Woes for users of the Sam Bankman-Fried-owned company show no signs of stopping. Source
FTX Customers Hit By ‘Withdrawal' Phishing Mails After SIM Swap Attack
Tag: FTX
DOJ Wants to Dismiss FTX Founder’s Expert Witnesses From Testifying
The witnesses are Lawrence Akka, a British barrister, Thomas Bishop and Joseph Pimbley, who are with different consulting firms, Brian Kim, a data analytics and forensics expert, Bradley Smith, a law professor at Capital University Law School and Andrew Di Wu, an assistant professor at the University of Michigan. Source
FTX suspends user accounts amid Kroll cyber breach concerns
Following the recent Kroll cybersecurity breach, FTX Derivatives Exchange, a financially distressed cryptocurrency trading company, has opted to temporarily suspend accounts of impacted users accessing its claims portal. FTX’s decision which was posted on X (formerly known as Twitter) was undertaken as a proactive measure aimed at preventing the occurrence of any potential future incidents or additional harm following the recent hack. The exchange is dedicated to offering more comprehensive information in the subsequent stages. In response to Kroll’s cybersecurity incident, FTX has taken the precautionary measure of temporarily freezing…
FTX, BlockFi Customer Details Compromised Due to Kroll Data Hack
Kroll, which did not immediately respond to a request for comment from CoinDesk, is a bankruptcy service provider for numerous companies, not just in the crypto sector. Kroll’s website also promotes a cybersecurity consultancy service, involving “elite cyber risk leaders uniquely positioned to deliver end-to-end cyber security services worldwide.” Source
FTX crypto exchange reports data breach involving claims agent Kroll
Defunct crypto exchange FTX has announced a cybersecurity breach involving its bankruptcy case claims agent, Kroll, in which limited, non-sensitive customer data of specific claimants was exposed. FTX said it is actively overseeing the situation, assuring that account passwords, systems and funds remain unaffected. The struggling crypto exchange utilized the X platform on Aug. 25 to notify its customers, creditors and the public about a cybersecurity breach involving its claims agent Kroll. The breach has resulted in the exposure of non-sensitive customer data from specific claimants linked to the ongoing…
Embattled Crypto Exchange FTX Hires Billionaire Mike Novogratz’s Galaxy Digital To Manage Recovered Crypto
Troubled crypto exchange FTX is hiring a prominent crypto asset management firm to handle its recovered digital assets. In a new court filing, the bankrupt crypto exchange is seeking authorization for billionaire Mike Novogratz’s Galaxy Digital to take over the management of its recovered virtual currencies as a part of its restructuring process. “The Debtors seek authorization for FTX Trading Ltd. to enter into an Investment Services Agreement with Galaxy Digital Capital Management and to perform its obligations thereunder. The Debtors selected Galaxy Asset Management as an investment adviser based…
Is this exchange the next FTX?
The blockchain industry has been revolutionary, to say the least. In the last three years, the crypto market has affected and changed lives positively — mine included. And this is why I am a massive advocate of cryptocurrencies and their power to give anyone financial freedom. Perhaps that is why MicroStrategy CEO Michael Saylor’s quote calling Bitcoin (BTC) “digital gold” resonates with me. As an industry still in its nascent stages, I have had my fair share of unfortunate events happen to me, but none as bad as what I’ve…
FTX engages Galaxy Digital to oversee, sell, and hedge its crypto assets
Bankrupt exchange FTX wants to hire Mike Novogratz’s Galaxy to assist with selling, staking, and hedging its crypto assets. The proposed agreement would see Galaxy managing and trading certain digital assets owned by FTX to convert them into fiat currency or stablecoins. Additionally, Galaxy would be responsible for hedging FTX’s exposure to volatile cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). Galaxy’s compensation would consist of a monthly management fee divided into a hedging fee based on the average net asset value of the assets being hedged and a liquidation fee calculated…
FTX files motion for Galaxy Digital to manage recovered crypto holdings
Mike Novogratz’s digital asset management firm Galaxy Digital looks set to manage the remaining cryptocurrency holdings of bankrupt cryptocurrency exchange FTX. On Aug. 24, the company filed a motion with the United States District Court for the District of Delaware seeking authorization and approval of guidelines for the sale of digital assets recovered during ongoing bankruptcy proceedings. The filing outlines FTX’s requests and plans to transfer some $7 billion worth of recovered cryptocurrency tokens under Galaxy Digital’s management following the exchange’s collapse in 2022. Related: FTX releases restructuring plan, hints at rebooted offshore exchange FTX…
FTX to Hire Galaxy Digital Capital Management to Help Sell Off $3B in Crypto
FTX is hoping interest on its crypto pile will add to the stock it can distribute to customers who are still waiting for their money back. The company, now run by restructuring expert John J. Ray III, worries that selling all in one go would cause the price to plummet, to the benefit of short sellers and other market participants. It’s turning to market experts to figure out how best to avoid that, for example via weekly sales limits. Source