Prime Trust wins $9M default judgment against Poloniex
The Prime Trust estate has won a $9 million default judgment against Poloniex after the exchange failed to respond to a clawback lawsuit. This judgment stems from Prime Trust's bankruptcy, which occurred after it allegedly used $82 million in customer funds to cover lost deposits, including transfers of over $9 million to Poloniex and Justin Sun before its collapse. The current default judgment is against Polo Digital Assets LTD, the firm operating Poloniex, while Prime Trust continues to seek discovery on Sun himself. Separately, the FTX estate has also filed suit against Sun-owned HTX and Poloniex.
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