Bahamian lawyers pursue access to FTX data of international clients

Authorities around the world are racing against time to bring justice to the millions of people affected by financial fraud committed by FTX CEO Sam Bankman-Fried. As part of the ongoing investigations, lawyers representing the Bahamas Securities and Exchange Commission are seeking access to FTX’s database of international client information.

The Bahamian lawyers filed an emergency motion with a Delaware bankruptcy judge requesting access to FTX’s client database to assist in their ongoing investigations. the movement it highlighted previous failed attempts to access the database of the defunct crypto exchange. As a result, the lawyers claimed that FTX employees and lawyers prevented authorities from obtaining critical financial information.

According to reports, the database in question is stored in the Amazon Web Services (AWS) and Google Cloud Portal databases, which include personal information such as wallet addresses, customer balances, records of deposits and withdrawals, transactions and accounting data. According to the lawyers, the US bankruptcy process “will not suffer damage or difficulty if this relief is granted.”

While AWS was used to store customer information, FTX used Google services as an analytics platform for data from users residing outside of the United States. According to the file obtained by CNBC:

“While the Joint Provisional Liquidators are happy to enter into dialogue with the US Debtors, their refusal to immediately restore access has frustrated the Joint Provisional Liquidators’ ability to carry out their duties under Bahamian law. and has put FTX Digital’s assets at risk of dissipation. ”

The latest ripple effect of the FTX fraud was felt by news outlet The Block, which did not disclose funding for Alameda Research. The Block CEO Mike McCaffrey resigned from his position after not disclosing $27 million loans from FTXThe sister firm of Alameda Research.

Related: CZ and SBF spar on Twitter over failed FTX/Binance deal

On December 7th, the new FTX management team reportedly hired a team of financial forensic investigators to track lost customer funds exceeding $450 million in cryptocurrency.

As Cointelegraph previously reported, the forensics firm is tasked with conducting an “asset crawl” to identify and recover missing digital assets and will complement the restructuring work being carried out by FTX.