The Bahamas Securities Commission is within the possession of a important quantity of FTX’s buyer funds.

In a Dec. 29 media free up, the Bahamas regulator acknowledged that it held $3.5 billion worth of FTX users’ assets, which it took into custody for safekeeping.

The Bahamas Securities Commission acknowledged it had acquired a courtroom say to rob possession of these assets after it determined there became as soon as a important likelihood that they’d presumably perhaps perhaps be misplaced after fashioned FTX CEO Sam Bankman-Fried supplied them with records about “cyberattacks” on the change’s programs.

The funds were reportedly transferred from FTX to the Bahamas Securities Commission’s digital asset wallets on Nov. 12 after the change reported it became as soon as hacked. Blockchain analysts estimate that around $372 million became as soon as stolen from the change and became as soon as seemingly the work of an insider. The alleged hack is now the topic of an inquiry from the U.S. Department of Justice.

The regulator acknowledged it would continue to custody these funds till the Bahamas Supreme courts directs them to ship the funds to prospects and collectors.

In the assertion, the Commission reiterated that it had now not in any technique directed or authorized FTX to prioritize withdrawals for Bahamas-basically basically based completely prospects – something that FTX claimed it had been requested to discontinue correct now after it halted withdrawals.

FTX’s liquidators hang furthermore claimed that Bahamian authorities directed Bankman-Fried to mint hundreds of millions of bucks of digital tokens and transfer them to executive officials.

The Bahamian authorities and FTX’s liquidators, led by newly appointed CEO John Ray III, were at odds over the direction of the last few weeks regarding the occasions following the change’s crumple.

“The Commission will continue to behavior a entire and diligent investigation into the causes of FTX’s failure, act in conserving with instructions issued by the Supreme Court docket of The Bahamas,” acknowledged the Bahamas Securities Commisson in its assertion on Thursday.