FTX hacked after it filed for bankruptcy. Is it intentional? – Katoch Tubes

FTX Exchange hacked. Is it intentional?

About FTX

FTX is one of the leading cryptocurrency exchanges in the world. Infact, by volume FTX was the second largest exchange after Binance sometime back.

Founder of FTX

Sam Bankman-Fried is the founder of FTX. He's also the founder of Alameda Research, the investment arm of FTX.

The Bankruptcy

Acc. to a statement released by Sam, FTX requires over $8 billion to overcome bankruptcy. It has filed for bankruptcy.

SEC investigation

SEC has taken steps to investigate FTX for potential security violations, criminal activities or any sort of offense committed.

FTX Exchange hacked

Admin of FTX Telegram group revealed that FTX was hacked today. There's no further  update from the team.

A Strange Coincidence

This is quite a beleaguered situation. Sudden news of FTX hack sounds pretty much speculative. Though the sources confirmed it.

Is FTX defrauding its users?

Likely Yes. It is revealed that FTX exchange has transferred user funds to Alameda Research to boost its investment portfolio

What's next?

FTX is likely to dissolve and with it crypto markets will face an intense sell-off. User's funds aren't safe anymore after the hack which is done intentionally

Why Binance didn't buy FTX?

Swipe up to learn why the deal failed to take-off.

Learn more

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