{"id":601463,"date":"2026-05-19T10:53:14","date_gmt":"2026-05-19T10:53:14","guid":{"rendered":"https:\/\/e-bitco.in\/index.php\/2026\/05\/19\/swan-bitcoin-sued-for-nearly-1b-over-pre-bankruptcy-transfers-from-prime-trust\/"},"modified":"2026-05-19T10:53:14","modified_gmt":"2026-05-19T10:53:14","slug":"swan-bitcoin-sued-for-nearly-1b-over-pre-bankruptcy-transfers-from-prime-trust","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2026\/05\/19\/swan-bitcoin-sued-for-nearly-1b-over-pre-bankruptcy-transfers-from-prime-trust\/","title":{"rendered":"Swan Bitcoin sued for nearly $1B over pre-bankruptcy transfers from Prime Trust"},"content":{"rendered":"

\"Swan<\/p>\n

Swan Bitcoin has been sued for allegedly using insider access to pull nearly $1 billion in Bitcoin and cash from Prime Trust days before its 2023 bankruptcy filing.<\/p>\n

The post-bankruptcy trust for Prime Trust has filed suit against Swan Bitcoin, alleging the Bitcoin services company exploited insider knowledge to pull nearly $1 billion in assets from the custodian days before its collapse.<\/p>\n

The complaint<\/a>, filed in Delaware bankruptcy court, accuses Electric Solidus, the corporate entity behind Swan, of receiving over $24.6 million in cash, 11,994 Bitcoin (BTC) currently worth around $923 million, roughly 5 million USDt (USDT) and smaller amounts of other digital assets before Prime Trust’s August 2023 bankruptcy.<\/p>\n

At the center of the allegations is an unidentified Prime Trust senior executive who, while working at the company, was also a paid adviser to Swan through a side arrangement dating back to July 2019.<\/p>\n

Read more<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Swan Bitcoin has been sued for allegedly using insider access to pull nearly $1 billion in Bitcoin and cash from Prime Trust days before its 2023 bankruptcy filing. The post-bankruptcy trust for Prime Trust has filed suit against Swan Bitcoin, alleging the Bitcoin services company exploited insider knowledge to pull nearly $1 billion in assets […]<\/p>\n","protected":false},"author":1,"featured_media":601464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":{"0":"post-601463","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/601463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=601463"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/601463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/601464"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=601463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=601463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=601463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}