BAD TO WORSE

Hackers Stole $415 Million in Crypto From FTX, Company Says

The “unauthorized third-party transfers” are part of around $5.5 billion in liquid assets the company is now trying to recover.

Sam Bankman-Fried’s gutted crypto exchange FTX revealed Tuesday that $415 million in crypto was hacked from its accounts. The timing of the hack was not unclear, but FTX previously revealed in November, shortly after the company’s collapse, that hackers had stolen about $477 million worth of crypto. In a presentation released Tuesday, lawyers and advisers for FTX debtors updated the total amount of assets it had identified as potentially being recoverable to $5.5 billion. But that included a total of $415 million in “unauthorized third-party transfers” made up of $323 million from FTX.com, $90 million from FTX, and $2 million from hedge fund Alameda Research’s crypto. FTX has filed for bankruptcy after it crashed in the wake of allegations that it misappropriated customers’ money.