Troubled crypto firm FTX said it had lost US$323 million and US$90 million to hacks targeting its international and US exchanges respectively, Reuters reported. Another US$2 million was taken from sister company Alameda Research, bringing the total assets lost to US$415 million.
The company also said that it had successfully recovered US$5 billion in liquid assets following its bankruptcy, comprising US$1.7 billion in cash, US$3.5 billion in liquid crypto, and US$300 million in liquid securities.
After its bankruptcy filing in November 2022 followed by an alleged cyberattack, the Securities Commission of The Bahamas seized US$3.5 billion in FTX assets for safekeeping.
The firm has not yet disclosed exactly how much is owed to its customers. However, FTX co-founder and ex-CEO Sam Bankman-Fried – who stepped down last year following reports of the firm’s insolvency – said that the exchange only owed its US-based customers between US$181 million and US$497 million. He implied that with the funds recovered by FTX, its US arm is solvent.
After being hit with eight criminal charges, including money laundering conspiracies and security fraud, Bankman-Fried pleaded not guilty and is due to appear for a trial in October.
See also: Singaporeans feel ‘betrayed’ by Temasek-backed FTX
Editing by Samreen Ahmad and Lorenzo Kyle Subido
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