The Bahamian attorneys have filed a motion with a Delaware bankruptcy judge requesting access to FTX’s customer database in order to aid their investigations. The motion is marked as “emergency” and is intended to help the attorneys gather critical information for their ongoing case.
Attorneys representing the Securities Commission of the Bahamas are seeking access to FTX’s database of international customer information as part of their ongoing investigations into the financial frauds committed by FTX CEO Sam Bankman-Fried. Authorities across the globe are working to bring justice to the millions of people affected by these frauds. The attorneys believe that access to the database will be crucial in identifying any wrongdoing and taking appropriate action.
The Bahamian attorneys have filed an emergency motion with a Delaware bankruptcy judge requesting access to FTX’s customer database to aid their ongoing investigations. The motion notes previous failed attempts to access the defunct crypto exchange’s database, and claims that FTX employees and counsel have prevented authorities from getting critical financial information. The attorneys believe that access to the database will be crucial in their investigation and have requested the court’s assistance in obtaining it.
According to the attorneys, the database in question is stored on Amazon Web Services and Google Cloud Portal databases, and contains personal information such as wallet addresses, customer balances, deposit and withdrawal records, trades, and accounting data. The attorneys claim that the U.S. bankruptcy proceedings will not be harmed by granting access to the database, and have requested the court’s assistance in obtaining it.
According to the filing, FTX used Amazon Web Services to store customer information, while Google services were used as an analytics platform for data of users residing outside of the United States. The filing was sourced by CNBC:
“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 consequence of the FTX fraud scandal was felt by media outlet The Block, whose CEO Mike McCaffrey resigned after failing to disclose $27 million in loans from Alameda Research, the sister firm of FTX. The Block had also failed to disclose its funding from Alameda Research. The domino effect of the FTX fraud continues to be felt throughout the industry.
On December 7, the new management team at FTX reportedly hired a team of financial forensic investigators to track down customer funds totaling over $450 million in cryptocurrencies that are missing. The investigators will work to identify and recover the missing funds in order to provide relief to affected customers.
