Bahamian securities regulator ordered the transfer of FTX’s digital assets
The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12.
In a Nov. 17 statement, the SCB said it exercised its power as a regulator acting under the authority of a Supreme Court order — moving the assets to a “digital wallet controlled by the Commission, for safekeeping.”
Securities Commission of The Bahamas Assumes Control of Assets of FTX Digital Markets Ltd. pic.twitter.com/IzW4PGZSJm
SCB justified last week’s move by stating that “urgent interim regulatory action was necessary to protect the interests of clients and creditors of FDM.”
The latest revelation could shed some light on certain movements of funds detected last week.
On Nov. 11, the crypto community flagged a number of suspicious transactions in wallets tied to FTX and FTX.US, with analysts reporting around $663 million drained. $477 million were suspected to be stolen while the remainder was believed to have been moved to secure storage by FTX themselves.
The SCB statement however did not make any mention of how much of FDM’s digital assets were moved as a result of their order.
Cointelegraph has reached out to SCB for clarity but has not received a response by the time of publication.
The commission's order would have been made only two days after the commission froze FDM’s assets on Nov. 10, suspended FTX’s registration in the country, and stripped the FTX directors of their power.
At the time, it also stated that FDM’s assets could only be moved by obtaining the approval of a provisional liquidator appointed by the Supreme Court.
Related: FTX reportedly hacked as officials flag abnormal wallet activity
The FTX bankruptcy drama has
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