FTX Revealed The Address Of $167 Million Seized By The Bahamas Authorities

Key Points:

• The FTX asset address recovered by Bahamian officials was published on Twitter on January 1 with the current assets of around $167 million.
• The asset includes 1938.41 Ethereum and nearly 196 million FTT. $3.5 billion was claimed.

FTX disclosed the whereabouts of the assets confiscated by Bahamas authorities, which had a current net worth of around 167 million US dollars.

The FTX asset address recovered by Bahamian officials was published on Twitter on January 1. The address currently has assets of around $167 million, including 1938.41 Ethereum and nearly 196 million FTT. $3.5 billion was claimed.

According to previous reports, the Bahamas Securities Commission announced on Thursday that it had taken control of more than $3.5 billion in FTX digital assets, which would be used to repay FTX’s customers and other creditors in the future, but the agency did not specify the type or value of the seized assets. FTX has previously requested that the confiscated assets be returned to it by Bahamian authorities.

According to FTX, when SCB seized its digital assets in November of this year, they were only worth $296 million. SCB was prompted by the exchange to clarify its holdings and their worth. SCB commenced the liquidation of its Bahamian subsidiary, FTX Digital Markets Ltd., in November. Because FTX DM is merely a local services company and does not own the exchange or any confiscated cryptocurrencies, the company stated that it would attempt to recover all seized assets.

On Thursday, SCB said that it had accumulated more over $3.5 billion in digital assets, which it plans to use to compensate customers and other creditors in the future. Both the type and the worth of assets were left undefined by SCB.

It was already known that federal investigators were looking into a variety of bitcoin transactions that had been linked to digital wallets belonging to disgraced crypto millionaire Sam Bankman-Fried. SDNY prosecutors are looking into whether Bankman-Fried is simply moving his own money around or is cashing out without authorization.

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