Regulators in the Bahamas have taken custody of $3.5 billion in FTX customer assets, according to a statement. thesamreynolds reports.
Shortly after FTX filed for bankruptcy, about $372 million worth of tokens were stolen from the exchange by an unknown actor thought to be an external hacker., and possible looting of FTX-controlled wallets by former employees, the Commission said in its media statement it"determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of [FTX] to the prejudice of its customers and creditors.
Assets will be held until the Bahamas Supreme Court directs the Commission to deliver them to the customers and creditors who own them, the statement says. The Commission said that FTX founders Sam Bankman-Fried and Gary Wang no longer had access to the $3.5 billion in tokens that were transferred. In the media statement, the Commission reiterated that it did not direct FTX to prioritize the withdrawals of Bahamas-based clients.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bahamas regulator holds FTX assets pending delivery to customers, creditorsThe Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing at the time of transfer on a temporary basis to deliver them to customers and creditors who own them.
Read more »
FTX customers file class action lawsuit saying assets belong to themAccount holders at FTX have filed a class action lawsuit claiming the assets being held belong to them and not the exchange.
Read more »
FTX customers file class-action lawsuit to get priority reparationsThe plaintiffs emphasize that the FTX User Agreement did not permit the platform to use customer funds for its own purposes, including borrowing or using it for operating expenses.
Read more »
SBF wants ‘Big Short’ FTX movie, Peter Schiff already calls it fictionFrom describing the idea of an FTX film as 'absurd' to saying The Big Short writer should also be investigated, the community responded to the meeting between former FTX CEO and Michael Lewis.
Read more »
FTX customers file class-action lawsuit to claim back moneyFTX customers filed a class-action lawsuit against the failed crypto exchange to get their lost money back
Read more »
Bitcoin plunged 65% in 2022 as Terra, FTX went up in flamesThe biggest cryptocurrency crashes of 2022 and how they played out.
Read more »