Hunt for FTX hackers began after it filed for bankruptcy – Katoch Tubes

In search of  FTX hackers

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. There's no further  update from the team.

Total Damage

$663 million worth of cryptocurrency has been drained from the exchange  after FTX filed for bankruptcy.

The Actual Heist

Blockchain analysis Elliptic stated that $477 million stoled by the hackers to unknown wallets & remaining by FTX to  its cold storage wallets.

Cannot take the money

Blockchain analysis firms assured that hackers won't be able to take money out of the exchanges even if they use mixers.

A Strange Coincidence

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

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 & also they shouldn't use the app.

Why Binance didn't buy FTX?

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

Learn more

We're on You Tube

Find the best Crypto content only on   Katoch Tubes