The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF)
4 weeks ago 1 min read

DOJ Seeks to Restrict Sam Bankman-Fried’s Bail to Flip Phones Only

The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF), requesting he is restricted from using smartphones, tablets, computers, and other devices that allow chat and voice communication. The proposal restricts his communication to a flip phone or other non-smartphone with either no internet capabilities or internet capabilities disabled. The proposal was submitted to District Judge Lewis Kaplan of the Southern District of New York, requesting to make the temporary bail conditions recently imposed permanent. The temporary terms include no contact or communication with current or former employees of FTX or Alameda

A US District Judge has banned Sam Bankman-Fried from using VPN
1 month ago 2 mins read

Judge Bans Sam Bankman-Fried from Using VPN While Under House Arrest

A US District Judge has banned Sam Bankman-Fried, the former FTX boss, from using a virtual private network (VPN) after he admitted to using it to watch the Super Bowl while under house arrest. The judge cited the risks associated with using encrypted messaging or call applications and has amended the defendant’s release conditions, effective immediately. This move comes as Bankman-Fried’s lawyers negotiate his bail terms with prosecutors. Recently, the judge barred Bankman-Fried from using encrypted messaging apps, such as Signal, after he was accused of contacting a potential witness in his criminal case. Bankman-Fried is also prohibited from contacting

Massive stETH-to-Ethereum Swap by SBF-Associated Wallets During Market Depeg
2 months ago 1 min read

$90M in stETH Swapped for Ethereum in SBF-Linked Wallets

Blockchain security firm PeckShield identified three wallets that converted 63,860 staked Ethereum (stETH), worth approximately $90 million, to Ethereum (ETH) when the stETH/ETH peg dropped to a monthly low between May 2022 and June 2022. The three wallets withdrew stETH from FTX, swapped it for ETH, and transferred the funds back to the exchange, leading PeckShield to believe the transactions might be connected to FTX founder Sam Bankman-Fried (SBF). Two wallets, “0x1b23” and “0x2e85,” withdrew a total of 49,000 stETH, worth $66 million, from FTX, converted it to 42,000 ETH, and returned the funds to FTX. The motive behind the

FTX's ex-boss Bankman-Fried uses Signal to stay in touch with past colleagues during legal case
2 months ago 1 min read

Bankman-Fried utilizes Signal to keep in touch with past colleagues amid legal case

Federal prosecutors overseeing the case against Sam Bankman-Fried, the former CEO of FTX, have requested that the court impose stricter bail conditions on him. They discovered that Bankman-Fried, also known as SBF, had been messaging the general counsel of FTX US via the messaging app Signal. Signal is known for its focus on security and privacy, and is used by over 40 million people. Prosecutors claim that the messages sent to the general counsel of FTX US, who could potentially be a witness in the case against SBF, were “suggestive of an effort to influence a witness’ potential testimony.” As

FTX Bankruptcy Law Firm Targets SBF Family in Search of More Assets
2 months ago 2 mins read

FTX Bankruptcy Attorneys Target SBF Family in Search of Additional Assets

FTX exchange filed for bankruptcy in November 2022. As part of the bankruptcy proceedings, FTX’s lawyers have asked Judge John Dorsey for permission to subpoena family members of Sam Bankman-Fried, the former CEO of FTX, and several former executives to testify under oath regarding any financial benefits they may have accrued from the exchange’s business. The lawyers are searching for any assets that can be used to repay the exchange’s creditors. According to Bloomberg, Sam Bankman-Fried’s father, Joseph Bankman, who is a law professor, offered tax advice to FTX employees. Sam’s brother, Gabriel, was involved in political lobbying from a