BREAKING: FTX confirms 'unauthorized transactions' as $1B in crypto reportedly vanishes
said Saturday that it was moving funds into offline storage after reporting "unauthorized transactions." "Following the Chapter 11 bankruptcy filings – FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening – to mitigate damage upon observing unauthorized transactions," FTX U.S. general counsel Ryne Miller tweeted.
Miller had previously written that FTX was "investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges," although noting that facts were unclear "as other movements [were] not clear."That administrator told users not to visit the FTX site "as it might download Trojans.
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, Aug 17, 2022.
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