There is a rather sobering case worth noting. A class-action lawsuit against FTX was ultimately dismissed, but the ending is quite ironic—those investors lost everything, while the legal team representing them directly received $6.5 million in attorney fees.

The background is as follows: The Ontario Teachers' Pension Plan once invested $95 million in FTX. Later, they filed a lawsuit accusing the fund management of failing to conduct proper due diligence on this investment, which led to the money going down the drain.

However, the lawsuit was eventually dismissed. Ironically, the investors didn't recover a penny, but the lawyers walked away with a full belly. This also highlights a problem: in an era where crypto exchanges collapse, investment institutions really need to rethink their risk controls. Even professional pension funds seem somewhat powerless when facing industry risks.

Similar lawsuits are still ongoing in U.S. courts, with former FTX customers also filing suits against FTX shareholders. These cases are all serving as wake-up calls to the market.