FTX Hack Breach Theft Claims Hackers Stole Nearly $415 Million, Recovery In Progress

FTX Hack Breach Theft Claims Hackers Stole Nearly $415 Million, Recovery In Progress

Bankrupt cryptocurrency exchange FTX has claimed that hackers stole nearly $415 million from its platform. FTX CEO John J. Ray III said that about $323 million was hacked from its international exchange and $90 million from its US platform.

“We are making important progress in our efforts to maximise recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information,” he said.

“We ask our stakeholders to understand that this information is still preliminary and subject to change. We will provide additional information as soon as we are able to do so,” he added.

A total of approximately $5.5 billion of liquid assets have been identified, comprising $1.7 billion of cash, $3.5 billion of crypto assets, and $0.3 billion of securities.

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With respect to FTX.com, the company identified approximately $1.6 billion of digital assets associated with FTX.com, $323 million “of which was subject to unauthorised third-party transfers post-petition”.

With respect to the FTX US exchange, the company identified approximately $181 million of digital assets associated with FTX US, “$90 million of which was subject to unauthorised third-party transfers”.

Meanwhile, Sam Bankman-Fried, the former CEO of bankrupt crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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