{"id":11839,"date":"2022-11-12T23:19:00","date_gmt":"2022-11-12T20:19:00","guid":{"rendered":"https:\/\/alfacash.blog\/?p=11839"},"modified":"2024-02-19T21:50:11","modified_gmt":"2024-02-19T18:50:11","slug":"ftx-saga-bankruptcy-millionaire-hack-conspiracy-theories","status":"publish","type":"post","link":"https:\/\/alfacash.blog\/cs\/2022\/11\/12\/ftx-saga-bankruptcy-millionaire-hack-conspiracy-theories\/","title":{"rendered":"FTX saga continues: bankruptcy, a millionaire hack, and conspiracy theories"},"content":{"rendered":"

The exchange FTX, as we reported before, is in serious trouble now. What last month was one of the top crypto exchanges worldwide, is now officially filing for bankruptcy in the US. <\/strong>That includes almost all the companies under the wing of FTX Group, including FTX Trading and Alameda Research. Sam Bankman-Fried (SBF), its founder and CEO, just stepped away from the last position, handing it now to John Ray.<\/p>\n\n\n\n

In the previous days<\/a>, it was known by the public that FTX faced a huge liquidity crunch. US authorities are investigating the case<\/a>, suspecting misuse of the customers\u2019 funds. The crypto exchange Binance first offered to acquire the brand to provide liquidity to its users, but, after due diligence, they revoked the accord.<\/p>\n\n\n\n

\"China-ban-bitcoin-mining\"<\/figure><\/div>\n\n\n\n

Podle Reuters<\/a>, SBF also asked a billionaire rescue to big players like Justin Sun (TRON<\/a> founder), the crypto exchange OKX, Tether Limited<\/a>, and the hedge fund Third Point. It was to no avail, though, and, without more alternatives, FTX filed for bankruptcy<\/a>. The assets of the company were seized<\/a> by the Bahamian government (where its HQ is registered) and withdrawals are only allowed in that country to comply with local laws.<\/strong><\/p>\n\n\n\n

As a result, numerous other desperate FTX customers are recurring<\/a> to Bahamian citizens to try to withdraw their money. To make this possible, they\u2019re buying Non-Fungible Tokens (NFT<\/a>) from Bahamians at astronomical prices, likely to pay them some percentage in exchange for their blocked funds.<\/p>\n\n\n\n

At the same time, the FTX team announced via Telegram that they suffered a $600 million hack after filing for bankruptcy.<\/strong> Their website and app are compromised, so, they insisted<\/a> to their customers avoid them, considering them malware<\/a> now. The FTX General Counsel Ryne Miller confirmed this on Twitter.<\/p>\n\n\n\n

\n

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.<\/p>— Ryne Miller (@_Ryne_Miller) November 12, 2022<\/a><\/blockquote>