Crypto exchange FTX, which has declared bankruptcy, informed creditors in a report that hacks had resulted in the theft of around $415 million in cryptocurrency. Despite recovering more than $5 billion in cryptocurrency, cash, and liquid securities, it warned on Tuesday that both its international and US crypto exchanges still have severe shortages.
FTX attributed the shortfall on cyberattacks, claiming that since it filed for bankruptcy on November 11, $323 million in cryptocurrency had been stolen from its international exchange and $90 million from its US exchange.
However, the company’s assessment was contested in a blog post by the indicted founder Sam Bankman-Fried.
He wrote that the company’s lawyers at Sullivan & Cromwell had presented an ‘extremely misleading’ picture of the company’s finances and that the company has more than enough money to repay US customers.
According to him, the customers are owed between $181 million and $497 million. Bankman-Fried doesn’t have access to FTX records since stepping down as CEO in November.
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