News

Non-US FTX User Names Leaked By Mainstream Media

Key Points:

  • Media outlets object to withholding customer identities during FTX bankruptcy.
  • FTX and customers fail to justify identity secrecy leaving non-US customers vulnerable to attacks.
  • Public access to bankruptcy proceedings for FTX creditors is of utmost importance.
Some mainstream media outlets have objected to attempts to withhold the identities of non-United States customers of cryptocurrency exchange FTX during its bankruptcy proceedings.

The media outlets filed their objection in an April 4th filing to a Delaware Bankruptcy Court, arguing that the press and public have “a presumptive right of access to bankruptcy filings.” While FTX’s debtors have argued for the names of creditors to be redacted, the media outlets contend that FTX and its customers have not provided sufficient justification for such secrecy.

The Ad Hoc Committee of Non-US Customers of FTX.com has claimed that publicly revealing the names and private information of non-US customers would leave them vulnerable to identity theft, targeted attacks, and other forms of harm. In response, the media outlets have argued that “public access is of the utmost importance” in these proceedings, given the significant public interest in the US legal system’s handling of the largely unregulated cryptocurrency market.

Judge John Dorsey has allowed the names and addresses of FTX’s customers to be redacted for an additional three months in response to the Committee’s filing. However, he remains reluctant to disclose confidential information that could put creditors at risk. This decision comes after crypto lending platform Celsius failed to keep its customers’ names redacted during its bankruptcy proceedings, leading to the disclosure of the personal details of thousands of customers on October 5, 2022.

The dispute highlights the tension between the privacy concerns of cryptocurrency customers and the public’s right to access information about bankruptcy proceedings. As the cryptocurrency market continues to grow and attract more attention, similar conflicts will likely arise in the future, requiring courts to balance the interests of the parties involved.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin Spot ETF Outflows Reach Second Highest in History

Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…

2 hours ago

PropiChain’s Token Presale Turns Heads as the First DeFi Platform to Merge NFTs with AI 

The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…

5 hours ago

UK Pension Fund Cartwright Encourages 3% Allocation to Bitcoin Investment

UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…

7 hours ago

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

8 hours ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

11 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

14 hours ago

This website uses cookies.