1 year ago
From buying Bahamas-based NFTs to offering bounties to FTX employees, users with balances stuck successful FTX are trying immoderate they tin to retreat their money.
As the FTX situation continues its outpour, users of the level effort assorted ways to bypass the authoritative process of withdrawing their funds from the collapsing exchange.
On Nov. 10, the speech announced that it volition statesman withdrawals of funds based successful the Bahamas. According to the exchange, the determination aims to person its comply Bahamian office with the demands of regulators wrong the country.
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.
— FTX (@FTX_Official) November 10, 2022From buying nonfungible tokens (NFTs) connected Bamahas-based accounts to offering bounties to FTX employees, FTX users are trying immoderate they tin bash to retreat their funds from the crypto exchange.
Several tweets from assemblage members watching blockchain transactions highlighted that NFTs are being utilized to bypass the bankruptcy process. According to podcaster Cobie, galore of the users with stuck balances are apt to beryllium buying NFTs from FTX’s marketplace that was enactment up by users based successful the Bahamas with their afloat balances truthful that they could withdraw. Blogger and NFT task laminitis foobar besides spoke connected the process being done by users and highlighted that determination person been millions of Tether (USDT) withdrawn truthful far.
Meanwhile, different users person turned to offering bounties to FTX employees successful speech for expediting their know-your-customer (KYC) applications oregon changing their relationship details to bespeak that they reside successful the Bahamas.
Related: Rumors proceed to alert surrounding Sam Bankman-Fried and the autumn of FTX
A Twitter idiosyncratic offered $1 cardinal and unlimited ineligible fees to those who enactment successful FTX to alteration the user’s state of residence to the Bahamas. However, hours aft the archetypal tweet, the idiosyncratic mentioned that it was simply a “funny experiment” but noted that galore radical with stuck funds wanted to really bash the aforesaid thing.
Trader AlgodTrading tweeted an connection of $100,000 to FTX employees to process his KYC request. Blockchain records show that the idiosyncratic was past capable to retreat their funds from the crypto exchange.
While taking their funds retired of the speech whitethorn look similar a bully determination to many, immoderate judge that it’s a atrocious idea. Crypto researcher FatMan tweeted that bribing an FTX worker and bypassing the recognition and bankruptcy process for different people’s balances is not the brightest idea.
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