Cryptocurrency

FTX forewarns exchanges to freeze stolen funds to prevent hacker cashing out

FTX announced on November 20th that exchanges should remain vigilant regarding fraudulent fund transfers from FTX Global and related debtors on November 11th.

The money sent was through an intermediary wallet, and FTX has warned the exchange to do whatever it takes to ensure the unapproved funds are seized and returned to bankruptcy.

Ahead of FTX’s announcement, blockchain data platform Chainalysis said funds stolen from FTX were in transit and the exchange was ready to freeze them if hackers decided to cash them out. I tweeted a thread explaining that.

Chainalysis has revealed that reports suggesting stolen FTX funds were sent to the Securities Commission (SCB) in the Bahamas were false. The Chainalysis team confirmed that some funds were indeed stolen, but some were sent to regulators.

A post first appeared on CryptoSlate saying that FTX warns exchanges to freeze stolen funds to prevent hackers from cashing out.

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