Browsing:FTX

FTX Hacker moved stolen crypto
1 year ago 1 min read

FTX hacker distributes nearly $200 million in ETH across 12 wallets

The hacker responsible for the theft of more than $447 million in cryptocurrency from the crypto exchange FTX has been spotted moving their looted funds once more. According to Etherscan data, between 4:11 and 4:17 p.m. UTC on November 21, the attacker transferred 180,000 ETH across 12 newly created wallets, each receiving 15,000 ETH. At current prices, the total amount moved was $199.3 million. The ETH had not moved from any of the 12 wallets at the time of publication. Some in the cryptocurrency community believe the attacker intends to subdivide it into smaller and smaller amounts to confuse investigators,

FTX hacker
1 year ago 1 min read

FTX hacker is reportedly moving funds in order to avoid authorities

According to Etherscan data, the alleged hacker responsible for the theft of hundreds of millions of dollars from the bankrupt cryptocurrency exchange FTX is moving the funds around to different wallets to avoid detection. FTX Accounts Drainer sent $16 million in 15,000 ETH to 12 new on-chain addresses on Monday night. More so, some crypto analysts noted that the attacker is attempting to divide the loot into smaller amounts in order to elude investigators through a process known as “peel chaining.” According to Chainalysis, the hacker may also intend to send his funds to a crypto mixer. Crypto mixers are

FTX crypto exchange Japan
1 year ago 1 min read

FTX Japan officials reportedly claim to resume withdrawals soon

FTX Japan, the Japanese branch of cryptocurrency exchange FTX Trading, is working to resume withdrawals by the end of the year. While FTX Japan has temporarily halted withdrawals, an official there stated on Monday that work on a new withdrawal procedure is already underway. Furthermore, FTX Accounts Drainer continues to drain crypto assets from users’ accounts, withdrawing nearly $600 million. According to Japan Broadcasting Corp., FTX Japan officials stated in an interview on November 21st that the company is working on a way to begin withdrawals before the end of the year. Withdrawals have been temporarily halted because FTX Japan

FTX crypto exchange hacked
1 year ago 1 min read

FTX requests assistance from other exchanges regarding stolen funds

FTX requested assistance from other cryptocurrency exchanges, explaining that stolen funds were being transferred from the compromised exchange to third-party wallets. The bankrupt company, now led by John J. Ray III, CEO of FTX, has asked its competitors to “take all measures” to recover the funds and return them to the bankruptcy estate. They didn’t call it theft outright. FTX did state that the funds were transferred “without authorization” from FTX Global. Furthermore, neither the exchanges nor the wallet addresses associated with the transfers were disclosed by the corporation. The aforementioned funds were stolen from FTX a day after the

Liquid exchange
1 year ago 1 min read

FTX-owned Liquid exchange has halted all trading following FTX’s bankruptcy filing

The shutdown of Liquid comes just five days after the exchange suspended all withdrawals due to FTX’s bankruptcy filing. Liquid has suspended all trading operations on its platform in accordance with FTX Trading’s instructions, the company announced on Twitter on November 20. According to the statement, Liquid Exchange halted “all forms of trading” due to the operation of the Chapter 11 process in Delaware courts. The exchange suspended all withdrawals on its platform five days ago, citing compliance with the requirements of voluntary Chapter 11 proceedings. Japan’s Financial Services Agency had previously requested that another FTX subsidiary, FTX Japan, suspend

President Biden on crypto regulation
1 year ago 1 min read

President Biden calls for stricter regulations

Following the FTX disaster, global officials were reportedly negotiating global cryptocurrency laws. In terms of price and investor confidence, the waves of the FTX’s decline influenced the overall cryptocurrency market. President Biden has spoken out on his thoughts on the crypto market in order to avoid another FTX-style disaster and to protect investors and other businesses. Following the Bali meeting, Joe Biden and other G-20 leaders issued the following statement: “It is critical to build public awareness of risks, to strengthen regulatory outcomes and to support a level playing field while harnessing the benefits of innovation.” The Financial Stability Board

FTX hacker
1 year ago 1 min read

FTX hacker dumps 50,000 ETH

After the hack, the FTX wallet drainer was the 27th largest ETH holder, but he dropped 10 positions after the weekend ETH dump. Just hours after the crypto exchange filed for Chapter 11 bankruptcy on November 11, the FTX hacker drained nearly $447 million from multiple FTX global and FTX.US exchange wallets. In addition, the exploiter was the 27th largest ETH whale, with the majority of the stolen funds in ETH. The FTX wallet drainer 1 transferred 50,000 ETH to a new address, 0x866E, on November 20. The new wallet address then exchanged the ETH for renBTC (ERC-20 version of

The collapse of FTX, according to Ethereum co-founder Vitalik Buterin, has demonstrated once again that the problem is people, not tech.
1 year ago 1 min read

Vitalik Buterin offers crypto lessons following FTX collapse

The collapse of FTX, according to Ethereum co-founder Vitalik Buterin, has demonstrated once again that the problem is people, not technology. In the aftermath of the FTX collapse, Ethereum co-founder Vitalik Buterin has spoken out, offering his thoughts and some positives from one of cryptocurrency’s biggest black swan events. Buterin stated in a Bloomberg interview on November 20 that the collapse of FTX has lessons for the entire crypto ecosystem. He acknowledged that the underlying stability of distributed ledger technology and the technology that powers the crypto asset economy is not in doubt. Buterin called the FTX collapse a “huge

The unforeseen collapse of FTX has sent shockwaves through the crypto community
1 year ago 1 min read

FTX collapse triggers asset self-custody

The unforeseen collapse of FTX has sent shockwaves through the crypto community, with varied responses ranging from offloading assets to moving assets from exchanges to a self-custody wallet. Bitcoin fell sharply after news that FTX had come under acute stress, with a decline going as far as $15,675. This collapse was the most shocking collapse of a custodian in recent times. The resultant panic resulted in investors preparing for the worst, a further market decline The rifest response has been to mitigate future losses by withdrawing BTC and ETH from crypto exchanges into self-custody wallets as firms have failed to

FTX exchange of SBF
1 year ago 1 min read

Singapore police issues warning amidst FTX related phishing scams

The embattled firm FTX has an estimated $8 billion deficit on its balance sheet, and investors have become desperate to save their investments. Such desperation has led them to seek alternative solutions that are leaving them vulnerable to phishing scams. The Singapore Police Force has issued a public statement warning about a website claiming to be hosted by the U.S. Department of Justice, prompting FTX users to log in with their account credentials. The website which was not named or identified promised investors their funds after a necessary fee was paid. This is a deliberate hoax to take advantage of

The US House Financial Services
1 year ago 1 min read

The US House Financial Services Committee will hold an official hearing on the FTX collapse, according to a report

The United States House Financial Services Committee is reportedly planning an official hearing on the recent collapse of the cryptocurrency exchange platform FTX. According to a new Wall Street Journal report, the committee’s leaders, Democratic Representative Maxine Waters of California and Republican Representative Patrick McHenry of North Carolina, plan to hold a hearing in December to investigate FTX’s demise. Members of the committee expect to hear testimony from FTX competitor Binance, FTX founder and former CEO Sam Bankman-Fried, and Alameda Research, FTX’s trading branch, about what happened to the crypto exchange. According to the Wall Street Journal, committee chairperson Waters

Genesis Trading
1 year ago 1 min read

Genesis sought $1 billion in emergency loan: report

Genesis sought a $1 billion emergency loan from investors before informing clients that redemptions would be halted due to the failure of FTX, according to The Wall Street Journal. According to the Journal, Genesis requested access to the credit facility by 10 a.m. Monday, citing a liquidity crisis. According to a confidential fundraising document obtained by the newspaper, the firm did not receive that funding. As per the paper, “There is ongoing run on deposits driven mainly by retail programs and partners of Genesis (i.e., Gemini Earn) and institutional clients testing liquidity.” Genesis reportedly wanted a bailout before it stopped

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