Not The US, Turkish Government Curi Start Investigation Founder Of FTX Sam Bankman-Fried On Alleged Fraud

The Turkish government has started investigating the problematic crypto exchange, FTX. (Photo; Doc. Unsplash)

JAKARTA The FTX crypto exchange has filed for bankruptcy protection on 11 November. The company was unable to pay off debts to creditors worth US$8 billion or Rp125 trillion.

Beincrypto reports that Sam Bankman-Fried sent about $2 to $3 billion to FTX partner company Alameda Research. The funds are FTX customer funds. Alameda CEO Amanda Ellison intends to increase the company's liabilities.

After FTX filed for bankruptcy, the Alameda website cannot be accessed by the public. It seems that the company put its web into private mode. Until now, users' billions of dollars have just disappeared due to the actions of FTX and Alameda. FTX itself is a crypto trading platform with users from various countries in the world including in Turkey.

In response to the issue, the Turkish government launched an investigation into former FTX CEO Sam Bankman-Fried. Local media reported authorities in Ankara had seized the assets belonging to the boss of the bankrupt crypto trading company.

In starting this investigation, Turkish financial regulators decided to start an FTX boss investigation into alleged fraud. The move follows the initiation in mid-November of an investigation into the collapse of the company, which also operates its platform in Turkey, as reported by Bitcoin.com News.

The investigation was led by the country's Financial Crime Investigation Agency (MASAK), a department under the Ministry of Finance and Treasury. As part of them, authorities have seized SBF assets and other affiliates, Anadolu Agency reported on Wednesday.

Responding to FTX's collapse and the risk of digital assets, Nureddin Nebati as Turkish Finance Minister argued that the crypto market should be very carefully approached. The investigation was carried out considering that fiat lira is experiencing high inflation. This condition triggered Turkish citizens to store their funds in cryptocurrencies that have limited supply.

However, market uncertainty in the bear market in recent months and the recent bankruptcy of the FTX crypto exchange have had a negative impact on cryptocurrency investors.