International Consumers’ FTX Data Is Wanted By Bahamian Lawyers
The lawyers from the Bahamas asked a Delaware bankruptcy judge for access to FTX’s customer database to help them with their investigations.
Authorities all over the world are racing against the clock to get justice for the millions of people who were hurt by the financial scams that FTX CEO Sam Bankman-Fried ran. As part of the ongoing investigations, lawyers for the Securities Commission of the Bahamas want to look at FTX’s database of information about international customers.
The lawyers from the Bahamas asked a Delaware bankruptcy judge for access to FTX’s customer database to help them with their investigations. The motion talked about previous failed attempts to get into the database of the now-defunct cryptocurrency exchange. So, the lawyers said that FTX employees and counsel kept important financial information from getting to the authorities.
The database in question is said to be stored on Amazon Web Services (AWS) and Google Cloud Portal databases. These databases hold personal information like wallet addresses, customer balances, deposit and withdrawal records, trades, and accounting data. According to the lawyers, the U.S. bankruptcy proceedings will “suffer no harm or hardship if this relief is granted.”
While AWS was used to store customer information, FTX used Google services as an analytics platform for data from users outside of the United States. According to the filing, which CNBC used as a source:
“While the Joint Provisional Liquidators are happy to engage in dialogue with the U.S. Debtors, their refusal to promptly restore access has frustrated the ability of the Joint Provisional Liquidators to carry out their duties under Bahamian law and placed FTX Digital’s assets at risk of dissipation.”
The latest domino to fall because of FTX fraud was the news site The Block, which didn’t say that it got money from Alameda Research. Mike McCaffrey, the CEO of The Block, quit his job because he didn’t tell anyone about $27 million in loans from FTX’s sister company, Alameda Research.
On December 7, it was said that the new people in charge of FTX hired a team of financial forensic investigators to find the more than $450 million in cryptocurrencies that went missing.
As a previous report shows, the forensics firm is supposed to do “asset-tracing” to find and get back the missing digital assets. This will help FTX with its work on restructuring.
