Tag: FTX

Solana developers are forking Serum, the FTX-developed liquidity hub widely used on Solana, after it may have been compromised in the FTX hack. Meantime, some Serum-related Solana apps have begun limiting their exposure, citing security concerns. On Nov. 11, an unknown attacker made unauthorized withdrawals of more than $400 million from FTX. The situation has…

Over $400 million outflow crypto exchange FTX and Alameda wallets on Nov. 11. FTX confirmed that there was “unauthorized access” to crypto it is holding following a reported hack. However, Reuters reported that FTX CEO Sam Bankman-Fried built a “backdoor” to his exchange in an effort to change financial records and move funds. Crypto exchange…

New Jersey-based exchange BlockFi informed customers that it would be “limiting platform activity” and paused withdrawals amid the crypto market turmoil caused by FTX collapsing. In June, BlockFi secured a $400 million loan from FTX and potential acquisition terms, hoping the new credit line could help them remain afloat. “We, like the rest of the…

On Nov. 11, the crypto exchange FTX filed for bankruptcy protection in the US, the Bahamas-based company said. Chapter 11 bankruptcy filing attributed to Alameda Research estimates the company has $10 billion to $50 billion in liabilities. Also, FTX CEO and founder Sam Bankman-Fried resigned from his role. FTX Group, which includes FTX.com and FTX…

US financial regulators are investigating whether embattled crypto exchange FTX properly handled customer funds and its relationship with other parts of the business empire of Sam Bankman-Fried, Bloomberg sources reported. The SEC also scrutinizes Binance’s move to buy FTX. The investigations by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission…

The price of Bitcoin and Ethereum has fallen in the last 24 hours, with the total crypto market cap now sitting at $914 billion, a 10.6% drop in the past 24 hours. The surprise FTX acquisition claim by Binance has sparked a significant overnight drop for Bitcoin and Ethereum. Ethereum’s price now sits at around…