Recent FTX hacks prove it was right to ‘secure’ its assets: Bahamian regulator

Recent FTX hacks prove it was right to ‘secure’ its assets: Bahamian regulator


The Securities Commission of The Bahamas says the continued “hacking attempts” on FTX’s digital assets prove they made the right call to take control of the exchange’s assets on Nov. 12. 

In a statement on Nov. 23, the commission said the fact that FTX’s “systems were compromised, and that they continue to face new hacking attempts – reinforces the wisdom of the commission’s prompt action to secure these digital assets.”

On the same day that FTX filed for bankruptcy on Nov. 11, the crypto community began flagging roughly $266.3 million worth of outflows on wallets associated with FTX. By Nov. 12, the outflows had ballooned to more than $650 million.

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Blockchain analysts have suggested that $477 million is suspected to have been stolen, while the remainder was moved

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