According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.
com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after “direction from U.S. federal law enforcement.”Paxos updated the public on Nov. 12, 2022, and detailed that the company has frozen 11,184.38 pax gold tokens held on the FTX platform. The update was written by Paxos global general counsel, Ben Gray. PAXG is a crypto token backed by one ounce of .999 fine gold at a 1:1 ratio and it’s the largest tokenized gold coin in terms of market cap.
“Earlier today, Paxos received direction from U.S. federal law enforcement to freeze Paxos-issued assets associated with four ethereum addresses,” Gray’s details. “In compliance with the request, Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million. These tokens were previously on the FTX.com platform and had moved to unknown wallet addresses over the prior 24 hours.”
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