Kroll Moves to Toss Class Suit Over FTX Bankruptcy Data Breach

Kroll Restructuring Administration LLC moved to dismiss or arbitrate class claims over a 2023 data breach affecting customers in three large cryptocurrency business bankruptcies, saying the suit is based on “rhetoric and speculation.”

Claimants involved in the Chapter 11 cases for FTX Trading Ltd., BlockFi Inc., and Genesis Global Holdco LLC lack grounds to sue Kroll over a cybersecurity hack that exposed their personal information because the bankruptcy service provider owed obligations to the corporate estates, “not to individual creditors dissatisfied with the administration of their claims,” it said Wednesday in the US District Court for the Western District of ...