Media giants like The New York Times, The Financial Times, and Bloomberg have called upon the U.S. bankruptcy court to release the names of 9 million customers linked to the FTX exchange – despite the potential danger it could pose to them. The petition was backed by the fear of exposing people to AI-driven ‘pig butchering’ scams.
As of now, the court has regulated the list of customers under a 90-day confidentiality seal. However, with the approaching expiration of the said seal, the presence of media corporations has increased in the courtrooms. It appears as if they are advocating for the unsealing of the confidential data.
According to the provisions of the U.S. Federal Law, the bankruptcy proceedings are bound to be transparent and open. As per the norm, the companies are obligated to depict their creditors and their creditor’s situation publicly. Such situations have been the grip of scammers and cybercriminals in the past. They have targeted poor and hardworking individuals in hopes of acquiring their savings.
People with their money stuck, or lost, in Samuel Bankman-Fried’s collapsed crypto exchange accounted for the 9 million in numbers. With the deadline of the confidentiality seal nearing, the media companies are imploring the court to release the names after all.
The said company, FTX, is a cryptocurrency exchange and derivative trading platform founded in 2019. It is considered as one of the fastest-growing crypto exchanges and it has become a global market leader with its novel and innovative products. The company is headquartered at Singapore with offices in different parts of the world.
Samuel Bankman-Fried, often referred to as ‘SBF’, is the CEO and founder of FTX. Before founding the global crypto exchange, SBF was the CEO at Alameda Research, a quantitative trading firm. He is also known for his long-term commitment to charitable donations and his donations towards funds designated for public welfare.
