The new head of FTX confirmed that the cryptocurrency giant is “doing its best to ensure the safety of all assets” after illegal transactions that could lead to hundreds of thousands of dollars missing.
“NFTX-US and FTX.com continue to work hard to ensure the safety of all assets worldwide,” tweeted the company’s new chairman, John Ray. I define John Ray as “an event of unauthorized access to certain assets.”
Ray took over the board after founder Sam Bankman Fred resigned on Friday, the day the largely unregulated cryptocurrency exchange announced it had voluntarily placed itself under Chapter 11 protection.
The company said on its Twitter account, “(FTX Trading) and 130 companies associated with (FTX Group) have launched a voluntary Chapter 11 bankruptcy procedure to assess their assets.”
This system allows any company to restructure its debts under court supervision while continuing to operate. Company officials did not name the volume of transactions in which unauthorized entry was discovered, but hundreds of thousands of dollars may have disappeared.
“Just 24 hours after filing for bankruptcy, FTX emptied over $663 million worth of wallets,” crypto analytics firm Elliptic explained.
“It looks like $447 million was stolen and FTX itself turned what was left into a safe place to store,” Elliptic explained.
Just 10 days ago, the FTX Group was the second largest cryptocurrency platform in the world, and its president, Sam Bankman Fred (retired), nicknamed “SPF”, was the best conversationalist for regulators around the world.
The group was valued at $32 billion, but US media reported that its president, SPF alone, had a net worth of around $16 billion evaporated within a few days, and the company is now looking to reassure everyone. concerned.