FTX’s bankruptcy estate has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao, accusing them of fraudulent transactions.

The estate of now-defunct crypto exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao in a bid to recover $1.76 billion. FTX alleges these funds were fraudulently transferred to Binance,

The litigation marks the latest escalation of tensions between two of the biggest names in crypto, after the meteoric collapse of FTX rocked the market.

The estate of the crippled digital exchange FTX filed a lawsuit against fellow crypto exchange Binance on Sunday as it tries to get back $1.76 billion in what it claims was a "fraudulent" share agreement.

The two crypto exchanges have a history of bad blood. Changpeng Zhao, the co-founder and former CEO of crypto exchange Binance, may have thought his legal troubles were over when he was recently released from prison.

Imprisoned crypto king Sam Bankman-Fried is now accused of yet even more wrongdoing, this time by the defunct exchange he founded.

DOJ intensifies efforts to seize $17.9M in FTX crypto assets amid ongoing lawsuits and fallout from Sam Bankman-Fried's alleged bribery.