Turkey Authorities to Seize FTX Assets

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The Turkish authorities are studying the possibility of confiscating suspicious assets associated with FTX, which filed for bankruptcy in the US on November 11.

In parallel, law enforcement agencies of the country are investigating the founder of the company, Sam Bankman-Fried.

According to the press service of the Financial Crimes Investigation Commission (MASAK), the Istanbul Prosecutor General’s Office will issue permission for a more thorough investigation soon.

In addition, the agency has authorized the confiscation of property and other assets that may be directly or indirectly related to the FTX exchange.

Sam Bankman-Fried announced his resignation as CEO of FTX on November 11. On the same day, FTX filed for bankruptcy. On November 14, the MASAK launched an investigation into the activities of the local branch of the trading platform.

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