(Image source from: Raftar.com)

Sam Bankman-Fried, the founder of FTX that forced the cryptocurrency exchange declared bankruptcy last month. Sam Bankman-Fried was arrested yesterday in the Bahamas after being charged by the US prosecutors. The 30-year-old shot fame to create the world's largest cryptocurrency exchanges and he also got named in the Forbes a year ago with a net worth of 26.5 billion USD. The exchange was launched in 2019 and it is based in the Bahamas. FTX filed for bankruptcy on November 11th after it was struggling to raise the money. The traders rushed to withdraw 6 billion USD from the platform in the next 72 hours. Sam Bankman-Fried was arrested after there was a formal confirmation from the Attorney General. He will be soon extradited to the United States.

Sam Bankman-Fried has been arrested at 6 PM on Monday at his apartment complex that is located in Nassau's Albany in the Bahamas. "He was arrested reference to various Financial Offences against laws of the United States, which are also offences against laws of the Commonwealth of The Bahamas," told the official statement. He will be shown in Magistrate Court in Nassau. U.S. Attorney's office in Manhattan confirmed his arrest but they declined to comment. United States prosecutor Damian Williams said in a statement "Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the United States Attorney's Office for the Southern District of New York".

The lawyer of Sam Bankman-Fried did not respond to the request to comment about his arrest.