Cryptocurrency hedge fund Tyr Capital raided by Swiss prosecutors over FTX bankruptcy dispute

Tyr Capital Partners, a well-known cryptocurrency hedge fund headquartered in Geneva, was recently searched by Swiss prosecutors due to disputes from investors over losses after the bankruptcy of FTX. Tyr Capital is accused by TGT of "criminal" mismanagement and ignoring internal risk limits and investor warnings about exposure to FTX. TGT is trying to end the investment portfolio and control remaining assets, including a $22 million claim against FTX. TGT is invested by a group of companies including the cryptocurrency wealth platform Yield App.

Since the bankruptcy of FTX, TGT has also filed a criminal complaint against Tyr in Switzerland, alleging "criminal management" by the fund and calling for a "dawn raid" on the fund manager's office. The case is still ongoing.