FTX Bankruptcy Managers Hire Forensic Investigators AlixPartners: WSJ

The team, led by former SEC accountant Matt Jacques, is tasked with tracking the billions of dollars missing from FTX.

AccessTimeIconDec 8, 2022 at 3:23 p.m. UTC
Updated Dec 8, 2022 at 3:38 p.m. UTC
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The new management at bankrupt cryptocurrency exchange FTX has hired forensic investigators from consultancy AlixPartners to trace billions of dollars that have gone missing, the Wall Street Journal reported.

The AlixPartners team will be led by Matt Jacques, a former chief accountant for the Securities and Exchange Commission's enforcement division, the Journal reported Wednesday.

John Ray III, a restructuring expert who oversaw the Enron Corp. bankruptcy, took over as CEO when FTX filed for bankruptcy protection last month. Jacques’ team is tasked with tracking the funds that went missing from FTX as the firm cratered amid a liquidity freeze.

AlixPartners was hired by the U.S. Securities Investor Protection Corp. to help recover funds stolen in the Bernie Madoff case, the investigative firm’s website states.

AlixPartners declined to comment. FTX didn't immediately respond to requests for comment.

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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.