With the rippling effect of the FTX turmoil affecting across the cryptosphere, users of the platform are using different measures to bypass the official withdrawing process to retrieve their funds. 

Specifically, on Nov. 10, the exchange reportedly disclosed details of an official announcement regarding its commencement of withdrawals for  funds based in the Bahamas. 

Per the exchange, the initiative has a primary target of keeping its Bahamian headquarters compliant with the demands of regulators within the nation.

“Per our Bahamian HQ’s regulation and regulators, we have begun to facilitate withdrawals of Bahamian funds. As such, you may have seen some withdrawals processed by FTX recently as we complied with the regulators/”

From purchasing nonfungible tokens (NFTs) on Bahamas-headquartered accounts to providing bounties to FTX staff, FTX users are trying whatever they can do to withdraw their funds from the crypto exchange.

A few tweets from community members observing blockchain transactions underscore that NFTs are being utilized to bypass the bankruptcy process. 

As disclosed by podcaster Cobie, several of the users with stuck balances share a likelihood of purchasing NFTs from FTX’s marketplace put up for sale by users staying in the Bahamas. The ones stuck users pay with their full balances so that the Bahamas-based users can withdraw their funds. 

Blogger and NFT project founder Foobar further shared a different perspective on the process and emphasized that millions of Tether  have been withdrawn so far.

Meanwhile, different users have eyed the action of providing bounties to FTX employees in exchange for expediting their Know Your Customer (KYC) applications or changing their account details to reflect that they reside in the Bahamas.