FTX’s precarious status deteriorated substantially only hours after filing for Chapter 11 bankruptcy protection. The crypto exchange said late Friday night that it had been hacked after millions of dollars in digital assets were taken from FTX wallets, despite the business restricting withdrawals earlier in the day. The precise amount of lost money is unknown, but CoinDesk estimates it to be more than $600 million.
“FTX has been compromised.” “FTX applications are malware,” according to a message on the company’s official Telegram channel. Customers were advised to avoid the FTX website and remove its applications from their phones. Following the disclosure, FTX General Counsel Ryne Miller said that the business was taking all of its digital assets down “to prevent harm following the discovery of fraudulent transactions.”
