• FTX identified a $415 million crypto hack as part of the $5.5 billion worth of digital assets for recovery.
• The exchange has recovered $1.7 billion in cash and $3.5 billion in liquid crypto, in addition to $300 million in liquid securities.
• FTX is also looking to claw back $2.1 billion Binance repurchase payment in addition to the $415 million ‚hack‘ sum.
FTX, the embattled crypto exchange, has identified a massive $415 million crypto hack as part of the $5.5 billion worth of digital assets for recovery. This announcement was made by the exchange’s new CEO, John Ray III, who noted that it took extensive investigative efforts from the team to achieve this revelation.
The exchange has recovered $1.7 billion in cash and $3.5 billion in liquid crypto. In addition, the former second-largest crypto exchange in the world also recovered $300 million in liquid securities. This is a major step towards FTX’s goal of paying off its creditors.
In a statement, Ray noted that the team had made important progress in their efforts to maximize recoveries and that it had taken a Herculean investigative effort to uncover this information. He also stated that the team was committed to continuing their efforts to recover as much of the lost assets as possible.
In addition to the $415 million hack that FTX is trying to recover, the bankrupt company is also looking to claw back $2.1 billion Binance repurchase payment. This will come in addition to the $415 million ‚hack‘ sum.
The team at FTX is making every effort to recover as many of the lost assets as possible. They are also working on initiatives to ensure that customers and creditors are reimbursed for the losses they have incurred. The team is also exploring various options to ensure that the exchange can return to operations in the near future.
As the investigation continues, FTX is hoping that more of the lost assets can be recovered and that it can return to normal operations. The team is committed to working hard to make sure that the exchange can once again be a trusted and respected provider of digital asset services.