Bahama authorities start investigating the FTX illegality

The Bahama authorities have begun an investigation into the illegal act of the Global Virtual Asset Exchange FTX. It's been a day since the FTX was investigating $600 million worth of coins.

The Bahama police said in a statement on Tuesday that they are investigating the FTX headquarters in Bahama.

The Bahama police said, In light of the global collapse of the FTX and the temporary liquidation of the FTX digital market, the financial investigation team of the Financial Criminal Investigation Bureau is working closely with the Bahama Securities Commission to investigate whether crimes occurred.

According to Reuters, Sam Bank man Fried CEO is currently in Bahama.

FTX moved its headquarters to Bahama last year. Sam Bank man Fried said, Bahama is one of the few places to set up a comprehensive framework for virtual assets.

The FTX filed a bankruptcy on November 11. Sam Bank man Fried resigned, and John J. REI III was appointed as a new CEO. Sam Bank man Fried, CEO, said he remains in the company to support the new CEO.

The FTX said on Wednesday that $600 million in coins were drawn from some virtual asset wallets. The FTX explained that the encryption assets are stolen and that all digital assets are moving to cold storage. The exact situation in which assets leaked were not yet known.