Hacking FTX and transferring nearly $600 million from FTX wallets
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Answer Hacking FTX and transferring nearly $600 million from FTX wallets
Cryptocurrency trading platform FTX is seeing millions of funds flow out of FTX wallets.
Nearly $600 million in abnormal transfers were reported to have gone out in a few hours, with some withdrawals switching from Tether to the stablecoin DAI.
According to reports, the clouds also affected:
Solana Coin, StETH, BNB, LINK, AVAX, MATIC and other cryptocurrencies.
The exploiter swaps all crypto assets into DAI and ETH, which cannot be frozen.
The FTX Group official posted on Telegram a message that reads:
FTX has been hacked.
FTX app has become malware.
He also urged users to delete the app and advised against accessing the FTX website as it might download Trojans.
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$600 million worth of outflows from FTX portfolios:
A large amount of funds started moving from FTX and FTX US wallets to one wallet suddenly on November 12th, which was suspected to be the beginning of the bankruptcy process.
Existing data and reports then indicated that FTX wallets were hacked and that the exploiters took inside help to gain access to full control of the platform.
FTX General Counsel Rowen Miller said via email Tweet has the following:
Investigating anomalies in wallet movements related to the consolidation of ftx balances is a blurred fact because other movements are not clear.
We will share more information as soon as we get it.
The data indicates that funds were transferred from FTX and sold through decentralized exchanges.
Currently, UNI, stETH, 1INCH, WBTC, SUSHI, YFI, and LDO are being sold with addresses starting with 0x59ab.
Other altcoins including PAXG, LINK, MATIC, AAVE, SNX, SHIB, and APE are still being held.
Additionally, FTX has $166 million worth of funds transferred to address starting with 0xd801, including SRM, MATIC, CHZ, DYDX, BAND, MANA, ENS, CEL, HT, GRT, GALA, CRV, and other cryptocurrencies. .
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At the same time, several FTX users have reported seeing zero balances in their FTX.com and FTX US wallets.
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FTX files for bankruptcy:
Cryptocurrency exchange FTX has already filed for Chapter 11 bankruptcy.
Sam Bankman Fried has stepped down as CEO and appointed restructuring expert John J. Ray as the new CEO.
FTX CEO John J. Ray announces Alvarez & Marsal and the law firm of Sullivan & Cromwell as advisors to restructure FTX.
The cryptocurrency market remains under pressure as the total market cap has fallen by more than 3% over the past 24 hours.
Read also:
SEC Chairman Responds to FTX Incident: Investors Need Better Protection!
Binance publishes the details of the cryptocurrencies it holds in its wallet
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