Recent FTX hacks prove it was right to ‘secure’ its assets: Bahamian regulator

The Securities Commission of The Bahamas says the continued “hacking attempts” connected FTX’s integer assets beryllium they made the close telephone to instrumentality power of the exchange’s assets connected Nov. 12. 

In a statement connected Nov. 23, the committee said the information that FTX's "systems were compromised, and that they proceed to look caller hacking attempts – reinforces the contented of the commission's punctual enactment to unafraid these integer assets."

On the aforesaid time that FTX filed for bankruptcy connected Nov. 11, the crypto assemblage began flagging astir $266.3 cardinal worthy of outflows connected wallets associated with FTX. By Nov. 12, the outflows had ballooned to much than $650 million.

Blockchain analysts person suggested that $477 cardinal is suspected to person been stolen, portion the remainder was moved to unafraid retention by FTX themselves.

In its latest statement, the committee said portion it suspended FTX Digital Markets (FDM) licence to behaviour concern and stripped its directors of their powerfulness connected Nov. 10, this was not capable successful protecting customers and creditors of FDM.

The committee further explained that owed to the "nature of integer assets" and "the risks associated with hacking and compromise," it sought an bid from the Supreme Court to transfer each integer assets from FTX to the committee for "safekeeping.”

The latest connection reinforces caller analysis from blockchain analytics steadfast Chainalysis, and Twitter crypto sleuth ZachXBT, who said that on-chain grounds suggests that the actions of the Bahamian regulator is not related to the alleged “FTX hacker.”

Related: FTX’s ongoing saga: Everything that’s happened until now

The committee has besides lashed retired astatine the Nov. 17 exigency question by FTX Trading Limited, which called retired the "Bahamian government" for "directing unauthorized entree to the Debtors' systems" aft the commencement of Chapter 11 bankruptcy filings.

“It is unfortunate that successful Chapter 11 filings, the caller CEO of FTX Trading Ltd. misrepresented this timely enactment done the intemperate and inaccurate allegations lodged successful the Transfer Motion,” the Commission said.