A cybercriminal appears to have attempted to steal $400 million of customer funds from the crypto exchange FTX as the platform grapples with a bankruptcy, and widening questions about its business practices.
A hack suggests there will be even less left over to distribute among customers.Cryptocurrency holdings are all viewable on the blockchain to anyone who knows how to look, and FTX's assets are some of the most watched funds in the world right now.
As the irregular activity began, users began noticing immediately. FTX US general counsel Ryne Millerthe attacker lost funds through various trades as they attempted to cover their tracks on chain."Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Over $400 Million Drained From FTX Account Hours After Declaring BankruptcyFTX might have suffered a hack for over $400 million hours after declaring bankruptcy.
Read more »
California Finance Regulator Revokes BlockFi's Lending LicenseNEW: California's finance regulator CaliforniaDFPI has moved to suspend crypto lender BlockFi's lending license in the state. nikhileshde reports
Read more »
FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
Read more »
Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit RampUPDATE: soBTC largely recovered in price after FTX US reopened withdrawals, restoring a critical offramp for the wrapped bitcoin asset.
Read more »
FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resignsFTX said roughly 130 companies in FTX Group — including FTX Trading, FTX US and Alameda Research — had started proceedings to file for bankruptcy in the United States.
Read more »
Over $400M worth of tokens FTX funds drained from company accountsCrypto exchange FTX is seeing millions of dollars flow out of its exchange with early reports of some user account balances being drained completely.
Read more »