Crypto exchange FTX’s troubles have continued to increase following its recent filing for bankruptcy. Now, the company is facing another serious issue after it was confirmed that nearly $1 billion worth of tokens were stolen from the platform hours after the filing. This also comes after Sam Bankman-Fried resigned as Chief Executive Officer of the firm.
FTX Confirms The Hack Through Its Telegram Channel
The draining of the funds remained a misery to many people, with some believing that the action was from a regulator or the liquidator responsible for the bankruptcy proceedings. However, FTX, through its Telegram channel, cleared the air about the confusion. The firm announced that the draining was caused by hackers who hit its systems, causing the FTX.com website to go offline.
In a statement issued through FTX’s general counsel Ryne Miller, on Twitter, Ray said the company is working seriously to make sure that all lost assets were recovered.
Both FTX and its U.S. platform FTX.US seem to be affected by an alleged Trojan attack. Users of both exchanges have reported having $0 balances in their accounts. According to reports, FTX customers received emails claiming to come from the company. The message informed the users to log into their FXT accounts, which appear to have enabled the hack.
An inside job?
In situations like this, there are usually different stories, even when FTX has announced that the incident was due to a hack. Some observers believe that the action was only successful and enabled by an insider. The accusations have already gathered momentum on social media.
More users are starting to believe that there is more to the hacking story, considering the series of issues that have occurred over the past few days before the supposed hack. And the fact that the account draining happened a few hours after FTX filed for bankruptcy and Sam-Bankman-Fried resigned makes it even more suspicious. The former Chief Executive Officer has debunked claims he quickly left for Argentina after resigning from the company.
Some observers have also wondered how both FTX and FTX.US were hacked at the same time, considering that they are two separate entities with different security protocols. As of the time of writing, the hack is still ongoing. But users have been advised not to update or visit the app.