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{"id":38638,"date":"2023-01-02T12:15:48","date_gmt":"2023-01-02T06:45:48","guid":{"rendered":"https:\/\/newjerseylocalnews.com\/?p=38638"},"modified":"2023-01-04T19:08:15","modified_gmt":"2023-01-04T13:38:15","slug":"u-s-authorities-are-investigating-a-372-million-hacking-theft-at-ftx-which-led-the-company-to-declare-bankruptcy","status":"publish","type":"post","link":"https:\/\/newjerseylocalnews.com\/u-s-authorities-are-investigating-a-372-million-hacking-theft-at-ftx-which-led-the-company-to-declare-bankruptcy\/","title":{"rendered":"U.S. Authorities Are Investigating a $372 Million Hacking Theft at FTX, Which Led the Company to Declare Bankruptcy."},"content":{"rendered":"

Prosecutors in the United States are looking into reports of cybercrime that reportedly stole more than $370 million<\/strong> from the cryptocurrency exchange FTX in the hours following the business’s bankruptcy declaration last month.<\/p>\n

FTX Controversy<\/h2>\n

Someone in the know reports that the US Department of Justice (DoJ) has begun a criminal investigation into the missing money separate from the fraud case against FTX co-founder Sam Bankman-Fried.<\/p>\n

The person assured us that some of the stolen funds were frozen with the help of US authorities. Overall, though, it appears to be far less than the value of the assets that were frozen.<\/p>\n

Read more<\/strong>:\u00a0Jennifer Aniston \u2013 Why Jennifer Aniston Was \u201cFed Up\u201d With Celebrity News Culture<\/a><\/p>\n

Bankman-Fried stated in interviews before his arrest that the invasion came from within the company, but it could have been the work of a malicious hacker attempting to take advantage of the flaws of a struggling organization.<\/p>\n

These actions could be considered computer fraud, which is a federal crime carrying a ten-year prison sentence if proven guilty.<\/p>\n

The Theft Occurred on the Same Day That the Company Filed for Bankruptcy.<\/h2>\n

New CEO John J. Ray III said on November 12 that unauthorized individuals gained access to FTX assets on November 11, the same day the company filed for bankruptcy.
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\n<\/p>\n

The federal government claims that the alleged hacker took $372 million in assets.<\/strong><\/p>\n

Following the pattern commonly seen in large-scale thefts, Elliptic, a blockchain analytics firm, found that the stolen FTX tokens were traded on decentralized exchanges for Ethereum.<\/p>\n

Read more<\/strong>:\u00a0Find Out How Much You Can Expect From Your New Year\u2019s Stimulus Check-in 2023<\/a><\/p>\n

Another cryptocurrency analytics firm, Chainalysis, reported on November 20 that the stolen funds had been transferred from Ethereum to Bitcoin and were on the move.<\/p>\n

The group at the time warned cryptocurrency exchanges to be on the lookout for any attempts by hackers to withdraw funds.<\/p>\n

A Twitter user who keeps tabs on crypto breaches named ZachXBT claims that further funds were sent to a mixer, a tool that mixes several cryptocurrencies together to hide their true identities.<\/p>\n

Read more<\/strong>:\u00a0New Year\u2019s Day, 2023: New Jersey Offers Dozens of Free Hikes<\/a><\/p>\n

According to a report published on Monday, Paxos, a cryptocurrency exchange, had recovered 11,184 Paxos Gold tokens, valued at almost $20 million, from the stolen assets. According to Paxos, these holdings are supposedly backed by physical gold.
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<\/p>\n","protected":false},"excerpt":{"rendered":"

Prosecutors in the United States are looking into reports of cybercrime that reportedly stole more than $370 million from the cryptocurrency exchange FTX in the hours following the business’s bankruptcy declaration last month. FTX Controversy Someone in the know reports that the US Department of Justice (DoJ) has begun a criminal investigation into the missing […]<\/p>\n","protected":false},"author":41,"featured_media":38639,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[511,44,371,417],"class_list":{"0":"post-38638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-bankruptcy","9":"tag-news","10":"tag-newsbreak","11":"tag-united-state-of-america"},"_links":{"self":[{"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/posts\/38638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/comments?post=38638"}],"version-history":[{"count":0,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/posts\/38638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/media\/38639"}],"wp:attachment":[{"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/media?parent=38638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/categories?post=38638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newjerseylocalnews.com\/wp-json\/wp\/v2\/tags?post=38638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}