"DOJ Launches Criminal Investigation Into FTX Hack"

The US Department of Justice (DOJ) has initiated an investigation into the November hacking of FTX, formerly operated as a cryptocurrency exchange. Hours after FTX filed for bankruptcy on November 11, significant amounts of cryptocurrency began leaving the company's digital wallets. Later that day, Ryne Miller, general counsel for FTX, published a statement confirming that the company had been hacked. Miller cautioned users not to visit the company's website or download its applications because they may be infected with malware. In response to the event, FTX transferred customer funds to offline wallets. These wallets are inaccessible via the public web, making them harder to compromise. However, the hackers behind the cyberattack stole an estimated $377 million worth of cryptocurrency. Analysis following the incident revealed that the hackers converted the stolen funds into various coins. Most of the funds, approximately $280 million, were converted to Ether. Using a bridge, a software platform that enables the transfer of digital assets across different blockchains, the hackers executed the swap. Officials have frozen a portion of the stolen cryptocurrency, but most of the funds are unaccounted for. It has been theorized that an FTX insider with access to the company's systems may have been responsible for the cyberattack. The hacker compromised several of FTX's offline wallets, which are difficult to hack without access to the company's internal systems. This article continues to discuss the DOJ launching a criminal investigation into the November hacking of FTX.

SiliconANGLE reports "DOJ Launches Criminal Investigation Into FTX Hack"