Crypto hedge fund Tyr Capital is embroiled in a contentious
dispute with one in every of its shoppers relating to its publicity to the bankrupt digital
property trade FTX.
Tyr Capital stands accused of “prison”
mismanagement by one in every of its shoppers, TGT, prompting a Swiss prosecutor to raid
Tyr’s workplaces. TGT is now looking for to shut its account with Tyr and recuperate
remaining property, which features a substantial $22 million declare towards FTX, as
reported by the Monetary Occasions on at present (Tuesday).
The collapse of FTX, as soon as hailed as a number one participant within the
crypto trade, traces again to 2022 following a damning report by CoinDesk.
The report detailed how FTX and its sister firm, Alameda Analysis, allegedly
manipulated reserves utilizing their native FTT token. The fallout led to the
demise of Sam Bankman-Fried’s multi-billion greenback empire and solid a pall over
the crypto marketplace for months.
TGT alleges that it had voiced considerations about FTX between
November 7, 2022, and November 10, 2022. Nonetheless, Tyr Capital, led by former
Deutsche Financial institution government Edouard Hindi, solely withdrew property from FTX on the day
the trade filed for chapter, in keeping with a court docket submitting cited within the
report.
Tyr Capital Denies Allegations of Mismanagement
Furthermore, TGT, which manages investments from numerous
corporations together with crypto platform Yield, claims that Tyr Capital disregarded
an inside danger requirement limiting publicity to any single social gathering to fifteen% of
property. Tyr Capital has refuted these allegations, as outlined within the Monetary
Occasions report. The collapse of FTX has despatched shockwaves
by the crypto trade, impacting quite a few corporations instantly or
not directly uncovered to the trade.
Swiss crypto hedge fund Tyr Capital is battling its consumer, TGT, over its dealings with bankrupt crypto trade FTX, in keeping with a report. By @parikshitm899.https://t.co/BMLx0fNt8D
— CoinDesk (@CoinDesk) February 20, 2024
FTX Hacked: Three People Charged in $400 Million
SIM-Swap Assault
US
federal prosecutors have charged three people for his or her involvement in
a $400 million hack of crypto trade FTX, using the SIM-swap approach,
as reported by Finance Magnates.
The perpetrators, Robert Powell, Carter Rohn, and Emily
Hernandez, carried out SIM-swap assaults between March 2021 and April 2023,
stealing identities of fifty victims. SIM-swapping includes seizing management of
victims’ cellphone numbers to entry on-line accounts. Hernandez, impersonating an
FTX worker, accessed FTX wallets on November 11, 2022, siphoning $400 million
in cryptocurrencies. Some funds have been laundered by Kraken, whereas others
moved throughout numerous blockchains.
Crypto hedge fund Tyr Capital is embroiled in a contentious
dispute with one in every of its shoppers relating to its publicity to the bankrupt digital
property trade FTX.
Tyr Capital stands accused of “prison”
mismanagement by one in every of its shoppers, TGT, prompting a Swiss prosecutor to raid
Tyr’s workplaces. TGT is now looking for to shut its account with Tyr and recuperate
remaining property, which features a substantial $22 million declare towards FTX, as
reported by the Monetary Occasions on at present (Tuesday).
The collapse of FTX, as soon as hailed as a number one participant within the
crypto trade, traces again to 2022 following a damning report by CoinDesk.
The report detailed how FTX and its sister firm, Alameda Analysis, allegedly
manipulated reserves utilizing their native FTT token. The fallout led to the
demise of Sam Bankman-Fried’s multi-billion greenback empire and solid a pall over
the crypto marketplace for months.
TGT alleges that it had voiced considerations about FTX between
November 7, 2022, and November 10, 2022. Nonetheless, Tyr Capital, led by former
Deutsche Financial institution government Edouard Hindi, solely withdrew property from FTX on the day
the trade filed for chapter, in keeping with a court docket submitting cited within the
report.
Tyr Capital Denies Allegations of Mismanagement
Furthermore, TGT, which manages investments from numerous
corporations together with crypto platform Yield, claims that Tyr Capital disregarded
an inside danger requirement limiting publicity to any single social gathering to fifteen% of
property. Tyr Capital has refuted these allegations, as outlined within the Monetary
Occasions report. The collapse of FTX has despatched shockwaves
by the crypto trade, impacting quite a few corporations instantly or
not directly uncovered to the trade.
Swiss crypto hedge fund Tyr Capital is battling its consumer, TGT, over its dealings with bankrupt crypto trade FTX, in keeping with a report. By @parikshitm899.https://t.co/BMLx0fNt8D
— CoinDesk (@CoinDesk) February 20, 2024
FTX Hacked: Three People Charged in $400 Million
SIM-Swap Assault
US
federal prosecutors have charged three people for his or her involvement in
a $400 million hack of crypto trade FTX, using the SIM-swap approach,
as reported by Finance Magnates.
The perpetrators, Robert Powell, Carter Rohn, and Emily
Hernandez, carried out SIM-swap assaults between March 2021 and April 2023,
stealing identities of fifty victims. SIM-swapping includes seizing management of
victims’ cellphone numbers to entry on-line accounts. Hernandez, impersonating an
FTX worker, accessed FTX wallets on November 11, 2022, siphoning $400 million
in cryptocurrencies. Some funds have been laundered by Kraken, whereas others
moved throughout numerous blockchains.
