Government Entity That Seized FTX Crypto Assets Steps Forward

Government Entity That Seized FTX Crypto Assets Steps Forward

Law enforcement in the Bahamas revealed on Thursday that officials seized assets belonging to defunct cryptocurrency platform FTX and moved them to a government-controlled wallet for “safekeeping.”

The cryptocurrency platform, which was controlled by young multibillionaire Sam Bankman-Fried, filed for bankruptcy last week after users discovered that trading firm Alameda Research, a company run by former Bankman-Fried love interest Caroline Ellison, had allegedly been using consumer holdings from FTX to make investments.

In the days after FTX imploded, cryptocurrency assets mysteriously began disappearing in what was widely reported to be a hack. Bahamian authorities confirmed in a press release that officials acted under an order from the Supreme Court of the Bahamas to transfer “all digital assets” held by FTX to a digital wallet controlled by the

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