The Schall Law Firm is investigating claims against FTX for violations of securities laws by duping investors into buying FTX Tokens (FTT). It is estimated that over one million people have lost their life savings due to the financial fraud committed by FTX CEO Sam Bankman-Fried.
The law firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. It is advising all FTT investors to participate in the drive by sharing information about their purchase and sale of FTT tokens.
FTX has recently hired a team of financial forensic investigators to track down the investors’ lost money. The firm’s primary goal is to conduct “asset tracing” to identify and recover the missing digital assets.
On November 22, a lawyer representing FTX debtors stated that “a substantial amount of assets have either been stolen or are missing” from FTX. Blockchain analytics firms such as Chainalysis have been enlisted to help as part of the proceedings.
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