According “Reports that the funds taken from FTX were truly sent to the Securities Commission of The Bahamas are incorrect.”
According to blockchain analysis , funds purloined from the FTX crypto exchange are currently being reborn from ETH into Bitcoin. On Nov. 20, took to Twitter to encourage exchanges to freeze these coins, should the thief commit to convert them into edict or additional modify the assets through other means.
Amid the controversial collapse and bankruptcy of FTX, news broke that an unknown actor had stolen 228,523 ETH from the exchange. The ownership of these coins, worth a whopping $268,057,479 USD at time of publication, presently rank the malefactor jointly of the largest house owners of ETH within the world.
Though initial reports prompt that all of the funds in question may well be in the custody of securities regulators within the Bahamas, poured cold water on this theory but, stating:
At time of publication, or so 31,000 ETH had been reborn into wrapped BTC. The malefactor then sent the coins crosschain to a Bitcoin mainnet wallet using the Ren Protocol, with the final amount received totaling 2444.55 BTC.
It’s been a tricky few weeks for those affected by the collapse of FTX and its associated corporations. Earlier nowadays, a press release indicated that FTX debtors are in talks with finserv firm Perella weinberg Partners with reference to numerous reorganization makes an attempt. The engagement is subject to the bankruptcy court’s approval, however.
Meanwhile, the company’s founder guided missile Bankman-Fried allegedly remains "under supervision" within the Bahamas, though some worry he might attempt to flee to port if given the chance. it's unclear however this case would play out ultimately, on condition that the UAE and the USA have an agreement on evidence sharing judicial cooperation and help in criminal investigations and prosecutions.
(Jeffrey Albus, Cointelegraph, 2022 )