Although it has been over a week since the FTX exchange failed, there are still many aspects of this sad story to be revealed. If the chain of events that led to the bankruptcy were reconstructed in great detail, some of the capital movements captured by the stock exchange would be even more ambiguous. So far, in fact, more than $600 million in cryptocurrency has been stolen.
While the eyes of money and enthusiasts were focused on FTX’s moves after abandoning the purchase of Binance – another massive exchange he thought could step in to save FTX – $663 million in cryptocurrency has disappeared from the capital “withheld by users” of FTX.
FTX’s Telegram channel quickly distanced itself from the theft:FTX has been hacked, and FTX apps are considered malware. Wipe them. A few hours later, a spokesperson added.Unauthorized access to some resources has occurred“, Without giving more details about how and what was actually hacked.
However, analysis of the Ethereum blockchain seemed to indicate that the culprit was within the company
Meanwhile, the first traces of the looting are beginning to emerge: Etherscan, perhaps the most important global blockchain analysis platform on which Ethereum-related movements are recorded, has already found a series of suspicious transactions: On the same day that FTX went bankrupt, it then moved a total of 180,000 Ethereum to 12 different wallets, in batches of 15,000 Ethereum per wallet.. This will be part of the FTX stolen goods, which are converted from FFT to Ethereum and “secured”.
And a disturbing hypothesis comes from Ethereum blockchain analysts: It wasn’t a hacker who orchestrated the millionaire heist, but a guy inside FTX who had access to users’ wallets at will.
A few days after the bankruptcy, the official news agency Reuters, for example, wrote that Sam Bankman Fred, the founder of FTX, had a back door to let him in, at will and without giving any noticein the company’s “fund”..
The European Union intends to distort payments in cryptocurrencies: more than 1,000 euros will be reported to the authorities
The Manhattan Police Department has been investigating FTX for several months
We conclude with the latest news, in chronological order: If the house of cards on which FTX is based was mostly hidden from users, it was well known to American investigators. The authorities in the Manhattan area had already placed the exchange under close surveillance for months.
This was reported by the economic portal Bloomberg, which collected the testimonies of some anonymous sources within the Southern District of New York, the competent authority on this issue. The crime hypothesis the investigators were working on was a violation of the Bank Secrecy Actand the US Anti-Money Laundering and Terrorist Financing Act.