FTX's new boss says security was so weak that founders could 'download half a billion dollars' of crypto without detection, report says
FTX's weak security meant its cofounders — who have both been charged with fraud — could easily have stolen hundreds of millions of dollars' worth of crypto, the bankrupt firm's new CEO said in court testimony reported byJohn J. Ray III, who was drafted in to oversee FTX after its collapse and previously handled Enron's liquidation, made the comments at the Delaware bankruptcy court Monday, per Coindesk.
"Literally one of the founders could come into this environment, download half a billion dollars' worth of wallets onto a thumb drive, and walk off with them," he said, per Coindesk, adding:"And there'd be no accounting for that whatsoever." FTX filed for bankruptcy protection in the US, and then-CEO Bankman Fried resigned his position, on November 11. FTX lawyers later said the company ran out of assets partly because executives had a
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
New FTX CEO Charged Crypto Exchange $690K Last Year: HearingNEW: Replacement FTX CEO John J. Ray III charged the bankrupt exchange $690,000 in hourly fees for 2022. realDannyNelson reports
Leer más »
FTX's new CEO tells bankruptcy court independent investigation would be a waste of moneyFTX's new chief executive told a bankruptcy court Monday there is 'a danger' to authorizing an independent investigation of the crypto exchange's collapse.
Leer más »
New FTX CEO John Ray charged $690K for 2 months of workThe new CEO of FTX charged $690,000 for 2 months of work untangling the failed crypto exchange's chaotic finances
Leer más »
FTX's new CEO says independent investigation would be a waste of moneyFTX's new chief executive told a bankruptcy court Monday there is 'a danger' to authorizing an independent investigation of the crypto exchange's collapse.
Leer más »
FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchangeJudge John Dorsey considered arguments on a motion ordering the appointment of an independent examiner in the FTX bankruptcy case, hearing testimony from CEO John Ray.
Leer más »