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in Tech

FTX Crypto Collapse: At Least $1 Billion Client Fund Said to Be Missing

by Editor November 12, 2022, 11:08 pm 1.7k Views

FTX Said to Be Investigated by US Authorities for Potential Securities Violations

At least $1 billion (nearly Rs. 8,050 crore) of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion (nearly Rs. 80,500 crore) of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, the people told Reuters.

A large portion of that total has since disappeared, they said. One source put…

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Posted by Editor

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