FTX has refuted claims by the Bahamas Securities Commission (SCB) that it seized digital assets worth $3.6 billion from it.
According to the now-collapsed crypto exchange, the assets which were worth $296 million when they were seized in November are expected to have lowered in value to $167 million.
FTX also added that the seized cryptocurrency assets were majorly FTX’s proprietary FTT tokens.
The SCB earlier said it was moving the assets to its secure wallets and will hold them temporarily until further notice from the court is received to transfer the funds to the owners.
“The seized cryptocurrencies “are being held by the Commission temporarily, until such time as the Bahamas Supreme Court directs the Commission to deliver them to the customers and creditors who own them, or to the JPLs [Joint Provisional Liquidators] to be administered under rules governing the insolvency estate for the benefit of the customers and creditors of FTXDM,”.the SCB said.