FTX creditors accuse law firm Sullivan and Cromwell of involvement in FTX fraud

ChainCatcher news, according to The Block, FTX creditors have filed a class action lawsuit against the law firm Sullivan and Cromwell (S&C), accusing the firm of having close ties with FTX prior to its collapse and bearing partial responsibility for its actions. The lawsuit claims that the law firm was aware of FTX's operations and ultimately supported its fraudulent activities. Since taking on leadership roles, S&C's revenue from FTX-related matters has surged to over $180 million, accounting for 10% of its total revenue for the year 2022.