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Isn’t this just people that live in the Bahamas draining their own accounts (which is still allowed)? Plus, obviously, people who can find a random Bahamas nat
by alasdair_ 4y ago
Isn’t this just people that live in the Bahamas draining their own accounts (which is still allowed)?
Plus, obviously, people who can find a random Bahamas native to KYC their account for them.
- paxys 4y agoI imagine a large chunk of FTX users in the Bahamas are FTX employees, and others associated with the company.
- 55555 4y agoAt the very least they would know someone there who is a citizen and could withdraw their funds for them. A loophole was utilized where a Bahamanian FTX user would create an NFT on FTX's NFT marketplace, and the locked user would buy it with the price equal to all of their funds. Then the Bahamanian would withdraw to fiat and take their cut. People probably made dozens of millions in a day taking 50% cuts while laundering people's money out.