Troubled cryptocurrency exchange FTX claims $415 million worth of digital currency was stolen by hackers.
The bankrupt company and its “related debtors” released the news to customers and stakeholders earlier this week.
They said $5.5 billion in liquid assets had been identified, including $1.7 billion in cash, $3.5 billion in crypto assets and $300 million in securities.
However, $323 million in funds from FTX.com were “subject to unauthorized third-party transfers,” and another $90 million was obtained in the same manner from the FTX US exchange, the statement said. I’m here.
The activity occurred after the November 11, 2022 “petition date” (the date the company filed for Chapter 11 bankruptcy).
Another $2 million has been reportedly taken from FTX’s sister company, Alameda Research, a cryptocurrency trader/hedge fund co-founded by FTX’s Sam Bankman-Fried.
It’s unclear if the $415 million loss was due to the same incident where $477 million was stolen from FTX. The robbery was discovered shortly after the company collapsed.
Bankman-Fried also faces criminal charges uncovered in December.
The documents, which were unsealed on December 13, contained a wire fraud conspiracy, a wire fraud conspiracy, a merchandise fraud conspiracy, a securities fraud conspiracy, a money laundering conspiracy, defrauding the Federal Election Commission, and campaign finance. It contains a conspiracy to commit a violation.
Together, these carry a maximum sentence of 100 years or more in prison.
ImmuniWeb founder Ilia Kolochenko has argued that outside intrusion is possible, but it is wise to remain skeptical about the cause of the $415 million heist.
“Given the infamous situation, there are actually at least three possible interrelated hypotheses: a bona fide data breach by an unknown cyber threat actor; a sophisticated embezzlement of funds disguised as an external data breach; and, An external data breach facilitated by malicious insiders not necessarily related to FTX management,” he claimed.
“Therefore, a thorough investigation by a competent and independent cybersecurity firm is required before any conclusions can be drawn.”
