PANews reported on February 20 that according to the Financial Times, Tyr Capital Partners, a Crypto Assets Hedging fund based in Geneva, was raided by Swiss prosecutors on suspicion of ignoring its exposure risks before the collapse of FTX, and was charged with "criminal" mismanagement by investor TGT. TGT seeks to liquidate and take control of the remaining assets, including a $22 million claim against FTX. Tyr refuted all allegations, insisting that it had strictly complied with all relevant laws and its regulatory and contractual obligations. TGT argues that Tyr ignored the internal risk requirement to limit the exposure of any single counterparty to 15% of the asset and only attempted to withdraw the asset on the day FTX filed for Rekt.

Tyr Capital Partners, a Geneva-based Hedging fund in the Crypto Assets industry, was raided by Swiss prosecutors as investors disputed FTX's losses after Rekt. The TGT fund accused the Tyr Capital it worked with of "criminal" mismanagement and ignored internal risk limits and investor warnings about its FTX exposure. TGT is trying to close the portfolio and take control of the remaining assets, including a $22 million claim against FTX. TGT's investments are funded by Long companies such as crypto wealth platform Yield App. [Financial Times]