Collapsed crypto exchange FTX said on Saturday it was moving funds into offline storage following a series of 'unauthorized transactions', with analysts saying millions of dollars worth of assets had been withdrawn from the platform.
Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
FTX U.S. general counsel Ryne Miller said in a tweet on Saturday that the exchange was expediting the process of shifting all digital assets into cold storage "to mitigate damage upon observing unauthorized transactions."Cold storage refers to crypto wallets that are not connected to the internet to guard against hackers.
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