Cointime

Download App
iOS & Android

Bahamas Government Says It Ordered SBF to Hack FTX

Bahamian authorities ordered Sam Bankman-Fried, previously the main figurehead of the collapsed FTX exchange, to transfer hundreds of millions of dollars of crypto from FTX to a wallet controlled by the Securities Commission of The Bahamas. 

The Commission confirmed it ordered the transfer in a Thursday press release. In the statement, the Commission said that on November 12 officials “took the action of directing the transfer of all digital assets of [FTX] to a digital wallet controlled by the Commission, for safekeeping.” The note added that FTX was ordered to move the assets “to protect the interests of clients and creditors.”

Comments

All Comments

Recommended for you

  • FTX agrees to sell FTX Europe back to its founders for $32.7 million

    Bankrupt cryptocurrency exchange FTX has reached a settlement in a lawsuit in which the company attempted to recover $323 million spent on acquiring a European startup. FTX stated that it paid an excessive fee for a startup that was "unable to launch and operate," and FTX Europe's founder will buy back his company for $32.7 million. It is reported that Digital Assets DA AG was acquired by FTX and renamed FTX Europe in 2021, and FTX stated in a lawsuit in July 2023 that the acquisition was a "huge overpayment" paid with FTX customer funds. According to documents submitted to the Delaware Wilmington Bankruptcy Court on Thursday, FTX stated that no other buyers would agree to purchase its European subsidiary FTX Europe, and the proposed settlement is the best result for FTX creditors. (Reuters) In July 2023, FTX Trading recently sued insiders of FTX's European division, claiming that former CEO SBF paid an obviously high acquisition price. Accounting firm BDO stated that FTX's $376 million acquisition of Swiss startup Digital Assets AG (DAAG) "reasonably represents fair value" and is not improper. DAAG was later renamed FTX Europe.
  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.
  • Cointime February 3 News Express

    1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions
  • FTX Was Never Really Bankrupt

    The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but never substantiated that claim. In reality, the crypto exchange had sufficient assets to make creditors whole all along – a fact that would likely change the public’s perception of its founder.
  • Cointime January 14 News Express

    1.Digital asset protocol Metaplex will list its Solana inscription on January 162.Investment bank TD Cowen: The U.S. SEC will not approve an Ethereum spot ETF in the short term3.Binance, Kraken and other nine trading platforms have been removed from Google App Store in India4.Barclays economists advance forecast for Fed rate cut to start from June to March5.The Chairman of the U.S. SEC issued a statement on the theft of the SEC's official Twitter account: The impact is still being evaluated and the company is cooperating with law enforcement agencies for
  • Cointime January 7th News Express

    1.Ordinals’ cumulative fee income exceeds 5,400 BTC
  • Cointime December 31st News Express

    1.Linea mainnet has crossed 305,685 ETH
  • Cointime December 24 News Express

    1.RTFKT will launch the Animus project in Q1 2024
  • Cointime December 23 News Express

    1.The U.S. SEC requires Bitcoin spot ETF issuers to confirm authorized participant information in the next update application
  • Internet bandwidth monetization startup Wynd Network completed a $3.5 million seed round led by Polychain Capital and Tribe Capital

    On December 19th, Wynd Network, a startup company focused on allowing users to earn money by selling unused internet bandwidth, announced the completion of a $3.5 million seed round of financing. This round of financing was led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik.