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Alameda Research fund managers have filed a lawsuit against the founder of the Waves project, Alexander Ivanov, trying to recover $90 million converted in 2022 into the USDN stablecoin and invested in the Vires Finance protocol.
The lawsuit alleges that Alexander Ivanov promoted the Waves and Vires projects as high-yield investment projects, but in fact used the capital to manipulate the price of the WAVES coin and at the same time was engaged in withdrawing funds from the Vires protocol.
Alameda Research said that they repeatedly tried to restore control over the frozen funds, but Alexander Ivanov got in touch only once in 2023, and then ignored all requests for a settlement of the dispute.
It should be noted that since November, the bankruptcy managers of Alameda Research have filed several dozen lawsuits against companies and individuals in order to restore capital for subsequent compensation payments to investors affected by the collapse of the fund.
In September, a court sentenced Caroline Ellison, ex-director of the Alameda Research Foundation, to two years in prison. She began serving her prison sentence on November 8.
The lawsuit alleges that Alexander Ivanov promoted the Waves and Vires projects as high-yield investment projects, but in fact used the capital to manipulate the price of the WAVES coin and at the same time was engaged in withdrawing funds from the Vires protocol.
Alameda Research said that they repeatedly tried to restore control over the frozen funds, but Alexander Ivanov got in touch only once in 2023, and then ignored all requests for a settlement of the dispute.
It should be noted that since November, the bankruptcy managers of Alameda Research have filed several dozen lawsuits against companies and individuals in order to restore capital for subsequent compensation payments to investors affected by the collapse of the fund.
In September, a court sentenced Caroline Ellison, ex-director of the Alameda Research Foundation, to two years in prison. She began serving her prison sentence on November 8.
