The Securities Commission of the Bahamas (BSC) on Thursday, December 29th, announced that it is holding on a temporary basis the digital assets of FTX customers and creditors worth $3.5 billion based on market pricing.
Bahamian Regulators Hold $3.5 Billion of FTX Assets
In a media release, the BSC announced that it holds the deposits of FTX customers valued at more than $3.5 billion in its custody. According to the announcement, concerns of “imminent dissipation” of the assets in FTX custody prompted the regulator to seize them.
As per the statement, the assets were seized on November 12th after Sam Bankman-Fried announced that the exchange was being attacked. FTX would report in its bankruptcy filing that $372 million worth of tokens were stolen from the exchange on November 11th.
Blockchain research firm Nansen reported that amidst the “hack,” FTX recorded crypto outflows of over $700 million within 24 hours.
When Will Customers Receive Their Crypto?
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