FTX claims $415m of crypto was hacked

Sam Bankman-Fried, a collapsed cryptocurrency company, claimed $415m (£338m), was stolen from the exchange. It was estimated that around $323m was stolen from its international platform and $90m from its US one.

This crypto tycoon was accused of taking billions from investors to pay his debts at Alameda Research.

Mr Bankman-Fried pleaded guilty earlier this month to eight charges of wire fraud, security fraud, and conspiracy to launder money.

The company informed a Delaware bankruptcy judge last week that it had recouped more than $5bn worth of assets.

On Tuesday, FTX announced that it had recovered $1.7bn cash, $3.5bn liquid cryptocurrency, and $300m liquid securities.

Additionally, the firm stated that significant shortfalls had been identified at its US and international exchanges.

The company of Mr Bankman-Fried, valued at $32bn a year earlier, filed for bankruptcy protection in November.

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