News

Bankman-Fried’s Attorneys Having Trouble Monitoring His Parents’ Phone

Key Points:

  • Sam Bankman-Fried was designed to be monitored automatically between devices, but some have shown to be resistant.
  • The defense claimed it is looking at other ways to monitor Bankman-Fried’s parents’ mobile phones.
According to Decrypt, attorneys representing Sam Bankman-Fried said that they had experienced unforeseen problems while seeking to comply with the court’s particular bail requirements.

The problem is that he installed software on his parents’ cellphones that took images of the user every five minutes in order to continually monitor who was using them.

“We learned recently that the monitoring software installed on the new cellphones we purchased for Mr. Bankman-Fried’s parents cannot, in fact, automatically photograph the device’s user every five minutes as required by the order,” according to attorneys Mark Cohen and Christian Everdell.

The defense claimed it is looking at other ways to monitor Bankman-Fried’s parents’ mobile phones, as required by the ruling.

Although the type of phone used was not mentioned, current smartphones have improved their security protections, such as app sandboxing, a security approach that isolates programs in a limited environment, safeguarding the device’s operating system and other data from possible damage. It establishes a “safe zone” for programs, reducing the effect of harmful malware or vulnerabilities.

“It’s not illegal to jailbreak a phone. The Digital Copyright Act of 2010 grants users the right to root access their phones, but they are legally responsible for abiding by copyright law on what they put it on it,” Walbroehl said.

In addition, Apple released a new lockdown mode for iOS 16, iPadOS 16, and macOS Sierra in October. The optional security feature is intended for users who are vulnerable to sophisticated digital threats, and it restricts device functions such as online surfing limitations and limits incoming FaceTime calls to decrease spyware exposure.

Bankman-Fried’s legal team has asked for an extension until Friday, April 21, 2023, in a letter to presiding Judge Lewis Kaplan. The defense has requested a third extension since the first order on March 28, 2023; prior extensions were granted on April 4 and April 11.

Judge Kaplan granted the motion, and Bankman-Fried’s counsel has requested that his parents continue to use their current mobile phones until a solution is reached.

The now-defunct exchange and erstwhile Bankman-Fried institution, FTX, is likewise in legal difficulties. Silvergate Bank is a California court investor in three FTX-related litigation. According to United States District Judge Jacqueline Scott Corley of the Northern District of California, the three cases will be historic. Silvergate is accused by both parties of enabling investment fraud via FTX.

Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.

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.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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