Tech

The founder of the FTX crypto exchange was arrested

 

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, has been arrested in the Bahamas, the BBC reported.

US federal prosecutors filed criminal charges against him in New York. Benkman-Fried is considered one of the richest people today, but in recent days he has stirred the public because he has been accused of fraud.

According to police, 30-year-old Sam was arrested for financial violations of laws in the United States and the Bahamas. Last month FTX filed for bankruptcy in the US, leaving users unable to withdraw their funds.

According to court records, FTX owes nearly $3.1 billion to its 50 largest creditors. It is unclear how much money people will be able to get back after bankruptcy, but experts warn that it will likely be small amounts.

The FTX exchange allowed users to trade real money for cryptocurrencies such as Bitcoin.

The New York Times reported that Sam faces fraud and money laundering charges.

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