Coin Edition -
- Former US SSS agent backs anonymity of FTX creditors in bankruptcy proceedings.
- Major media outlets object to the redaction of customer names in the case.
- An advocacy group launches a campaign to help FTX creditors.
Jeremy Sheridan, a former US Secret Service agent, has voiced his support for the anonymity of creditors in the FTX bankruptcy case, citing the risks posed by cybercriminals in the crypto sector.
Sheridan, a specialist in probing financial cybercrimes, argued that identifying customers of the fallen crypto exchange would increase the risk of identity theft, asset theft, personal attack, and further online victimization.
In an April filing, major media outlets, including Bloomberg, The Financial Times, and The New York Times, jointly objected to the redaction of customer names in the ongoing bankruptcy proceedings. While FTX’s debtors have been able to argue for the names of creditors to be redacted, the media outlets believe that customers’ identities should not be shielded from public view.
Media group files objection to redacting FTX customer names.If the objection succeeds, the names of up to 1.4 million customers and their FTX balances would be made public. pic.twitter.com/w0avsJ6JYv— FTX 2.0 shareholder (in spe) (@AFTXcreditor) April 5, 2023
Previously, the Ad Hoc Committee of non-US FTX customers said that publicly revealing the names of non-US clients could leave them vulnerable to identity theft, targeted attacks, and other forms of harm.
However, the media outlets contended that the press and the public have the right to such information. They also argued that if customer names were routinely sealed in every bankruptcy proceeding, it would set a dangerous precedent for transparency and accountability.
Recently, the advocacy group Digital Currency Traders Alliance (DCTA) launched a campaign for FTX creditors to help them participate in the ongoing bankruptcy process.
“FTX Creditors have been left out in the cold and out of the ongoing bankruptcy process,” the advocacy group argued in a recent statement, encouraging affected persons to “speak up today and help ensure that” their funds are fought for and are eventually recovered.
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