FTX lost $415 million worth of crypto in hacker heists, the collapsed exchange's new bosses say.
FTX lost $415 million worth of crypto in hacker heists, the collapsed exchange's new bosses sayFTX lost $415 million worth of crypto in hacks, the collapsed exchange's new bosses said Tuesday. The failed exchange has identified around $5.5 billion of liquid assets to be recovered.
In a presentation seen by Insider, FTX lawyers and advisors said they had tracked down around $5.5 billion worth of liquid assets to be recovered, made up of $3.5 billion in crypto, $1.7 billion in cash, and $300 million in tradable assets like stocks and bonds. "We ask our stakeholders to understand that this information is still preliminary and subject to change," he added."We will provide additional information as soon as we are able to do so."Hackers stole $323 million from the Bahamas-based parent company FTX.com, $90 million from FTX, and $2 million from sister trading firm Alameda Research, according to the presentation.
Former chief executive Sam Bankman-Fried was arrested in the Bahamas and extradited to the US the following month to face eight criminal counts including fraud, money laundering, and violating campaign finance laws.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter deliberately suspended Tweetbot and other third-party apps, report says | Business InsiderA senior engineer at Twitter said suspensions of third party app were 'intentional,' The Information reported, citing internal messages.
Read more »
Taliban asks to keep getting UN aid money despite ending education for women | Business InsiderTensions have escalated between the United Nations and the Taliban in Afghanistan after they banned female education.
Read more »
Ancient Roman concrete was incredibly strong — scientists may have just figured out why | Business InsiderHow ancient Roman concrete — used to build famous sites like the Pantheon — has survived over the millennia has baffled scientists for a long time.
Read more »
Elon Musk says Instagram makes people depressed and Twitter makes them 'angry' | Business InsiderMusk asked his Twitter followers which platform was better, tweeting: 'Instagram makes people depressed & Twitter makes people angry. Which is better?'
Read more »
The US is getting Ukraine ready for a more aggressive war with Russia | Business InsiderThe US has begun more advanced training of Ukrainian troops, with a focus on large-scale combat involving tanks, artillery, and combat vehicles.
Read more »
It's time for everyone to take Fridays off | Business InsiderIn the largest-ever experiment of its kind, 33 companies adopted a four-day workweek. The results were conclusive: It's time for everyone to take Fridays off.
Read more »