It has emerged that the once thriving FTX exchange had been subject to open inquiries from the Australian Securities and Investments Commission (ASIC) since March 2022.

With over 30,000 Australian investors seeking to reclaim their individual deposits of up to $1M (AUD). Questions are surfacing about ASIC’s role in investigating market misconduct at FTX ahead of the firms’ implosion on November 12.

Emails shown by the Guardian confirm FTX was under active surveillance amid ongoing inquiries into the exchange' activities.