{"id":72140,"date":"2022-12-30T12:56:56","date_gmt":"2022-12-30T10:56:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72140"},"modified":"2025-09-08T13:09:15","modified_gmt":"2025-09-08T10:09:15","slug":"bahamas-regulator-values-blocked-ftx-assets-at-3-5-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bahamas-regulator-values-blocked-ftx-assets-at-3-5-billion\/","title":{"rendered":"Bahamas regulator values blocked FTX assets at $3.5 billion"},"content":{"rendered":"<p>The Bahamas Securities Commission (SCB) took custody of the local FTX unit&#8217;s deposits for safety reasons. On November 12, the digital assets were worth more than $3.5 billion, <a href= \"https:\/\/www.scb.gov.bs\/wp-content\/uploads\/2022\/12\/SCB-seeks-court-direction-Press-Release-29Dec22-Final.pdf\">\u0441\u043e\u043e\u0431\u0449\u0438\u043b\u043e<\/a> \u0432\u0435\u0434\u043e\u043c\u0441\u0442\u0432\u043e.<\/p>\n<p>On November 11, the SCB suspended the FTX Digital Markets (FTXDM) license and <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-freezes-ftx-assets\">blocked the company&#8217;s funds<\/a>. On that day the exchange and a number of affiliated entities <a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">filed for bankruptcy in the United States<\/a>. The Bahamas-registered firm did not join the filing.<\/p>\n<p>Soon after this, there were reports of unauthorized withdrawals from FTX <a href=\"https:\/\/forklog.com\/en\/news\/unknown-actors-moved-more-than-400-million-from-ftx-wallets\">assets worth more than $400 million<\/a>.<\/p>\n<p>The SCB explained that, in light of media reports about a potential hack or possible insider actions, it transferred the blocked funds to its own digital wallets.\u00a0\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe Commission has consistently taken the steps necessary to protect the clients of FTXDM and the public interest in carrying out its duties,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>Earlier SCB <a href=\"https:\/\/forklog.com\/en\/news\/bahamas-regulator-responds-to-ftx-allegations\">rejected FTX&#8217;s claims<\/a> regarding unauthorized access to the exchange&#8217;s subsidiary assets. The Commission noted that it had the backing of the Bahamas Supreme Court.<\/p>\n<p>The regulator will also decide on the further transfer of client and creditor funds of FTXDM either to the exchange&#8217;s clients and creditors or to the trustees for the U.S. debtors. The Commission stressed that it does not prioritise the interests of local users of the exchange.<\/p>\n<p>Earlier, the SCB received information about possible fraud by FTX two days before its bankruptcy filing.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bahamas Securities Commission (SCB) took custody of the local FTX unit&#8217;s deposits for safety reasons. As of November 12, the digital assets were worth more than $3.5 billion, the regulator said.<\/p>\n","protected":false},"author":1,"featured_media":72141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1899,1236],"class_list":["post-72140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bahamas","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72140"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72140\/revisions"}],"predecessor-version":[{"id":72142,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72140\/revisions\/72142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72141"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}