The Securities Fee of The Bahamas (SCB) rejected FTX’s CEO John Ray III’s allegations that it directed unauthorized entry to the embattled trade’s system after it filed for chapter, in response to a Nov. 23 press assertion.
Securities Fee of The Bahamas Assertion on Switch Movement In FTX Digital Markets Chapter 15 Proceedings. https://t.co/CB5f7w1wGT pic.twitter.com/ZMqrbU6vhf
— Securities Fee of The Bahamas (@SCBgov_bs) November 24, 2022
SCB mentioned the FTX CEO had relied on statements from people the trade had declared to be “unreliable” and “probably significantly compromised” to make its “intemperate and inaccurate” allegations.
Defending its place, the regulator mentioned its well timed motion to guard clients’ funds has been “misinterpreted.” In accordance with the SCB, it had secured a Nov. 12 courtroom order that licensed the switch of FTX’s property to wallets beneath its management.
The regulator added that this well timed motion protected the digital property beneath its management from related dangers like hacking and compromise.
SCB highlighted that the statements made by FTX proved the knowledge in its determination because the trade mentioned, “they’ve suffered vital thefts, that their methods had been compromised,
and that they proceed to face new hacking makes an attempt.”
A Nov. 17 courtroom submitting from FTX mentioned it had credible proof that the Bahamian authorities was answerable for directing the unauthorized entry to its methods after it filed for chapter.
The trade additionally alleged that former CEO Sam Bankman-Fried and CTO Gary Wang had been behind the Nov. 13 occasions.
In the meantime, the Bahamas Supreme Courtroom has ordered the bankrupt crypto trade to indemnify and reimburse the SCB for any bills incurred whereas safekeeping its digital property.
