FTX says hackers stole $415M after cryptocurrency exchange filed for bankruptcy

Posted on AllSides January 18th, 2023
From The Right
Eva Marie Uzcategui/Bloomberg via Getty Images

Collapsed crypto exchange FTX has confirmed that approximately $415 million of customer funds was stolen by hackers hours after it filed for bankruptcy last November.

FTX met with debtors on Tuesday and provided an update on asset recovery efforts as the company proceeds with Chapter 11 bankruptcy. In addition to approximately $5.5 billion in liquid assets, FTX Debtors identified a "substantial shortfall of digital assets" in both the FTX.com and FTX US exchanges that was allegedly stolen.

A sum of $90 million in the U.S. exchange was "subject to unauthorized third-party transfers" after the...

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