It is not a hack the Bahamian government are seizing their assets.
I thought that the seized assets will either stay as they were, either will be sold for fiat. But selling for Bitcoin...? looks a bit suspicious to me.
...Not that I'd mind to see a government have more trust in bitcoin than fiat.
Initially my first thought. I thought those seized funds will remain in the form that they were seized, and afterwards be sold to an auction after everything is clear and the sale has a green light. Not sure why they need to convert into something else when the crypto they seized is already usable and valuable as it is. Also, the price movement patterns of ETH and BTC isn't really that different from one another so I don't know what the intention on converting these coins in the first place.