Feds Launch FTX Task Force to Recover Victim Assets

The Manhattan U.S. Attorney's Office said it had created an FTX Task Force to trace and recover assets of victims of the cryptocurrency exchange firm's collapse and to handle investigations and prosecutions related to the company and other entities. The task force will draw prosecutors from the Securities and Commodities Fraud, Public Corruption, and Money Laundering and Transnational Criminal Enterprises units.

The Securities and Exchange Commission has estimated that customers lost more than $8 billion as a result of fraud at FTX and Bankman-Fried’s hedge fund, Alameda Research.