New Data Reveals FBI Collected Transactional Data of FTX Customers During Bankruptcy Proceedings
According to billing documents from consultancy group Alvarez and Marshal, the Federal Bureau of Investigation (FBI) collected transactional data from FTX customers during the crypto exchange’s bankruptcy proceedings. The data was gathered to comply with subpoenas from at least five different FBI field offices. Bloomberg reports that the FBI sifted through cloud data, investigated accounts, and extracted information on specific users’ trades. The billing records, however, do not provide full details of the FBI’s investigation.
Alvarez and Marshal stated that they extracted data from FTX’s Amazon cloud computing services in response to a request by the FBI’s office in Philadelphia. They also responded to requests from FBI offices in Oakland and Portland, investigating customer accounts and extracting customer information related to specific transactions. Subpoena requests were also sent by the field offices in Cleveland and Minneapolis.
Disgraced FTX founder Sam Bankman-Fried was recently found guilty on multiple charges related to the downfall of the exchange. He faces sentencing early next year and could potentially receive a sentence of over 100 years in prison.
Hot Take: FBI Collects Transactional Data of FTX Customers During Bankruptcy Proceedings
In a surprising revelation, it has been discovered that the FBI collected transactional data from FTX customers while the crypto exchange was undergoing bankruptcy proceedings. This information was obtained through billing documents from Alvarez and Marshal, who were assisting FTX as advisers. The FBI issued subpoenas to gather this data, with at least five different field offices involved in the investigation.
The investigation involved sifting through cloud data, investigating accounts, and extracting information on specific users’ trades. While the billing records do not provide full details of the FBI’s activities, it is clear that they accessed FTX’s Amazon cloud computing services to retrieve the necessary data.
These revelations come in the wake of FTX founder Sam Bankman-Fried’s conviction on multiple charges related to fraud, mishandling customer funds, and money laundering. As the legal proceedings continue, it remains to be seen how this latest development will impact the future of FTX and its customers.
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