FTX, a defunct cryptocurrency exchange, reports that hackers have stolen almost $415 million (£338 million) worth of cryptocurrency.
Since the company filed for bankruptcy, the CEO of FTX claims that $323 million from its international exchange and $90 million from its US platform had been compromised.
Sam Bankman-Fried, a co-founder of FTX, has been charged with defrauding FTX users of billions of dollars to settle debts at his other company, Alameda Research.
Mr. Bankman-Fried has entered a not-guilty plea to the fraud accusations.The business informed a Delaware bankruptcy judge last week that it had acquired more than $5 billion in assets.
More information was released by FTX on Tuesday, when it claimed to have recovered $1.7 billion in cash, $3.5 billion in purportedly liquid cryptocurrencies, and $300 million in liquid securities.
A financial asset is said to be “liquid” if it can be quickly changed into cash without losing any of its value.
The company added that it had found sizable gaps at both its US and overseas exchanges.
It did not, however, provide a projection of overall liabilities.
- $5 billion in assets are recovered from the collapsed cryptocurrency giant FTX
- FTX’s failure reportedly cost a UK investor £1 million
- The creator of FTX was released on a $250 million bail
FTX, which had a market value of $32 billion a year earlier, filed for bankruptcy on November 11. Client funds totaling $8 billion are alleged to have vanished
