FTX NFTS provided a loophole for non-Bahamas people who wanted to withdraw funds

FTX NFTS provided a loophole for non-Bahamas people who wanted to withdraw funds

The FTX Group has registered bankruptcy according to Chapter 11 in the USA, and customers have tried to get their money from the platform - with all the necessary means.

The crypto exchange had made it possible to stand with-lifting on Thursday, but only on the Bahamas, the location of its headquarters and many employees.

Some users without a Bahamic account found a way to bypass the system by using the FTX NFT marketplace.

The marketplace has recorded a volume of over $ 50 million in the last 24 hours, although a Bahamas' security supervisory authority had frozen the assets of the local subsidiary FTX Digital Markets (FDM).

inhabitants of the Bahamas bought NFTS on the FTX marketplace at excessive prices and pulled out the money for non-inhabitants, tweeted uponlytv moderator Cobie.

A closer look at collections on the marketplace showed some extreme price jumps for some otherwise unobtrusive NFTs.

For example on November 10th, FTX Crypto Cup 2022 Key #25162 Sell for $ 2.5 million in this collection for less than $ 1. The activity for the collection only increased between November 10th and 11th, as dozens of trades were recorded in the six- and seven-digit range.

figcaption> ftx crypto cup NFT sales

The Great APE collection and its ape art NFTS experienced their first jump from $ 1 to $ 500, while the most expensive Ape Art # 312

A user, algodtrading, was insulted by crypto twitter Offer A fee of 100,000 for "kyc on ftx". However, he replied to the screenshot, he "bought no discounted claims/assets or accounts" and that "these rumors are wrong".

While bids are still being submitted on the NFT marketplace, the last trade is made at 2:47 a.m. FTX Crypto Cup 2022 Key NFT for $ 500, which points out that this output ramp is no longer available.