The Bahamian Securities Commission has taken custody of more than $3.5 billion worth of FTX customer deposits, according to a media release. The regulator moved to take custody of the funds after media reports revealed FTX had been hacked.

The Central Bank of the Republic of Turkey has completed the “first payment transactions” of its central bank digital currency (CBDC), the Digital Turkish Lira, and has signaled plans to keep testing throughout 2023.

The U.S. Federal Bureau of Investigation (FBI) is investigating the data breach at trading bot platform 3Commas, after weeks of criticism from users of the Estonia-based service, who claim that its CEO repeatedly ignored warning signs that the platform leaked user data.

Top stories in the Crypto Roundup today:

• Bahamian Regulators in Custody of $3.5 Billion of FTX Deposits
• Turkish Central Bank Completes First CBDC Payment Transaction
• FBI Investigates 3Commas Data Breach
• Crypto Market Movers – AMPL, OKB, BIT

Bahamian Regulators in Custody of $3.5 Billion of FTX Deposits

The Bahamian Securities Commission has taken custody of more than $3.5 billion worth of FTX customer deposits, according to a media release. The regulator moved to take custody of the funds after media reports revealed FTX had been hacked.

Shortly after the exchange filed for bankruptcy, around $372 million worth of tokens were stolen from its wallets by an unknown actor, believed to be an external hacker. Given the risk of possible looting by former employees, the regulator moved in.

Per the Commission’s media release, it “determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of [FTX] to the prejudice of its customers and creditors."

The assets are set to be held until the Bahamas Supreme Court directs the Commission to deliver them to the customers and creditors who own them. The regulator also stressed it did not direct FTX to prioritize the withdrawals of Bahamas-based clients.

Turkish Central Bank Completes First CBDC Payment Transaction

The Central Bank of the Republic of Turkey has completed the “first payment transactions” of its central bank digital currency (CBDC), the Digital Turkish Lira, and has signaled plans to keep testing throughout 2023.

The central bank plans to conduct limited, closed-circuit pilot tests with technology stakeholders in the first quarter of 2023, before expanding the tests to include selected banks and financial technology companies later in the year.

The results of these tests, it said, will be shared with the public through a “comprehensive evaluation report” before unveiling more of the next phases of the study. The central bank also said it will keep on testing the use of distributed ledger technology in payment systems.

The Central Bank of the Republic of Turkey will also prioritize studying the legal aspects of the digital Turkish Lira, including the economic and legal framework around digital identification and its technological requirements.

FBI Investigates 3Commas Data Breach

The U.S. Federal Bureau of Investigation (FBI) is investigating the data breach at trading bot platform 3Commas, after weeks of criticism from users of the Estonia-based service, who claim that its CEO repeatedly ignored warning signs that the platform leaked user data.

This week, 100,000 Binance and KuCoin API keys linked to 3Commas were leaked. On Thursday, the trading bot service’s users reported being contacted by agents from the FBI’s Cincinnati Field Office in connection to the leak.

Over the past several months, numerous 3Commas users have discovered that the platform traded away funds on linked crypto exchanges without their consent.

3Commas initially attributed these unauthorized traders to user phishing, and maintained its platform was secure. It only confirmed the API keys were leaked this week, before asking exchanges to “revoke all of the keys that were connected to 3Commas.”

Crypto Market Movers – AMPL, OKB, BIT

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Ampleforth (AMPL) - Ampleforth is a digital-asset-protocol for smart commodity-money. The Ampleforth protocol receives exchange-rate information from trusted oracles and propagates that to holders of its units (Amples) by proportionally increasing or decreasing the number of tokens each individual holds.

OKB (OKB) - OKB is a digital asset issued by OKEx, a digital asset exchange based in Malta. OKB is designed to be used as a utility token on the OKEx platform, and it can be used to pay for transaction fees, participate in token sales, and access various features and services on the platform.

BitDAO (BIT) - BitDAO is one of the world's largest DAOs (Decentralized Autonomous Organization). Its vision is open finance and a decentralized tokenized economy. ‌BitDAO is a protocol governed by BIT token holders. It welcomes all individuals and communities to join and contribute.

State of the Crypto by Top Tier Exchange Volume

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