FTX users intensify lawsuits, claiming that the law firm Fenwick & West is the "key" driver of their fraud case.

[FTX users intensify lawsuit, claiming law firm Fenwick & West is the "key" driver of their fraud case] Users of the bankrupt Crypto Assets exchange FTX are seeking to update their lawsuit against the law firm Fenwick & West, which had previously contracted with them. They claim that new information indicates that the firm is a central factor leading to the collapse of FTX. FTX users wrote in a court document submitted on Monday requesting to amend the lawsuit that the criminal trial of former FTX CEO Sam Bankman-Fried and the investigation into the exchange's bankruptcy proceedings "have provided specific evidence that Fenwick & West played a critical and significant role in the key aspects of the FTX fraud case — including the reasons for and the methods of the fraud." The user group stated: "In short, the reason the FTX fraud was able to be implemented is that Fenwick provided 'substantial assistance' by creating and approving the relevant structures, which created conditions for multiple fraudulent activities." They accused the law firm of agreeing to create, manage, and provide agency services for "companies with obvious conflicts of interest" (such as FTX's sister trading company Alameda Research and its subsidiary NorthDimension), "while these companies deliberately set no safeguards, leading to billions of dollars being openly stolen."