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Comment by bmitc | Hacker News Reader

Why did FTX publicly announce it as a hack then?

FTX chose to file for bankruptcy in America. There is a jurisdictional dispute between the US and the Bahamian court over where the bankruptcy proceedings should take place.

In my view FTX chose to incorporate in the Bahama's for a reason, and that reason wasn't the transparency and integrity of the Bahamian legal system.

What does that have to do with the announcement of the unauthorized access?

They didn't incorporate in the Bahamas.

They incorporated in "Antigua and Barbuda", which is a very seperate country. The only relationship FTX has with Bahamas, is the location of their headcounters, and a single wholly-owned subsidiary that probably didn't hold much in the way of funds.

> The only relationship FTX has with Bahamas,

The Bahamas has the only relationship that actually mattered: apparently SBF was physically in their custody.

I believe the Bahaman incorporated entity is "FTX Digital Markets Ltd" https://bfsb-bahamas.com/providers/name/ftx-digital-markets-...

This is the entity (alongside the physical presence of SBF) by which the Bahamas are arguing they have jurisdiction over the FTX bankruptcy proceedings.

> They incorporated in "Antigua and Barbuda"

Why is Antigua and Barbuda in quotes here?

The announcement was from the new FTX under emergency CEO Ray, not the old FTX under SBF. And the Bahamas claims that the specific FTX company that did the transfers, FTX Digital Assets, was not a part of the bankruptcy proceedings and that SBF was still its CEO.

Finally, new-FTX did not say they were "hacked", only that the transfers were not authorized by them.

SBF straight up said multiple times it was a hack in his leaked talks with a vix reporter many days alter

Do people still hold anything this guy says as having any truth to it?

Well, i do not take it as truth that it was a hack, but I do take it as as lie that he never said it.

It’s pretty simple, he was lying.

Considering that SBF was reported to be "under supervision" by the authorities, it doesn't seem too implausible that the Bahamian government showed up to their office and politely requested an employee with access to transfer the funds, and for them to keep their mouth shut.

Agree with all but the last sentence. Because it seems the Bahamas had a legal court order to confiscate assets from a comoany in their jurisdiction.

> his leaked talks with a vix reporter

I'm pretty sure when you give an on the record interview, and that gets published, it's not a "leak".

The whole thing has been surrounded by misinformation, misdirection and outright lies. I still don't think there has been enough credible information released to form a complete picture at this point.

Exactly. The media lied about SBF (or at least didn't research anything) since and for years. There's no reason to believe any reporting they do now is anywhere near the full picture.

There's also no reason to believe articles written about SBF aren't politically motivated anymore.

Because they enjoy lying? Who knows what evil lurks in the hearts of crypto bros.

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