News Desk
MIAMI: Collapsed cryptocurrency exchange FTX said in a report to creditors on Tuesday that around $415 million of crypto has been stolen by hackers.
The bankrupt firm said that about $323 million was hacked from the company’s international exchange and $90 million from its US exchange since it filed for bankruptcy.
FTX has claimed of recovering over $5 billion in crypto, cash and liquid securities, but said there were still significant shortfalls at both its international and US crypto exchanges.
Bankman-Fried challenges FTX’s report
FTX co-founder Sam Bankman-Fried – who has been accused of stealing billions of dollars from the company’s customers to pay debts at his other firm, Alameda Research – challenged FTX’s calculations late Tuesday, saying that the firm’s lawyers at Sullivan & Cromwell had put forward an “extremely misleading” picture of the company’s finances.
Bankman-Fried, who has pleaded not guilty to fraud charges, said FTX has more than enough money to repay US customers, whom he estimated are owed around $181-$497 million based on his “best guess.” The indicted FTX founder has not had access to the company’s records since stepping down as CEO in November.
A spokesperson for the law firm declined to comment. Attorneys at Sullivan & Cromwell, in a recent court filing, rebuffed Bankman-Fried’s efforts to stay involved in the company’s bankruptcy proceedings.
