Millions of dollars disappeared from crypto exchange FTX, company bid – Transferring assets to a cold wallet.
On the verge of bankruptcy, crypto exchange FTX said on Sunday that “unauthorized transactions” on its platform have resulted in millions of dollars being withdrawn.
The company said that due to this the company has transferred many of its digital assets to the ‘cold wallet custodian’.
FTX is expediting the process of moving all of the exchange’s digital assets to cold storage to minimize losses from unauthorized transactions, said company official Rhine Miller.
Let us tell you, cold storage is called those crypto wallets, which do not have any link to the internet.
Millions of dollars disappeared from crypto exchange FTX: How much FTX suffered from unauthorized transactions?
The company has not disclosed anything about the loss.
At the same time, Singapore-based analytics firm Nansen reported that $266 million (Rs 2,100 crore) was withdrawn from FTX in one day, of which $73 million (about Rs 580 crore) came out from FTX US alone.
The company has applied for an insolvency process.
Last week, the US filed for Chapter 11 of the FTX bankruptcy process.
After this, the company’s founder and CEO Sam Bankman Fried resigned from all positions of the company, and John Ray III was made the new CEO of the company.
Let us tell you, Alameda Research and 130 subsidiaries associated with FTX have also applied for insolvency process.
Ongoing investigation regarding fund transfer in FTX.
In a report on FTX, the leading news agency said that at least one billion dollars are missing from customer funds in the company.
Along with this, the report also said that CEO Sam Bankman Fried has embezzled customers’ funds.
Twitter’s paid verification service ‘Twitter Blue’ may start again next week.
Twitter’s paid verification service ‘Twitter Blue’ may resume next week. This information has been given by Twitter’s new bass Elon Musk in response to a question asked by a user.
Let us tell you, on Friday, due to the paid blue tick, the number of fake accounts on Twitter was increasing in large numbers. Due to this, Twitter took a big decision and banned ‘Twitter Blue’.