Multiple exchanges and institutions hold FTX "loot," facing up to ten years in prison

The well-known FTX creditor account @AFTXcreditor quoted U.S. regulations stating that exchanges and institutions holding FTX embezzled funds may face up to ten years in prison.

Do Binance, Genesis, Skybridge, and others all have funds embezzled by FTX?

@AFTXcreditor cited " 18 U.S. Code § 2315 " on the sale or receipt of stolen goods, securities, and money, indicating:

Based on the terms of use of FTX, FTX has the right to retain client assets, as well as recent expert testimony. Companies including Binance, Genesis, Celsius, BlockFi, Voyager, GDA, Skybridge, K5, etc., could face up to ten years in prison if assets are not returned.

FTX creditors face difficulties in recovering debts, recent updates on the restructuring plan

FTX.cm and the related debtors Debtors have proposed a settlement on the "customer asset dispute," expected to be submitted to the court on December 16, 2023. The bankruptcy restructuring team intends to accelerate the compensation process through this proposal, advocating for priority claims for regular FTX users and reducing the amount that priority creditors can claim.

Details of the FTX accelerated compensation plan: How to address the $9 billion compensation fund shortfall?