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FTX Says $415 Million Crypto Has Been Hacked Since Bankruptcy

Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrencies were stolen as a result of the hack.

About $323 million in cryptocurrencies have been hacked from FTX’s international exchanges and $90 million from U.S. exchanges since it filed for bankruptcy on November 11, CEO John Ray said. said in a separate statement on Tuesday.

FTX founder Sam Bankman-Fried has been accused of Steal billions of dollars from FTX customers To pay off debt owed by his crypto-focused hedge fund, Alameda Research. Bankman-Fried pleads not guilty for fraud.

FTX last week before a Delaware bankruptcy judge Collected over $5 billion In crypto, cash and liquid securities, nine weeks after declaring bankruptcy.

The company provided additional details on Tuesday, saying it had recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrencies and $300 million in liquid securities.

FTX did not provide an estimate of total debt, but said it had identified significant shortfalls on both international and U.S. crypto exchanges.


Catch up on The Post’s latest on Sam Bankman and Freed’s FTX scandal


“As we work to maximize recovery, the team undertook very difficult investigative work to uncover this preliminary information,” Ray said in a statement.

Crypto assets recovered to date include $685 million in Solana, $529 million in FTX’s proprietary FTT token, and $268 million in Bitcoin, based on crypto prices on November 11, 2022. million dollars included. 2022 value.

A November seizure of assets by the Bahamas Securities Commission came to light during FTX’s initial investigation into the hacking of its system, sparking a dispute between FTX’s U.S.-based bankruptcy team and Bahamian regulators. bottom.

The two sides settled their disagreements in January, and Ray said on Tuesday that the Bahamian government held $426 million for creditors.

Bahamian Prime Minister Philip Davis addressed the controversy at an event Tuesday at the Atlantic Council in Washington, saying Wray’s team “came in” and said seizures of Bahamian assets were “appropriate and probably for many investors. “Saved the day,” he said, admitting to FTX.

https://nypost.com/2023/01/17/ftx-says-415m-in-crypto-was-hacked-since-bankruptcy/ FTX Says $415 Million Crypto Has Been Hacked Since Bankruptcy

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