Exclusive: At least $1 billion of client funds missing at #FTX

source: https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/

They said the "backdoor" allowed Bankman-Fried to execute commands that could alter the #company's financial records without alerting other people, including external auditors. This set-up meant that the movement of the $10 billion in funds to #Alameda did not trigger internal #compliance or accounting red flags at #FTX, they said.

#money #finance #crypto #backdoor #crime #cybercrime #news #fail #cryptocurrency #insolvency

Exclusive: At least $1 billion of client funds missing at FTX

While it is known that FTX moved customer funds to Sam Bankman-Fried's Alameda trading desk, the missing funds are reported here for the first time. The financial hole was revealed in records that 'SBF' shared with other senior executives a week ago.

#FTX Faces Potential #Hack, Sees Mysterious Outflows Totaling More than $600M

source: https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-mysterious-late-night-outflows-totalling-more-than-380m/

More than $600 million in crypto left #bankrupt #crypto company FTX’s wallets late Friday, with little clear explanation as to why.

Soon afterwards, FTX stated in its official #Telegram channel that it had been hacked, instructing users not to install any new upgrades and to delete all FTX apps.

Is all the crypto stuff not safe at all or is someone just trying to get his big piece of the pie to safety before #insolvency?

#news #cryptocurrency #crime #cybercrime #money #economy #internet #hacker #problem

FTX Faces Potential Hack, Sees Mysterious Outflows Totaling More than $600M

FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.