FTX HACK NEWS – As the FTX contagion expands, regulators are making a U-turn on their previous claims. According to a media release by the Securities Commission of The Bahamas the watchdog directed the transfer of all FTX digital assets into a digital wallet.
Mario Nawfal (CEO of IBC group) stated that the Securities Commission of the Bahamas has now contradicted their previous claim. They stated that the watchdog had not directed funds to be moved from FTX wallets.
They now admit that they ordered FTX (FTX Digital Markets) to take all FTX assets. The letter stated that urgent regulatory action was necessary to protect clients and creditors in relation to FTX.
It was pointed out that the commission does not know that FTX digital markets Ltd. is a party in the US Chapter 11 bankruptcy proceedings. The commission stated that they will be engaging with other authorities and regulators in the coming days.
Bahamas’ regulator will work with several jurisdictions to address issues affecting creditors and stakeholders of FTX. It will strive to achieve the best outcome.
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This announcement comes after FDM filed Chapter 15 bankruptcy papers.

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