FTX points to cost, cyber risk as it opposes independent bankruptcy investigation

FTX’s lawyers on Monday strongly urged a US bankruptcy judge in Delaware not to greenlight a court-supervised investigation into its collapse, saying it would waste time and money and could pose a security risk.

FTX attorney James Bromley at Monday’s hearing told Judge John Dorsey, who is overseeing the crypto exchange’s Chapter 11 case, that the proposed review the US Department of Justice’s bankruptcy watchdog is seeking is so vague that it is essentially asking for an examiner to look at “everything, everywhere, all at once.”