Authorities over the globe are fighting versus time to bring justice to the millions of people influenced by the financial frauds committed by FTX CEO Sam Bankman-Fried. As part of the continuing investigations, attorneys describing the Securities Commission of the Bahamas seek admission to FTX’s database with international customer information.
The Bahamian attorneys filed an emergency motion with a Delaware bankruptcy judge demanding access to FTX’s customer database to assist their ongoing investigations. Moreover, the motion emphasized failed attempts to access the extinct crypto exchange’s database. Consequently, the lawyers claimed that FTX employees and counsel deterred authorities from getting critical financial information.
The database is reportedly on Amazon Web Services (AWS) and Google Cloud Portal databases. They include personal information like wallet addresses, customer balances, deposit and withdrawal records, trades, and accounting data. As stated by the lawyers, the U.S. bankruptcy proceedings will suffer no damage or hardship because of this relief.
Where Do Funds Come From?
FTX used Google services as an analytics platform for data of users residing outside of the United States.
The latest domino effect of FTX fraud was supposed by media outlet The Block, which had fallen to announce funding from Alameda Research. Moreover, the Block CEO Mike McCaffrey stepped down from his position after failing to publicize $27M loans from FTX’s sister firm Alameda Research.
Furthermore, on Dec. 7, the new management team of FTX reportedly employed a team of financial forensic investigators to track down the missing customer funds surpassing $450M in cryptocurrencies.
