Sunday 29 January 2023
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Here’s what SBF’s fake electronics outlet ‘North Dimension’ looks like

As the malpractices of the FTX continue to pop up and be uncovered by prosecutors, it turns out the disgraced crypto exchange’s customers were sending money to a fake electronic online shop, which was reportedly opened by Sam “SBF” Bankman-Fried.

In a complaint filed on Dec. 13, the United States Securities and Exchange Commission (SEC) mentioned North Dimension Inc., an Alameda subsidiary that was a vital part of the FTX financial malpractice. According to the complaint, Bankman-Fried directed FTX to have customers send funds to North Dimension bank accounts in an effort to hide the fact that the funds were being sent to an account controlled by Alameda.

Related: SBF met with Biden’s senior advisers 2 months before FTX’s collapse: Report

But the most peculiar fact about the company, which was registered at the same address in California as FTX US, was its fake website. Now only available through the Wayback Machine, the site appears to be an electronics outlet. However, there’s no evidence that one could actually buy anything from North Dimension.

Clicking on any item — for example, a $1,199 MacBook Pro with a 13-inch display — leads to a “Get a Quote” page where one can leave a message and contact information. As the text on the page reads, “We collaborate with ambitious brands and people; we’d love to build something great together.”

The site also claimed to be in collaboration with the “world’s premium brands,” but the logos displayed in the partner section are hardly familiar to anyon who’d like to buy a laptop or a smartphone.

The cherry on the cake is surely the website’s “About Us” section, whose texts look like they may have been written by a not-too-smart artificial intelligence.

After being released on a $250 million bail, SBF has reportedly been cashing out large amounts of cryptocurrency. According to an on-chain investigation by decentralized finance educator BowTiedIguana, SBF has cashed out $684,000 in crypto from an exchange in Seychelles.

Original Article

About Jude Savage

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