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Millions Missing from FTX Exchange
More than $370 million in funds is mysteriously missing from from the FTX exchange. The now bankrupt crypto firm is warning users to stay off its website fearing a hack.
The potential hack occurred Friday after FTX filed for bankruptcy. Ryne Miller, FTX US’s general counsel, said in a Saturday tweet that FTX and FTX US had started moving all digital assets to cold storage —crypto wallets that aren’t connected to the internet — after the filing.
A rival crypto exchange said Saturday it knew the identity of the alleged hacker and would help authorities in their investigation.
Some analysts have suggested the hacker could be FTX founder Sam Bankman-Fried himself, although the comments currently amount to speculation.