{"id":515148,"date":"2022-11-24T09:22:01","date_gmt":"2022-11-24T06:22:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/recent-ftx-hacks-prove-it-was-right-to-secure-its-assets-bahamian-regulator\/"},"modified":"2022-11-24T09:22:01","modified_gmt":"2022-11-24T06:22:01","slug":"recent-ftx-hacks-prove-it-was-right-to-secure-its-assets-bahamian-regulator","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/recent-ftx-hacks-prove-it-was-right-to-secure-its-assets-bahamian-regulator\/","title":{"rendered":"# Recent FTX hacks prove it was right to \u2018secure\u2019 its assets: Bahamian regulator"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d28c7f1dd1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d28c7f1dd1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/recent-ftx-hacks-prove-it-was-right-to-secure-its-assets-bahamian-regulator\/#%E2%80%9D_Recent_FTX_hacks_prove_it_was_right_to_%E2%80%98secure_its_assets_Bahamian_regulator_%E2%80%9C\" >&#8221; Recent FTX hacks prove it was right to \u2018secure\u2019 its assets: Bahamian regulator &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Recent_FTX_hacks_prove_it_was_right_to_%E2%80%98secure_its_assets_Bahamian_regulator_%E2%80%9C\"><\/span>&#8221; Recent FTX hacks prove it was right to \u2018secure\u2019 its assets: Bahamian regulator &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvODExYjZlMzItZmIxNi00N2VmLTkxNWYtYzdlNzY0ZjQ5ODlkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5129e2ea>The Securities Commission of The Bahamas says the continued \u201chacking attempts\u201d on FTX\u2019s digital assets prove they made the right call to take control of the exchange\u2019s assets on Nov. 12.\u00a0<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SCBgov_bs\/status\/1595617982637654017\">statement<\/a> on Nov. 23, the commission said the fact that FTX&#8217;s &#8220;systems were compromised, and that they continue to face new hacking attempts \u2013 reinforces the wisdom of the commission&#8217;s prompt action to secure these digital assets.&#8221;<\/p>\n<p>On the same day that FTX filed for bankruptcy on Nov. 11, the crypto community began flagging roughly $266.3 million worth of outflows on wallets associated with FTX. By Nov. 12, the outflows had ballooned to more than $650 million.<\/p>\n<p>Blockchain analysts have suggested that $477 million is suspected to have been stolen, while the remainder was moved to secure storage by FTX themselves. <\/p>\n<p>In its latest statement, the commission said while it suspended FTX Digital Markets (FDM) license to conduct business and s<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>ped its directors of their power on Nov. 10, this was not sufficient in protecting customers and creditors of FDM.<\/p>\n<p>The commission further explained that due to the &#8220;nature of digital assets&#8221; and &#8220;the risks associated with hacking and compromise,&#8221; it sought an order from the Supreme Court to transfer all digital assets from FTX to the commission for &#8220;safekeeping.\u201d<\/p>\n<p>The latest statement reinforces recent analysis from blockchain analytics firm Chainalysis, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> crypto sleuth ZachXBT, who said that on-chain evidence suggests that the actions of the Bahamian regulator is not related to the alleged \u201cFTX hacker.\u201d <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>FTX\u2019s ongoing saga: Everything that\u2019s h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened until now<\/em><\/strong><\/p>\n<p>The commission has also lashed out at the Nov. 17 emergency motion by FTX Trading Limited, which called out the &#8220;Bahamian government&#8221; for &#8220;directing unauthorized access to the Debtors&#8217; systems&#8221; after the commencement of Chapter 11 bankruptcy filings.<\/p>\n<p>\u201cIt is unfortunate that in Chapter 11 filings, the new CEO of FTX Trading Ltd. misrepresented this timely action through the intemperate and inaccurate allegations lodged in the Transfer Motion,\u201d the Commission said. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/recent-ftx-hacks-prove-it-was-right-to-secure-its-assets-bahamian-regulator\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Recent FTX hacks prove it was right to \u2018secure\u2019 its assets: Bahamian regulator &#8220; The Securities Commission of The Bahamas says the continued \u201chacking attempts\u201d on FTX\u2019s digital assets prove they made the right call to take control of the exchange\u2019s assets on Nov. 12.\u00a0 In a statement on Nov. 23, the commission said&#8230;<\/p>\n","protected":false},"author":1,"featured_media":515149,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvODExYjZlMzItZmIxNi00N2VmLTkxNWYtYzdlNzY0ZjQ5ODlkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74860,135234,89897,4978,117,45636],"class_list":["post-515148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-sam-bankman-fried","tag-bankruptcy","tag-business","tag-caribbean"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=515148"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/515149"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=515148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=515148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=515148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}