The unexpected failure of the cryptocurrency exchange FTX is being looked into by the regulatory bodies in the Bahamas, and the Royal Bahamas Police have announced that they are investigating whether or not any criminal activity occurred.
Following the worldwide fall of FTXs and the temporary liquidation of FTX Digital Markets Ltd., the Royal Bahamas Police have said that a team of financial detectives is collaborating closely with the Bahamas Securities Commission.
The Bahamas Securities Commission took the responsible step of placing a freeze on the assets of FTX Digital Markets “and related parties” a few days ago. This was done as a precautionary measure to protect the assets and maintain the stability of the company.
During this time, FTX filed for bankruptcy under Chapter 11 and SBF resigned from his role as CEO of the company. The fallout from all of this has been severe, and FTX is even said to have been the victim of a cyberattack that cost more than $600 million.
Compiled by Coinbold