Bahama Investigates FTX's Illegal Activities Following 'Bankruptcy Protection' Filing

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] The cryptocurrency exchange FTX, which is on the brink of bankruptcy, is now under investigation by the Bahamian authorities for illegal activities.

The Bahamas Police, where FTX's headquarters are located, issued a statement on the 13th (local time) saying, "The Financial Crime Investigation Division is closely cooperating with the Bahamas Securities Commission to investigate whether there were any illegal activities related to the collapse of FTX and the provisional liquidation of 'FTX Digital Markets.'" 'FTX Digital Markets' is a subsidiary of FTX that mediates coin trading in the Bahamas.

John J. Ray III, who succeeded Sam Bankman-Fried as interim CEO, confirmed, "We are working with the authorities to resolve this issue and are making every effort to protect all assets."

Earlier, the Bahamas Securities Commission announced on the 10th that it would freeze assets to preserve the assets of 'FTX Digital Markets' and stabilize the company.

On the 11th, FTX filed for bankruptcy protection in the Delaware court in the United States due to a massive withdrawal incident. Immediately after filing for bankruptcy protection, the company confirmed that virtual assets worth 870 billion won had disappeared and launched an investigation considering the possibility of hacking.

This content was produced with the assistance of AI translation services.