crypto

UPDATES: Week 3 of the FTX / Sam Bankman Saga – Hacked or Not + More Collateral Damage + Bankrupcy Docs Give FTX’s TOTAL Debt…

According to bankruptcy court filings, FTX owes over $3 billion to its top 50 creditors. The document lists the largest single loan at $226 million. The rest of the debt owed is between $21 million to $203 million. Last week, a significant amount of tokens were stolen from the official storage wallets for FTX. It’s not surprising that people would suspect an “inside job.” However, former FTX employees are spreading rumors about the thefts. Chainalysis, an analytics firm, is now tracking funds that originated on the FTX exchange. They claim that funds are being traded from Ethereum to Bitcoin. The hacker of FTX once owned 228,523 ETH. This made them one the most popular Ether wallets …. but was there really no hacker? To be fair, the rumors began because no one was willing to confirm it. With millions of crypto being moved and no legitimate entity taking responsibility, it is obvious that this was a hack. The Bahamas government admitted that they were behind the hack, but it wasn’t corrupt officials who stole funds. Officially, the Bahamas regulators state that they have the funds. This was to prevent anyone at FTX taking them. But then we discovered that some funds were sized in the Bahamas by regulators. Some funds were stolen. Chainalysis tweeted: “Reports that funds stolen from FTX were actually transferred to the Securities Commission of The Bahamas is incorrect. Some funds were taken, but other funds were sent by the regulators. “This was confirmed once more by FTX tweeting to alert other exchanges to watch out for funds hitting their platforms and hopefully freeze the account before hackers can make any trades. Collateral Damage…In related news Solana is “facing problems” following the collapse of FTX. This was due to their strong ties to FTX and Alameda Research, a sister company to FTX. Users have taken about the same amount from the staked supply. Tether responded by announcing that it would take $1 billion USDT from the Solana Blockchain and move it to the Ethereum Blockchain. This is because they don’t see the supply on the Solana network being needed in the near future. Some Solana supporters are posting that they’re buying SOL tokens at a discount. Others claim there’s still a big problem, with FTX rumored holding 50 million tokens – which they may have to put on to the market. Sam Bankman-Fried…Last Wednesday, he was directly messaging journalists, claiming he plans to raise billions of dollars to make FTX customers whole’ again. The newly appointed CEO of FTX (installed to oversee bankruptcy), had to clarify that Sam does not have any role in the company and is not authorized to raise funds or speak for FTX. He even called Sam ‘delusional. He realized that he was doing more harm than good. Today is day 5. ———————–Author: Mark PippenLondon News Desk Breaking Crypto News