Bankrupt, the platform is under investigation by the Bahamas police

After the bankruptcy, the troubles continue for FTX. The police of the Bahamas, a tax haven which houses the headquarters of the cryptocurrency exchange platform, indicated on Sunday that they were investigating to determine if facts of a criminal nature had taken place, in connection with the stock and financial regulator of the archipelago.

“In light of the collapse of FTX globally and the provisional liquidation of FTX Digital Markets Ltd, a team of financial investigators from the Financial Crimes Investigations Directorate are working closely with the Security Commission of the Bahamas to investigate any criminal misconduct,” police said on their Facebook page.

Millions of dollars could disappear

The FTX platform filed for Chapter 11 bankruptcy protection on Friday. Its founder Sam Bankman-Fried, nicknamed “SBF”, 30, resigned the same day, replaced in the process by John Ray. On Saturday, company officials revealed that unauthorized transactions had taken place that could result in the disappearance of hundreds of millions of dollars.

“FTX wallets were emptied of more than $663 million,” according to an analysis by cryptocurrency analyst firm Elliptic, and, in detail, “$477 million was allegedly stolen, while the rest was allegedly stolen. transferred to secure storage by FTX itself”. John Ray had assured that FTX makes “every effort to secure all assets, wherever they are”.

FTX’s downfall began with news reports that revealed its Alameda Research fund was investing in cryptoassets issued by FTX.com in a risky financial package that risked exposing major conflicts of interest. The setbacks were then accentuated by its rival, the number one in the sector, Binance, which had announced the sale of a cryptocurrency linked to the FTX group, then offered on Tuesday to buy FTX.com, before retracting on Wednesday.