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Court judge bans VPN use for FTX crypto exchange co-founder SBF

Court judge bans VPN use for FTX crypto exchange co-founder SBF 6

Now Sam Bankman-Fried (SBF) can’t use VPN services temporarily, a court judge ruled.

Sam Bankman-Fried (SBF) is a co-founder & former CEO of the FTX crypto exchange. In Nov 2022, FTX collapsed badly along with 100s of its affiliated companies like Alameda Research, FTXUS, etc. On 19 Nov 2022, the FTX team filed for bankruptcy in a US district court under the chapter 11 code. Allegedly SBF misused FTX customers’ funds for personal benefits and that is why he is facing multiple fraud charges. At present, he is living with his parents at home, on behalf of a $250 million bail bond.

Recently the U.S. District Judge Lewis Kaplan ruled that SBF’ can’t use Virtual Private Network (VPN) services citing risks that SBF may communicate with the FTX bankruptcy case witnesses & may violate the bail bond rules easily.

“The defendant’s use of a VPN presents many of the same risks associated with his use of an encrypted messaging or call application…(..)…I hereby amend the conditions of the defendant’s release, effective immediately, to prohibit the defendant’s use of any VPN,” the Court judge ruled.

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Earlier this, the court judge ordered a private messaging app use ban on SBF, as he communicated with some important witnesses of the fraud cause & also had online communication with the current FTXUS president.

Now, the court will introduce the new changes in the SBF’s bail on behalf of the next hearing on Thursday of this week.

According to official investigations, SBF used a VPN service last week. SBF lawyers said that he used only to watch sports games & never misused FTX services. The investigators noted that if SBF will use VPN then it will be hard to trace his internet browsing history.

FTX token

FTX token (FTT) is the native token of the FTX exchange. The current trade price of FTT is $1.59 & this price is 97% down from its all-time high of $53.1.

Court judge bans VPN use for FTX crypto exchange co-founder SBF 5

Read also: Circle (USDC) officer revokes all rumours of enforcement action

Court judge bans VPN use for FTX crypto exchange co-founder SBF

 

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https://bitcoinik.com/court-judge-bans-vpn-use-for-ftx-crypto-exchange-co-founder-sbf/feed/

 

 

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