Swan Bitcoin is named in a lawsuit seeking nearly $1 billion in connection with the collapse of Prime Trust. Multiple reports say the complaint alleges Swan Bitcoin used insider information to move or obtain substantial amounts of Bitcoin and cash from Prime Trust shortly before Prime Trust filed for bankruptcy in 2023. The allegations center on what the plaintiff describes as pre-bankruptcy transfers and the firm’s purported access to information during the period leading up to the filing.
The lawsuit claims Swan Bitcoin’s actions allowed it to reduce or avoid losses that would otherwise have affected it as Prime Trust deteriorated. The reports describe the dispute as one that contests the timing and circumstances of the asset movements, and frames them as potentially improper.
While the articles summarize the allegations and requested damages, they do not indicate the outcome of the case or provide details on Swan Bitcoin’s response. The matter is presented as an ongoing legal action tied to events preceding Prime Trust’s 2023 bankruptcy.
