Feds Launch FTX Task Force to Recover Victim Assets

hours after disgrace to FT. X. Founder Sam Beckman freed, pleaded not guilty to fraud, federal officials once again taking aim at the bankrupt crypto exchange. Federal prosecutors launching a task force to recover victim assets as part of an ongoing investigation into the highly publicized collapse of F. T. X. The task force will also handle investigations and prosecutions of the company and its many entities. While the sec estimating that customers lost more than $8 billion due to fraud, FT X's hedge fund, Alameda Research and all of this convenience. Us regulators warned banks about the dangers of crypto exposure in the wake of FT excess collapse. Now, the joint statement from the Fed F. D. I. C. And office of the comptroller, saying in part, quote, the events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto assets sector, noting that the risks include fraud and scams among crypto asset sector participants and regulators starting to take aim at the crypto industry as recent events have revealed the huge interconnected risks in the sector and lack of consumer protection from both mismanagement and fraud