Posted on 11/12/2022 9:14:33 AM PST by BenLurkin
The collapse of FTX, already one of the most spectacular disasters in financial history, worsened as hundreds of millions of dollars were drained from the cryptocurrency exchange hours after it filed for bankruptcy.
More than $600 million was siphoned from FTX's crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps.
Many FTX wallet holders reported $0 balances in their FTX.com and FTX US wallets. FTX’s API appeared to be down, which could account for this. According to on-chain data, various Ethereum tokens as well as Solana and Binance Smart Chain tokens exited FTX's official wallets and moved to decentralized exchanges like 1inch. Both FTX and FTX US appear to be affected.
The transfers occurred on the same day that the firm filed for Chapter 11 bankruptcy protection in the U.S. after apparently losing – or misappropriating – billions of dollars in user funds. Suspicions – which are conjecture at this point – circulated online about whether, rather than an outside attack, someone inside the company might've been responsible.
(Excerpt) Read more at coindesk.com ...
Hacked?? Right...by Keebler Elves. More like ripped off.
This was the money used to buy the Democrat vicories.
Lots of positive stories about FTX...
Bankman created a back door into the software. That’s what I’ve been reading.
LOL!
https://www.abra.com/blog/crypto-vs-fiat/
You, you don't want the eeevvviill FIAT currency, do you? Nothing behind it but a vague government assurance?
No, you want to buy DIGITAL currency.
Now that's secure!
It seems a bit like a pyramid scheme to me.
Fake currency is a scam and you’ve been ripped off.
Who could have seen this coming? 🙄
Nah, Fluffboy and Mousegirl are making their final withdrawal
As the quote goes: “ If they pay a penie or two pence more for the reddinesse of them..let them looke to that, a foole and his money is soone parted.”
Hey, why doesn’t the Federal Reserve create a crypto currency so they can rip everyone off too?
Looks like that crypto-billionaire that was going to steal the 2024 presidential election might have to re-think his plans!
*SMIRK*
The record on government fiat currencies is crystal clear - they will also bankrupt you, and themselves, through debasement, usually just more slowly.
Call me when it goes to zero overnight.
That’s part of this as well. To REGULATE.
Crypto is Kryptonite to me.
I am sticking to tulip bulbs.
;-)
I still have 40 dollars in two twenties in my wallet. Shew!
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