Quote from: Beparanf on Today at 04:07:43 PM

Quote from: AverageGlabella on Today at 03:52:01 PM

It is not a hack the Bahamian government are seizing their assets.

source: https://www.msn.com/en-ca/money/topstories/bahamas-regulator-confirms-ftx-asset-seizure-after-hack-accusation/ar-AA14hg7p

Thanks for the correction mate. Im just skeptical because they are converting the confiscated Ethereum into renBTC if they are just seizing all FTX asset. Why do they need to that while they are already holding the control to the funds.

They should just convert it to fiat if they want to liquidate it immediately instead of converting the Eth to different tokens for whatever purposes. If this is really Bahamas government doing, Im really confused on what they are trying to do here.

Yes I think a lot of us are confused by this. I assume since they have confirmed that it is not a hack and they are seizing the assets a explanation will be given on why they converted it to ETH 1st some people are discussing it in another topic but it is all speculation. It does not make sense but I am not from Bahamas so it might be for a reason that only people from the country would know. I doubt it is anything skeptical because the world is watching this happen and they have already claimed to be seizing the assets.