Swiss authorities executed a raid on Tyr Capital, a crypto hedge fund, amid accusations of mismanagement related to the FTX collapse.

Investor group TGT alleges prior warnings to Tyr about FTX's shaky finances were ignored, with withdrawal attempts made only post-bankruptcy.

Despite Tyr's denial of wrongdoing, a raid in August resulted in the seizure of documents for investigation.

FTX has scrapped plans for a comeback, opting instead for asset liquidation to repay customers.

The FTX debacle has precipitated potential bankruptcies for associated entities like BlockFi and Genesis Global Capital.

The broader impact highlights heightened scrutiny on cryptocurrency investment risks and the need for stringent risk controls.

The legal resolution will be pivotal in determining compensation for investors impacted by FTX's downfall.