Collapsed crypto exchange FTX says $415 million of crypto was hacked
FTX states that hacker stole nearly $415 million from the crypto exchange.
SAN FRANCISCO, US (TechtUSA) - FTX, a collapsed cryptocurrency exchange, disclosed on Tuesday that the exchange's accounts had been hacked, resulting in the theft of $415 million worth of crypto. This figure represents a significant portion of the identified assets that the company is attempting to recover.
FTX says that $323 million of crypto was stolen from the international platform, $90m in the US platform and the remaining 2 million dollars from Alameda Research.
Lawyers and advisors for FTX debtors updated the total liquid assets identified for recovery in a presentation titled "Maximizing FTX Recoveries," estimating their value at approximately $5.5 billion, comprising cash worth $1.7 billion, crypto assets worth $3.5 billion, and securities worth $0.3 billion.
However, the company stated in a statement that this includes "unauthorized third-party transfers" of $323 million out of FTX.com (the international business) and $90 million out of FTX US. It claimed that additional crypto belonging to the hedge fund Alameda Research valued at $2 million was stolen.
A breach of FTX's systems that was discovered shortly after the company's collapse in November may be responsible for the missing cryptocurrency.
According to blockchain analytics firm Elliptic, the stolen cryptocurrency was valued at $477 million at the time.
