Per Daily Mail: Court documents clakn exchange platform FTX claims former CEO Sam Bankman-Fried 'hacked' its systems after filing for bankruptcy to transfer 'digital assets' to Bahamian regulators.
Sam Bankman-Fried has been accused in court documents of gaining 'unauthorized access' to FTX systems after filing for bankruptcy to transfer 'digital assets' to the Bahamas government.
11/17/2022
FTX lodged the motion in the US bankruptcy court in delaware on thursday saying it had evidence to suggest the bahamas government ordered SBF, 30, to gain 'unauthorized access' while in custody.
"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,' the filing states.
"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."
See WSJ discussing below: https://www.wsj.com/articles/ftx-management-accuses-bahamas-of-disrupting-firms-u-s-bankruptcy-11668716257
FEATURED NEWS
Fed's Powell: Tariffs likely mean higher inflation, and slower growth
4/16/2025 Fed's Powell: Unemployment is likely to go up as economy slows
4/16/2025 Fed’s Powell: federal debt is on an unsustainable path
4/16/2025 US officials plan to use trade negotiations with more than 70 nations to ask them to disallow C...
4/16/2025
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
+With Unusual Whales
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.