The extent of losses faced by investors remains unknown so far.
had been modified to sell off all Alameda Research assets in case the former filed for bankruptcy. Later it also became known that under the instructions of SBF, executives at FTX were actively hiding liabilities under fake accounts. As much as $8 billion in Alameda's liabilities were hidden in an account referred to by SBF as "our Korean friend's account."
SBF, who has pleaded not guilty to the charges of fraud at FTX, was released on a $250 million bail and is not allowed to leave his parent's home in California. He has maintained that he didn't do this knowingly, even as prosecutors haven't yet been able to estimate the extent of the losses that FTX customers are facing.
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