The judge overseeing FTX’s bankruptcy proceedings agreed to allow the bankrupt exchange to redact the names and addresses of its creditors – at least on an interim basis – citing concerns of hacking and other cyber threats. cheyenneligon reports
FTX creditors concerned about their names and other personal information being disclosed as part of the crypto exchange’s bankruptcy proceedings can breathe a sigh of relief – at least temporarily.
Lawyers from Sullivan & Cromwell, the white-shoe law firm representing FTX, pushed back, arguing that it was important to protect FTX’s customers from being involuntarily disclosed as investors. They also claimed that FTX’s customer list was one of the firm’s most valuable assets and, as such, should be protected from rival exchanges.
“I need to make sure I’m protecting the interests of these individuals,” Judge Dorsey said. “This is a space where it’s done over the internet. And everyone in this room knows the internet is wrought with potential dangers. Hacking happens, people’s accounts get hacked. And I think it’s important that we protect those individuals who are seeking to participate [in the bankruptcy process.]”
James Bromley of Sullivan & Cromwell told the court that FTX has continued to suffer from cyber attacks since the hack that drained hundreds of millions of dollars in crypto on the night the exchange declared bankruptcy.
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