The Bahamian Securities Commission has begun to liquidate the FTX subsidiary

CTOnews.com, November 16, the Bahamas Securities Commission has appointed a number of officials to form a special team to liquidate FTX Digital Markets Ltd, the cryptocurrency exchange FTX based in the country. The committee said the liquidation had been approved by the court and appointed two members from PricewaterhouseCoopers to oversee the FTX liquidation.

CTOnews.com learned that just a day ago, the government of the Bahamas said it would set up a special financial investigation team to investigate possible criminal acts of FTX. The Royal Bahamas Police Department said in a statement:

Due to the collapse of FTX, it is necessary to liquidate FTX Digital Markets Ltd. A team of financial investigators from the Financial Crime investigation Office is working closely with the Bahamas Securities Commission to investigate whether the company has committed criminal misconduct.

FTX itself is investigating the theft of cryptocurrency assets. According to analyst firm Elliptic, about $473 million worth of assets may have been removed from FTX wallets in suspicious circumstances.

On November 11th, FTX filed for bankruptcy and its founder, Sam Bankman-Fried, stepped down as CEO. The turmoil in the cryptocurrency has led to the disappearance of at least $1 billion of customer funds on the platform.