The statement from the Securities Commission of The Bahamas refutes a claim from FTX that it has been facilitating withdrawals in accordance with Bahamian regulations.
United-States-based Twitter users had been reporting suspicious data access requests from FTX.US to their bank accounts.
It is understood that Sam Bankman-Fried and two former FTX associates are currently “under supervision” by Bahamian authorities.
From inflation to energy shortages and general instability, markets are set for a turbulent year ahead.
SBF stepped down as CEO of FTX on Nov. 11 after initiating Chapter 11 bankruptcy proceedings in the District of Delaware.
Wallets tied to FTX and FTX US have seen $659 million in cumulative outflows over the past 24 hours, according to Nansen.
Despite the inordinate amount of resources needed to engineer them, small-cap cryptocurrencies are still susceptible to a 51% attacks.
In the long run, the industry needs to come together and step up its cybersecurity game in a big way rather than seek out such temporary fixes.
There might not be much new to worry about when it comes to the FTX aftermath and Bitcoin resilience.
With one of the biggest crypto businesses falling overnight after getting caught misappropriating user funds, CZ believed the episode was devastating for the industry, which took away a lot of consumer confidence.