SBF, Founder of FTX, Under Scrutiny for VPN Use in Violation of Restraining Order

02/14/2023 07:33 • Tech Ticker • 162 views

According to reports, US prosecutors said that they found that Sam Bankman-Fried (SBF), the former chief executive of FTX, had used virtual private network (VPN) to access the Internet for the last two times. It is reported that Lewis Kaplan, the U.S. District Judge, refused to approve an agreement negotiated between the prosecutor and Bankman-Fried on February 9, which required him to stop using other applications such as Signal, and only contact a specific group of former and current FTX employees, while retaining his right to use WhatsApp, iMessage with monitoring technology and call Zoom and FaceTime.

US prosecutors found that SBF has used VPN to access the Internet twice recently

Interpret the above information:

Sam Bankman-Fried, the former CEO of FTX, has come under fire once again after it was discovered that he had used a virtual private network (VPN) to access the internet. This comes in violation of an agreement that he had pending with US prosecutors, which would have limited his access to certain applications and specific groups of people. The US District Judge overseeing the case, Lewis Kaplan, refused to approve the agreement, as it was discovered that Bankman-Fried had used a VPN to access the internet on two occasions in the past.

The discovery of Bankman-Fried’s VPN use has raised questions about the intentions of the former CEO. A VPN is typically used to conceal a user’s identity and location, and it is not clear why Bankman-Fried would have felt the need to use this technology if he was not trying to hide anything. Moreover, the use of a VPN while under a restraining order implies that Bankman-Fried was not fully committed to adhering to the terms of the agreement he had negotiated with US prosecutors.

The broader context of this story is the ongoing scrutiny of cryptocurrency and blockchain-based companies by US regulators. FTX is an up-and-coming player in this space, and Bankman-Fried’s actions have now drawn increased scrutiny to the company. The fact that he was in negotiations with US prosecutors to limit his access to certain apps and groups of people suggests that there may be larger issues at play, and that FTX may not be adhering to regulatory expectations.

In summary, the use of a VPN by Sam Bankman-Fried, former CEO of FTX, has raised concerns about his intentions and commitment to the terms of an agreement negotiated with US prosecutors. Bankman-Fried’s actions have also drawn increased scrutiny to FTX and its regulatory adherences. This story highlights the broader regulatory challenges facing cryptocurrency and blockchain-based companies as they seek to navigate an increasingly complex and scrutinized landscape.

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SBF, Founder of FTX, Under Scrutiny for VPN Use in Violation of Restraining Order

US prosecutors found that SBF has used VPN to access the Internet twice recently

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