Update: The Securities Commission of The Bahamas has assumed control of all FTX digital assets, a media release from Nassau states, "in the exercise of its powers as regulator acting under the authority of an order made by the Supreme Court of the Bahamas, took the action of directing the transfer of all digital assets of FTX Digital Markets Ltd. ("FDM") to a digital wallet controlled by the Commission, for safekeeping. Urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM."
Original story below.
The collapsing cryptocurrency company FTX filed a motion in the US Bankruptcy Court in Delaware on Thursday alleging that disgraced former CEO, Sam Bankman-Fried (SBF), gained "unauthorized access to FTX systems" and then moved digital assets from the Bahamas.
According to the Daily Mail, the filing reads, "In connection with investigating a hack on Sunday, November 13, Mr. Bankman-Fried and (FTX co-founder Gary) Wang, stated in recorded and verified texts that 'Bahamas regulators' instructed that certain post-petition transfers of Debtor assets be made by Mr. Wang and Mr. Bankman-Fried (who the Debtors understand were both effectively in the custody of Bahamas authorities) and that such assets were 'custodied on FireBlocks under control of Bahamian gov’t'."
In the same Vox interview, SBF also said, "I feel bad for those who get f*cked by it, by this dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us."
The new filing, which was launched by co-founder Wang, said, "The Debtors thus have credible evidence that the Bahamian government is responsible for directing unauthorized access to the Debtors’ systems for the purpose of obtaining digital assets of the Debtors—that took place after the commencement of these cases."
The filing indicates that the regulator's in the Bahamas' request to be recognized as official liquidators during FTX's bankruptcy is in "serious question" as they allowed the former CEO access to moving assets after he was locked out.This is a breaking story and will be updated.
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