380 Million USD On FTX Transfer To One Wallet Has Not Been Determined

After the event of millions of USD on FTX has been transferred to a single wallet, the exchange platform’s General Counsel – Mr. Ryne Miller has made his statement.

The crypto community noticed a large amount of tokens being converted into stablecoins by FTX and FTX US and transferred to a single wallet around 09:50 AM.

This wallet has currently received up to 218 million USD in stable coins and tokens, as well as 68 million USD in ETH.

It is unclear whether this is a liquidation of the exchange’s assets to facilitate the bankruptcy process or for some other reason.

FTX US general counsel Ryne Miller has updated the latest tweet regarding this event. He stated that the company is looking into “abnormalities with wallet movements related to the consolidation of the exchange balances across exchanges – unclear facts as other movements are not clear.” 

There is a theory that there is a white hat hacker involved in the incident when the Ethereum 3 wallet is a multisig wallet, withdrawing a lot of money from the Ethereum 2 wallet.

The suspicion of a hacked FTX exchange is increasing day by day. Additionally, security personnel Officer’s Notes remind that this could be an insider or hacker attack and users need to uninstall the FTX APP as soon as possible.

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