FTX creditor’s report states that the hacker’s attack cost US$415mln
FTX Sam Bankman-Fried’s failed crypto exchange, has stated that approximately $415 million in cryptocurrency was stolen from hacks.
In a letter to its creditors, the company said it had recovered over US$5 billion in cash, crypto and liquid securities, however there are significant gaps in the international as well as US cryptocurrency exchanges.
FTX said it attributed some problems to hacks, and said that US$323 million in cryptocurrency was stolen from its exchanges in other countries and US$90mln was stolen out of its US exchange after it filed to file for bankruptcy on 11 November 2022.
In a story published by the Reuters news agency, Bankman-Fried’s founder Bankman-Fried has questioned aspects of the report of the company in an article on his blog.
Bankman-Fried, who was charged with stealing billions from FTX customers to pay off debts that his hedge fund Alameda Research, has disproved the calculations of FTX.
— Investing.com UK 🇬🇧 (@uk_investing) January 18, 2023
According to Reuters The journalist stated that the lawyers of the company have provided an “extremely false” view of the company’s financials.
He says that FTX has sufficient funds to pay US customers, which believe are in debt between US$181mln to US$497mln Based on his “best estimate.”
FTX hasn’t provided estimates of the sum owed the company’s US as well as international customers. FTX has not responded to queries regarding the blog entry by Bankman-Fried.
The company also provided information about its efforts to recover in which it said it has recovered US$1.7bn of cash US$3.5bn of liquid crypto and US$300mln worth of liquid securities.