Insult upon injury, FTX is now dealing with “unauthorized transactions” that have led to the theft of crypto as FTX moves to place all crypto in cold storage. Ryne Miller, FTX.us GC, appeared to confirm the hack in a series of Tweets.
Following the Chapter 11 bankruptcy filings – FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening – to mitigate damage upon observing unauthorized transactions.
— Ryne Miller (@_Ryne_Miller) November 12, 2022
Elliptic reported there are indications that approximately $473 million in crypto has vanished. The company stated that:
“The stablecoins and other tokens are being rapidly converted to ETH on decentralised exchanges – a common technique used by hackers in order to prevent their haul being seized.”
Another news source claimed that $1 billion in crypto has been taken.