FTX US general counsel Ryne Miller tweeted that the exchange moved its funds to cold storage following the spate of “unauthorized transactions.”

Following the fact that hackers exploited some of the funds on the exchange, Miller said that the exchange’s cold wallets were holding digital assets to minimize damage to users.

This happened a few hours after $600 million in cryptocurrency mysteriously disappeared from the wallets of the exchange. Many people have suspicions that the overflow is “trying” to take money from users.

In addition, GitHub information shows that the CTO Gary Wang of the exchange has continued to update the code in recent days, and the frequency has been high in the past two days. On November 11, Wang made 5 code commits. On November 10, he made 19 code commits.

Numerous owners of FTX wallets also reported seeing $0 balances in their wallets on FTX.com and FTX US.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Cold Wallets

FTX

ftx us

Gary Wang

hack

us

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Related Posts

• Coinbase Listing Roadmap Adds Floki Sends Token Soaring Over 25%
• Bitcoin Futures Market Witnesses Euphoria With Trump’s Victory
• Trump’s Removal of SEC Chair Gary Gensler Will Give Crypto Industry Hope
• Crypto Industry Campaign Wins Overwhelming Victory With $135M Spent
• Singapore Gulf Bank Offers First Crypto Corporate Banking in Bahrain
• Ethereum Consensus Layer Overhaul Proposal Unveiled Tomorrow
• Bitcoin Spot ETFs Hit $1.1B Inflows, BlackRock IBIT Sets Record Turnover
• Bitfinex Alpha Predicts Storm Brewing in Crypto Market

News

FTX Is Moving The Remaining Funds To Cold Wallets

FTX US general counsel Ryne Miller tweeted that the exchange moved its funds to cold storage following the spate of “unauthorized transactions.”

Following the fact that hackers exploited some of the funds on the exchange, Miller said that the exchange’s cold wallets were holding digital assets to minimize damage to users.

https://twitter.com/_Ryne_Miller/status/1591326796305530880

This happened a few hours after $600 million in cryptocurrency mysteriously disappeared from the wallets of the exchange. Many people have suspicions that the overflow is “trying” to take money from users.

In addition, GitHub information shows that the CTO Gary Wang of the exchange has continued to update the code in recent days, and the frequency has been high in the past two days. On November 11, Wang made 5 code commits. On November 10, he made 19 code commits.

Unauthorized transactions by Gary Wang?

FTX’s co-founder and CTO

He was quite busy pushing code to his private repos yesterday https://t.co/i6F38YcUf3

— safu (@safuXBT) November 12, 2022

Numerous owners of FTX wallets also reported seeing $0 balances in their wallets on FTX.com and FTX US.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Other Posts

Related Posts

[tptn_list limit="8" title_length="0" heading="0" show_date="0" daily="1"]