"'Unauthorized Transactions' Lead to Missing Funds at FTX"

The cryptocurrency exchange platform FTX says unsanctioned actors stole customers' digital assets, thus initiating a rush to disconnect digital wallets from the Internet. A message posted on the FTX Telegram page warned users of malware on the platform. According to the security firm PeckShield, the FTX account drainer's wallet address currently holds approximately $340 million in cryptocurrency. Elliptic, a security firm, estimated the stolen assets to be worth $477 million. According to the company, the hacker exchanged more than $220 million for other tokens via decentralized exchanges, obscuring the flow of funds on the blockchain and avoiding seizure. Following its Chapter 11 filing, the FTX platform halted transactions, began transferring funds to a cold wallet, and began a fact review and mitigation exercise. Kraken Chief Security Officer Nicholas Percoco revealed that the identity of the hacker is known amid reports of the hacker using the cryptocurrency exchange Kraken to move funds. This article continues to discuss the draining of hundreds of millions in cryptocurrency from the now-bankrupt cryptocurrency exchange platform FTX.

BankInfoSecurity reports "'Unauthorized Transactions' Lead to Missing Funds at FTX"