FTX’s Sam Bankman-Fried Used a VPN to Access the Internet Recently, Possibly Hiding Online Activity: US Prosecutors

news7f02/14/2023

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FTX Founder Sam Bankman-Fried Allowed $250 Million Bond, House Arrest

US prosecutors say their discovery that Sam Bankman-Fried used a virtual private network to access the internet on two recent occasions raised concerns that the FTX co-founder may be hiding secrets your online activities. The Manhattan judge dealing with Bankman-Fried’s criminal fraud case last week expressed his own concern that even if the defendant were barred from using encrypted messaging apps like Signal, he would still could use old-fashioned secret codes to contact witnesses in a case, similar to a letter written by Mary, Queen of Scots, more than 400 years ago.

U.S. District Judge Lewis Kaplan refused on February 9 to approve an agreement negotiated between prosecutors and Bankman-Fried, requiring him to stop using Signal and certain other apps and only contact with a particular group before and now. FTX employees, while protecting the right to use WhatsApp with surveillance technology, iMessage, and making Zoom and FaceTime calls.

In a letter to the judge late Monday, a prosecutor at the Manhattan U.S. attorney’s office said the government is in discussions with Bankman-Fried’s attorneys about how to create ground rules. about the internet is acceptable to both parties and the court.

“As the defense attorney has pointed out and the government does not dispute, many individuals use VPNs for benign purposes,” wrote Assistant U.S. Attorney Danielle Sassoon. “However, from the government’s point of view, the use of VPNs raises a number of potential concerns.”

Sassoon writes that a VPN is an encryption mechanism that helps conceal online activities from third parties and disguises a user’s whereabouts, adding that such networks provide access to exchanges international cryptocurrency exchange, allowing undetected data transmission and providing a secret method for accessing the dark web.

The defense team has said that Bankman-Fried will not use the VPN while discussions continue, the prosecutor told the judge.

Bankman-Fried has been living at his parents’ home in Palo Alto, California, after his release in December on a $250 million bail package (approximately Rs 2,070). He is accused of a year-long fraud at FTX and allowing client funds to be used for trading at affiliated hedge fund Alameda Research and for personal expenses.

The case is US v. Bankman-Fried, 22-cr-673, US District Court, Southern District of New York (Manhattan).

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