[ad_1]
The Securities Commission of The Bahamas (SCB) is awaiting court orders to release $3.5B in FTX funds to its clients. SBF is said to be getting back over $684K.
The FTX saga takes a new twist Press release It claims to control the $3.5 billion FTX fund through the Securities and Commission of the Bahamas (SCB). Meanwhile, Sam Bankman-Fried withdraws funds From the Alameda accounts, he tried to leave no trace.
Bahamas regulators await court orders for $3.5B in seized FTX funds
SCB revealed that they took control of FTX’s assets on November 12 because of “a significant risk of imminent dissolution” shortly after the company filed for bankruptcy. When SCB took control, the assets were valued at over $3.5 billion based on market value.
SCB further claims that the funds are under their exclusive control. Commission Awaits Bahamas Supreme Court Orders A Big Relief for FTX Customers?
SBF returns $684K
According to an analyst with Twitter username- BowTiedIguana, SBF has monetized $684K via crypto exchange in Seychelles. Sep. Analyst found SBF’s old tweet from 2020. SushiSwap exchange. SBF shared its address 0xD575With the founder of SushiSwap.
After Sam Bankman-Fried He came out of jail On bail, he changed Some 0.6659 ether from 0xD575 to a new account, starting 0x7386. Although the amount is not significant, it is worth noting that the destination address receives payments from Alameda accounts. Actually, when creating this walletThe first transaction it received was from the Alameda Research Institute.
BowTiedIguana reports About $684,000 worth of 570 ETH was transferred from this new wallet to various locations.
0x7386 made many transactions in another new wallet, 0x64e9. The wallet received more than $1 million from Alameda Research accounts. The controller of these accounts transfers funds to other accounts and ultimately uses ChangeNOW and FixedFloat to withdraw money secretly.
A SEC Complaint It also reveals that the disgraced founder ran a fake electronics store website, North Dimension, as an Alameda subsidiary. “In an attempt to conceal the fact that funds were being sent to an account controlled by Alameda, Bankman-Fried directed FTX to have customers send funds to Northern Dimension,” the complaint states.
Got something to say about Sam Bankman-Fried, the Bahamas authorities or something else? Write to us or join our discussion Telegram channel. You can also catch us Tick Tock, FacebookOr Twitter.
For the latest on BeInCrypto Bitcoin (BTC) analysis, Click here.
Refusal
BeInCrypto has reached out to the company or person involved in the story to get an official statement on the latest developments, but has yet to hear back.
[ad_2]