The Securities Commission of The Bahamas announced late Thursday that it had seized $3.5 billion worth of crypto assets from bankrupt crypto exchange FTX, formerly owned and headed by disgraced billionaire and Democratic mega-donor Sam Bankman-Fried. FTX lost nearly half a billion dollars in a suspected hack on Nov. 11, with the attack beginning just hours after it filed for bankruptcy in the U.S., CNBC reported. The regulator decided to seize the assets on Nov. 12 because they believed there was a significant risk they might be stolen or otherwise dissipated, apparently based on information from Bankman- Fried regarding the alleged hacking incident, according to Thursdays press release.
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