FTX Clients Attempt Backdoor Ways to Withdraw Their Funds to the Bahamas

From buying Bahamas-based NFTs to offering bonuses to FTX employees, users whose balances are locked into FTX try everything they can to withdraw their money.

As the FTX crisis continues to sweep through the cryptosphere, users of the platform are trying different ways to circumvent the official process of withdrawing their funds from the collapsing exchange.

On November 10, the exchange announced that it would begin Bahamas-based fund withdrawals. According to the exchange, the move is to ensure that its Bahamas headquarters comply with the requirements of regulators in the country.

1) In compliance with regulations and regulators at our Bahamian headquarters, we have begun to facilitate Bahamian fund withdrawals. As such, you may have seen some withdrawals processed by FTX recently, as we have complied with regulators.

From buying non-fungible tokens (NFTs) on Bamahas-based accounts to offering bonuses to FTX employees, FTX users are trying everything they can to withdraw their funds from the exchange of crypto.

Several tweets from community members watching blockchain transactions point out that NFTs are being used to circumvent the bankruptcy process. According to podcaster Cobie, many users with locked balances are likely buying NFTs from the FTX marketplace offered for sale by Bahamas-based users. These blocked users pay with their full balance so that Bahamas-based users can withdraw their funds. Blogger and NFT Project Founder Foobar also spoke about the process and pointed out that millions of Tether (USDT) have been withdrawn so far.

Meanwhile, other users have turned to offering bonuses to FTX employees in exchange for speeding up their Know Your Customer (KYC) application...