The bankrupt cryptocurrency exchange FTX sued cryptocurrency lender Voyager Digital (Voyager) on Monday, seeking to recover the $445.8 million loan that FTX had repaid to the company before its bankruptcy in November 2022.

In 2022, the cryptocurrency market collapsed, and both FTX and Voyager filed for bankruptcy, but Voyager's bankruptcy occurred four months earlier than FTX's.

Voyager requested repayment of all outstanding loans from FTX and its affiliated hedge fund Alameda Research after filing for bankruptcy in July last year.

A court document submitted by FTX stated that it paid $248.8 million and $193.9 million to Voyager on behalf of Alameda Research in September and October of last year, respectively. According to the court documents, FTX also paid $3.2 million in interest in August last year.

According to the FTX lawsuit, as the payment time for these loans is very close to the bankruptcy filing time of FTX itself, these funds are eligible to be recovered and used to repay other FTX creditors.

FTX was once one of the world's top cryptocurrency exchanges. The company filed for bankruptcy in November last year, which shook the entire encryption industry. It is estimated that approximately 9 million customers and other investors are facing losses of billions of dollars as a result.

FTX founder Sam Bankman Fried has been charged with suspected fraud, and several executives, including Alameda Research CEO Caroline Ellison, have admitted their fraud crimes. Bankman Fried denies any wrongdoing and is scheduled to face trial in October.

In a document submitted to the court on Monday, FTX admitted allegations that Alameda had seized FTX client assets to cover up its high-risk lending. But the company stated that Voyager and other cryptocurrency lending institutions were complicit in Alameda's misconduct, as these institutions "intentionally or arbitrarily" pushed their clients' assets towards Alameda.

FTX stated, "Voyager's business model is a feeder fund. It attracts retail investors and invests client funds in cryptocurrency investment funds such as Alameda and Three Arrow Capital with little or no due diligence

Sanjian Capital also went bankrupt in 2022, and its founder refused to cooperate with a court appointed liquidator who was attempting to recover assets for Sanjian Capital's clients.