• Home
  • About
  • Privacy
  • Contact
  • DCMA
  • Terms
  • Submit / Write For Us
Friday, June 2, 2023
Android Buzz
  • News
  • Phones
  • Apps
  • Games
  • Reviews
  • Tech
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Devices
    • Streaming
    • Security
  • DEV
  • How To
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Photography
  • Accessories
  • Business
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Marketing
No Result
View All Result
Android Buzz
  • News
  • Phones
  • Apps
  • Games
  • Reviews
  • Tech
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Devices
    • Streaming
    • Security
  • DEV
  • How To
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Photography
  • Accessories
  • Business
    Bollywood's Top Iconic Indian Destinations

    Bollywood’s Top Iconic Indian Destinations

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Qualcomm announces Snapdragon AR2, S5 and S3 Gen 2 platforms

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    Apple to launch ‘MLS Season Pass’ subscription on February 1 • TechCrunch

    5 Ways to Boost Data Security on the Cloud

    5 Ways to Boost Data Security on the Cloud

    Qualcomm announces Snapdragon 8 Gen 2

    Qualcomm announces Snapdragon 8 Gen 2

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    As product-led growth expands, Loops digs into the data to track key metrics • TechCrunch

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Data breaches are happening in every organization, no matter the size, says VP encryption, Thales

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies

    Koo launches a bunch of new features to attract more Indian users as Twitter drama intensifies- Technology News, Firstpost

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

    • Marketing
Android Buzz
No Result
View All Result
Home Business

FTX Says It May Have Been ‘Hacked,’ as $600 Million in Crypto is Mysteriously Drained Overnight

by Staff Writer
in Business
FTX Says It May Have Been 'Hacked,' as $600 Million in Crypto is Mysteriously Drained Overnight
61
SHARES
558
VIEWS
Share on FacebookShare on Twitter

Photo: OLIVIER DOULIERY / AFP (Getty Images)

Hundreds of millions of dollars in assets were mysteriously siphoned out of the collapsing crypto exchange FTX on Friday, in what exchange officials have referred to as a potential “hacking” incident.

Already a company in a spectacular state of financial and reputational free fall, the once well-respected and heavily promoted cryptocurrency exchange said Friday that it was looking into a barrage of “abnormal” asset transfers sweeping through accounts. Subsequent analysis seemed to suggest that as much as half a billion dollars may have been stolen.

The chaos started late Friday when FTX account holders began taking to Twitter to allege that their funds had disappeared. At 11:52 p.m., an admin for the exchange’s Telegram page posted the following statement:

Ftx has been hacked. All funds seem to be gone.

FTX apps are malware. Delete them…

Don’t go on ftx site as it might download Trojans.

Not long afterward, Ryne Miller, the company’s general counsel, tweeted: “Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it.”

Shortly afterward, Miller claimed that the company was routing remaining funds into cold storage—the offline accounts that keep assets secure from hacking—in an attempt to stop any more funds from being transferred.

Elliptic, a company that tracks cryptocurrency movements across the internet, said that it had recorded more than $701 million in various tokens leaving the crypto exchange’s coffers on Friday night. In its analysis, Elliptic assessed that some $515 million in assets may have been stolen, while another $186 million potentially represented the assets that FTX had transferred into cold storage. The transferred funds involved a variety of tokens, including Solana, Ethereum, Tron, Avalanche, and Binance Smart Chain. The money was squirreled into three separate wallet addresses, after which the transferrer routed at least $220 million through decentralized exchanges, which Elliptic judges as a “common tactic used by thieves seeking to avoid seizure of the stolen assets.”

The timing of this whole episode—less than 24 hours after the company filed for chapter 11 bankruptcy—immediately aroused the suspicions of people online—with many suggesting that this wasn’t a real “hacking” episode but some sort of attempt by FTX insiders to rip off clients and steal half a billion dollars. Some theorized that a small group of FTX CEO Sam Bankman-Fried’s “insiders” were behind the apparent theft.

G/O Media may get a commission

FTX, which was once considered one of the most promising enterprises in the crypto industry and boasted endorsements from a host of celebrities such as Tom Brady and Steph Curry, has imploded in a spasm of malfeasance that some have equated to the crypto equivalent of Enron. The firm’s CEO, Bankman-Fried, stepped down from his leadership position on Friday, amidst revelations that the company had been using customer’s money to fund its own risky trading activities and the company was insolvent.

A gargantuan amount of customers’ money also appears to have gone missing prior to the recent “hacking” episode. Reuters reported Saturday that, of some $10 billion in customer funds that Bankman-Fried previously transferred from FTX to his own company, Alameda Research, at least a billion dollars is said to have vanished into thin air. It’s unclear where it went or what the grand total of missing funds is, Reuters says, though some estimates of the vanished assets put the total value at somewhere between one and two billion dollars. One source told the outlet they thought the number was $1.7 billion. Reuters reports:

The financial hole was revealed in records that Bankman-Fried shared with other senior executives last Sunday, according to the two sources. The records provided an up-to-date account of the situation at the time, they said. Both sources held senior FTX positions until this week and said they were briefed on the company’s finances by top staff.

Gizmodo reached out to FTX for comment on both of these developments and will update this blog if we get a response.



Source by gizmodo.com

Share24Tweet15SendPin5
Previous Post

How to Add Document Properties to a Header or Footer in Microsoft Word

Next Post

What you need to know about Elon Musk’s inner circle at Twitter 

Related Posts

Uncover 5 Never-Thought-Of Business Ideas
Business

Uncover 5 Never-Thought-Of Business Ideas

March 31, 2023
Telegram CP: The Ultimate Communication Tool For Modern Business
Business

Telegram CP: The Ultimate Communication Tool For Modern Business

February 26, 2023
How Can Data Mining & AI Transform Business
Business

How Can Data Mining & AI Transform Business?

December 6, 2022
Ideas For Small Business Digital Marketing
Business

Ideas For Small Business Digital Marketing

December 5, 2022
Ripple, Bitcoin, and Ethereum coins with Hong Kong and Singapore flags
Business

Hong Kong and Singapore can make Asia into crypto central

November 17, 2022
Elon Musk fires Twitter employees overnight for criticising his plans on internal channels
Business

Elon Musk fires Twitter employees overnight for criticising his plans on internal channels- Technology News, Firstpost

November 17, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

How Elon Musk is changing Twitter, from mass layoffs to paid check marks

How Elon Musk is changing Twitter, from mass layoffs to paid check marks

November 5, 2022
How to Make Only One Page Landscape in a Word Document

How to Make Only One Page Landscape in a Word Document

October 25, 2022
Google Pixel Watch Review: It's Beautiful, Not Perfect

Google Pixel Watch Review: It’s Beautiful, Not Perfect

October 14, 2022
Can Netflix reclaim the ‘Netflix for games’ crown from Xbox Game Pass?

Can Netflix reclaim the ‘Netflix for games’ crown from Xbox Game Pass?

October 20, 2022
Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

Apple Sued for Allegedly Collecting User Data, Violating Its Own Privacy Policies

November 14, 2022
Thomson Q55H1001 QLED TV Review Lead image

An affordable smart TV with good picture quality- Technology News, Firstpost

October 17, 2022
  • Home
  • About
  • Privacy
  • Contact
  • DCMA
  • Terms
  • Submit / Write For Us
© 2021 androidbuzz.net
No Result
View All Result
  • News
  • Phones
  • Apps
  • Games
  • Reviews
  • Tech
    • Devices
    • Streaming
    • Security
  • DEV
  • How To
    • Photography
  • Accessories
  • Business
    • Marketing