The husk of the fallen FTX can no longer do much, but it is trying to get its hands around whatever leftover funds can be scrounged up, and put them in a place where they can't be stolen. The picture of a financial institution fraught with unprecedented amounts of chaos was painted by a flurry of information that came in the past day.
Sam Bankman-Fried, FTX's founder and newly resigned CEO, apologized.
Tweet may have been deleted(opens in a new tab)
Rumors that Bankman- Fried had fled to South America were false on Saturday. He says he's still in the Bahamas, where FTX is based.
It is thought that $1 billion worth of customers' cryptocurrencies disappeared from FTX. FTX may have been hacked and robbed of $473 million on Friday night. According to its own tech support channel, what remains of the company is a website that is mostly useless and potentially unsafe.
The equivalent of $10 billion was moved from FTX to an FTX-affiliated trading house founded by Bankman-Fried.
It now appears that the movement of funds played a part in Changpeng Zhao's anti-FTX tweetsstorm, in which he announced to millions that "recent revelations" had led his company to lose all faith in FTX.
Tweet may have been deleted(opens in a new tab)
The $10 billion that had been moved to Alameda is thought to be missing. When this information was made public, both FTX and Alameda Research were under investigation by the SEC.
There was an announcement on the company's tech support Telegram account that it had been hacked. FTX apps are a type of malicious software. They need to be deleted. There is a chat room. Don't go on FTX site if you're interested in having a computer problem.
FTX general counsel Ryne Miller said on his verified account that he was investigating abnormal wallet movements related to the consolidation of FTX balances.
It has been said that the hack is actually an FTX Insider or Insider who will take whatever they can get from FTX's corpse on their way out the door.
John Ray, the new crisis CEO of FTX, issued a statement on Saturday afternoon.
Tweet may have been deleted(opens in a new tab)
According to Ray, the company wants to secure all assets wherever they are located. The work of shutting down trading and fund withdrawals will be done by FTX, but at least they won't suddenly disappear.
Ray said that the cops have been notified. He explained that an internal "fact review and mitigation exercise was initiated immediately in response" to the hack.
FTX is looking for the person who did this.
All Rights Reserved © 2024
