1 year ago
Social media is flooded with posts from hopeless FTX users asking for assistance to retreat locked funds.
According to Zane Tackett, the erstwhile Head of Institutional Sales astatine FTX, Bahamians are authorized to instrumentality funds disconnected the level contempt a frost connected withdrawals astatine the troubled exchange.
1) Per our Bahamian HQ's regularisation and regulators, we person begun to facilitate withdrawals of Bahamian funds. As such, you whitethorn person seen immoderate withdrawals processed by FTX precocious arsenic we complied with the regulators.
— Zane Tackett (@tackettzane) November 10, 2022
As a result, Bahamian citizens person begun offering services to funnel locked funds retired of the exchange. Furthermore, immoderate FTX users are dangling important bribes to FTX employees to alteration their state of residence relationship settings to the Bahamas.
Any FTX employees consenting to alteration my accounts state of residence to Bahamas to facilitate withdrawal I americium offering $1 cardinal and unlimited ineligible fees
DM maine (serious inquiries only)
— Austerity Sucks (@austerity_sucks) November 11, 2022
On-chain information shows withdrawals happening
Despite the questionable legality, morality issues, and the scope to beryllium scammed by going this route, @statelayer posted a screenshot of transactions showing withdrawals from FTX. He added that FTX’s Tether equilibrium has since halved arsenic a result.
Although @statelayer said the transactions are “people intelligibly abusing this Bahamas loophole,” it is unclear whether these withdrawals subordinate to FTX employees oregon hopeless users who person recovered a reliable way disconnected the exchange.
Bitcoin Magazine Analyst Dylan LeClair posted screenshots of a idiosyncratic who managed to get “KYC’d,” subsequently withdrawing important sums disconnected the platform.
Bahamas loophole splits the community
Commenting connected the supra idiosyncratic successfully managing to retreat his money, @depression2019 supported the move, saying helium would astir apt bash the aforesaid if helium had a sizeable chunk of wealth connected FTX.
Meanwhile, @depression2019 brushed speech the imaginable ineligible implications, justifying the enactment arsenic indispensable to bypass the lengthy bankruptcy process lone to get a tiny percent back, if astatine all.
Algod a clown but if I got 8 figs stuck connected ftx I’m astir apt doing the aforesaid lol
Would alternatively person the wealth successful my hands and past combat immoderate after, implicit it being stuck with ftx for 5 years thru bankruptcy for the 1% accidental I spot immoderate of it
— slump BTC (@depression2019) November 11, 2022
Similarly, “lawyer by day” @wassielawyer said, fixed the analyzable messiness of the FTX bankruptcy, immoderate ineligible ramifications “will instrumentality a fewer years” to drawback up. He added that this is not ineligible oregon fiscal advice.
“Will instrumentality a fewer years for radical to adjacent see pursuing you fixed what a dumpster occurrence this is.“
However, others took a antithetic view. @ThinkingUSD saw this arsenic a black-and-white matter, calling specified actions straight-up fiscal crime.
Just a heads up if you’re doing this, oregon reasoning of doing this you’re committing fiscal crimes. Good luck. https://t.co/fBv71pjpSd
— Flood (@ThinkingUSD) November 11, 2022
The station Desperate FTX users employment shady tactics to bypass bankruptcy process appeared archetypal connected CryptoSlate.
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