Bankrupt U.S. cryptocurrency firm FTX announced Wednesday that $415 million in crypto was hacked and stolen from the exchange’s accounts.
US media reported that “$415 million worth of cryptocurrency was stolen from the exchange’s accounts, which represents a significant portion of the specific assets that the company is trying to recover.”
That, and the company confirmed that total liquid assets listed for recovery are valued at $5.5 billion.
FTX reportedly filed for bankruptcy after a wave of seizures crippled the exchange.
A few days ago, lawyers for the collapsed cryptocurrency platform FTX said that the company’s $5 billion in cash and liquid assets had been discovered, and assets and investments with a book value of more than $4.6 billion could be sold.
Lawyers added at the bankruptcy court hearing that these assets do not include $425 million held by the Bahamas.
Lawyers for FTX also told the bankruptcy judge that the amount of missing funds for platform clients is not yet clear, and that they are working to determine the size of the pool of claims and potential refunds for approximately 9 million accounts.
The legal committee of the FTX cryptocurrency exchange in the Bahamas has reached an agreement with the US authorities to end most of their legal disputes regarding the liquidation of the platform’s assets.
According to the agreement, both parties will exchange information about the company’s assets in the two countries, while the Bahamas’ liquidation commission will begin an inventory and sale of the platform’s assets there in order to raise as much money as possible for creditors.
In early November 2022, FTX reportedly filed for bankruptcy and its chairman Sam Bankman-Fried stepped down.
Then in December, the US Securities and Exchange Commission, the stock market regulator, accused Bankman-Fried of defrauding investors.
The agency also claimed that the cryptocurrency exchange received $1.8 billion from investors, and then this money was transferred to a private hedge fund owned by a businessman. Sam Bankman Freed was arrested in December in the Bahamas at the request of Washington.
