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Tuesday, December 6, 2022

Crypto Exchange FTX: A Billion Dollars Stolen?

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I have been working in news websites for the past three years. I am currently an author at 24 hours world, where I mainly cover world news. I have also written for The Huffington Post and The New York Observer.
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Damage from unauthorized transactions is feared. The platform is pushing ahead with securing all digital assets to limit damage after observing unauthorized transactions, Ryne Miller, FTX’s US chief legal officer, announced over the weekend.

FTX went bust on Friday as clients withdrew funds en masse. At the center of the criticism is company founder Sam Bankman-Fried, who has since retired as boss.

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According to insiders, at least one billion dollars in customer funds are said to have disappeared from FTX. Accordingly, Bankman-Fried secretly transferred ten billion dollars in customer funds to his trading company Alameda Research. The ex-boss replies that there were misunderstandings when booking.

Source: Nachrichten

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