FTX Hack

As if the current situation with FTX wasn’t already bad enough, FTX software may contain malware. This was discovered by the cyber security branch of the Kraken Exchange, after more than 400 million dollars was drained from FTX on Friday night. The funds were stolen from user cold storage wallets with private user keys. According to the evidence, it’s likely that the FTX hack was an inside job, perpetrated by an FTX employee. As of now, the name of the suspect has not been released.

User funds on FTX and FTX US are insured against theft. Any FTX users who’s crypto was stolen from their account can expect a refund. For the time being however, FTX and FTX US have frozen all transactions on the exchange until further notice.

It’s never easy to deliver bad news, however we will continue to provide updates as this story unfolds.

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