FTX says hackers took $415 million in cryptocurrency

Article originally appeared on justthenews.com.

The scandal-plagued cryptocurrency firm FTX has a new challenge: trying to recover nearly half a billion dollars worth of cryptocurrency that it says hackers stole from its accounts.

The company said it has identified roughly $5.5 billion in assets for recovery, of which roughly $415 million was lost to “unauthorized third-party transfers,” CNBC reported. That sum includes $323 million from FTX.com and $90 million from FTX US. The remaining $2 million in crypto came from FTX’s sister firm, hedge fund Alameda Research.

The total value of the assets at the time of the theft was $477 million. That valuation came from analytics firm Elliptic.

FTX suffered a cataclysmic collapse in November when investors simultaneously attempted to withdraw their stakes in the firm, leaving it unable to fully remunerate them. Reports quickly emerged of missing investor assets and suspicious funds transfers to Alameda. The company is attempting …

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