Collapsed cryptocurrency trading firm FTX has confirmed there was “unauthorised access” to its accounts hours after the US company filed for bankruptcy protection on Friday. FTX is also coordinating with law enforcement and regulators, the company said. Exactly how much money is involved is unclear but analytics firm Elliptic estimated on Saturday that 477 million dollars (£403m) was missing from the exchange. Another 186 million dollars (£157m) was moved out of FTX’s accounts but that may have been FTX moving assets to storage, said Elliptic’s co-founder and chief scientist Tom Robinson. “It looked very different from what a liquidator might do if they were trying to secure the funds,” she said.

Source: The Herald November 12, 2022 22:11 UTC