Signage for the FTX Arena, where the Miami Heat basketball team plays, is illuminated Saturday, Nov. 12, 2022, in Miami. Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday, Nov. 11. (AP Photo/Marta Lavandier) Source: AP / Marta Lavandier/AP
Authorities in the Bahamas are investigating alleged criminal violations by former cyptocurrency giant F-T-X after its sudden collapse.
Authorities in the Bahamas are investigating alleged criminal violations by former cyptocurrency giant F-T-X after its sudden collapse.
The collapse of the FTX has sent shock waves against the cryptocurrency industry and prompted renewed calls to regulate the sector. The
Once a multibillion-dollar cryptocurrency company, began to unravel after concerns over its financial health led to withdrawals of about $9 billion in three days.
It was that caused the cash crunch and became the main cause of FTX bankruptcies.
Hours later, it was announced that the company was investigating an alleged $500 million cyber attack.
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