Financial Advisors at FTX Are Sending Consumer Transaction Information to the FBI

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Last Updated on November 4, 2023 by Bitfinsider

According to recent court documents, financial advisers for the bankrupt crypto exchange FTX have been giving customer transaction data to the US Federal Bureau of Investigation for the previous few months.

Alvarez & Marsal North America, FTX’s financial advisors, disclosed in recent monthly fee statements that they had received subpoena-related requests from multiple FBI offices across the country to perform certain tasks such as data analysis, transactions, and information extraction.

One task, for example, was to “investigate all transactions and customer accounts related to specific customer accounts regarding a new FBI Philadelphia subpoena request,” according to court records. Other FBI offices in Oakland, Minneapolis, and Portland filed requests as well. Another court filing from earlier this week detailed the FBI’s approach to FTX victims.

Law enforcement has also requested customer account information from other cryptocurrency exchanges. Coinbase reported receiving 12,320 information requests from law authorities around the world from October 2021 to September 2022, a 66% increase over the previous year’s report.

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