In an affidavit made public on Thursday, Christina Rolle, executive director of the Securities Commission of the Bahamas, stated that the commission sought control of the cryptocurrency assets held by FTX Digital Markets Ltd. last month after FTX crypto co-founder Sam Bankman-Fried disclosed a hacking attempt to local authorities under oath. Her affidavit, which was submitted to the Bahamas Supreme Court, also attested to the Securities Commission’s reliance on Mr. Bankman-Fried and Gary Wang, another co-founder of FTX, to carry out the transactions.
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FTX Crypto Scam History
In mid-November, as the cryptocurrency exchange teetered on the brink of bankruptcy, Bahamas securities officials claimed to have confiscated digital assets from its local company valued at $3.5 billion.
According to FTX’s announcement on Friday, the crypto assets that were swept into government-controlled wallets in the Bahamas include over 195 million of its FTT tokens, 1,938 Ethereum, and “other random coins that do not have substantial worth.”
New York Times
In a bankruptcy court hearing, a lawyer for FTX crypto said that the company’s management team is in negotiations with Bahamian authorities to settle a disagreement on access to the failing crypto exchange’s electronic records.
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A bunch of FTX crypto exchange holders who collectively hold funds summing around $1.9 billion do not want to reveal their names as most crypto investors are alleged to theft and frauds. Other victims also do not want to reveal their identities as well. The topmost 50 creditors hold funds worth $3.1 billion following the fall of crypto exchange.
The FTX crypto’s lawyer has recently committed that they are in talks with the Bahamas blockchain authority over the failed exchanges and may soon find the cause by relocating electronic crypto records.
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