FTX is investigating ‘abnormal transactions’ of customer funds after the crypto platform filed for bankruptcy: report – By Jyoti Mann (Insider) / Nov 12, 2022
- Crypto exchange FTX is investigating abnormal transactions of customer funds after a potential hack.
- Analysts said hundreds of millions were withdrawn from FTX, the Financial Times reported.
- The trading platform filed for bankruptcy and CEO Sam Bankman-Fried resigned on Friday.
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Bankrupt crypto exchange platform FTX was examining abnormal transactions after analysts claimed funds worth hundreds of millions of dollars were withdrawn in a potential hack, the Financial Times reported.
More than $260 million worth of crypto assets were withdrawn from the platform, analysts estimate, the newspaper reported.
Ryne Miller, FTX general counsel, said in tweets retweeted by the company’s Twitter account: “Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it.
“Following the Chapter 11 bankruptcy filings, FTX US and FTX.com initiated precautionary steps to move all digital assets to [offline] storage. Process was expedited this [Friday] evening — to mitigate damage upon observing unauthorized transactions.”
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