More than 500 Chinese creditors challenge FTX over the freezing of a $470 million payment.

Chinese creditors affected by FTX are working to challenge the request to suspend payments for users in 49 jurisdictions with unclear cryptocurrency laws. This group has hired American lawyers and organized a response, with more than 500 members, many of whom have filed objections with the bankruptcy court.

Will, a creditor, stated that 35 people in the group had sent letters to the judge. They expressed concern that FTX's actions were contradictory to previous assurances, claiming that they would receive a distribution of compensation if they submitted a claim and supported the plan. They are worried that withholding 470 million USD would undermine trust in the process and be unfair, especially when this targets creditors based on nationality or legal regulation.