Tag: FTX

Effective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer

Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research. Speaking to Cointelegraph just days before FTX founder Sam Bankman-Fried’s Oct. 3 trial, Aditya Baradwaj shared how the ideology played a role in the company’s collapse while explaining what it was like to work under the former billionaire. Baradwaj claimed that effective altruism — which advocates that people make as much money as possible to give it away later…

FTX Exploiter Executes Ongoing Funds Exodus, Moves $17 Million In ETH In One Day

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According to an on-chain report on Saturday, September 30, an address associated with the FTX exploiter became active for the first time in 10 months. As earlier reported, some 5,000 ETH (equivalent to $8.2 million) was transferred from the flagged address (identified as 0x3e9) to new addresses on Saturday. However, in the latest development, blockchain data tracker Spot On Chain revealed that the FTX exploiter has moved more than $17 million worth of Ether tokens in the past 24 hours. FTX Exploiter To Keep Moving Stolen Funds, Spot On Chain…

Shark Tank’s Kevin O’Leary Says New Regulatory-Compliant Crypto Exchange Set To Replace Binance and FTX

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Venture capitalist Kevin O’Leary says that a major crypto exchange is being set up to launch in the Middle East. In a new Fox Business interview, O’Leary says that the hostile regulatory climate in the United States is letting innovative crypto firms slip away from the country. The Shark Tank star says that instead of burgeoning in the US, major players are looking to build in other countries that have a friendlier stance on the nascent industry. “This hasn’t been announced yet but in Abu Dhabi, they are planning to…

FTX exploiter moved more than $17.1M in ETH within the last 24 hours

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According to recent information from Spot On Chain, an address linked to the FTX exploit, identified as 0x3e9, has conducted transfers exceeding 10,000 ETH, valued at more than $17.1 million, across five different addresses within the past day. It’s worth noting that these addresses had remained inactive for several months before this recent activity. Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain router and Railgun contract. Furthermore, the exploiter engaged in a swap involving 2,500 ETH, valued at $4.19 million,…

DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets

The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company.  The DOJ submitted a letter motion in limine on Sept. 30, to enable them to get the interpretation of the witnesses on FTX’s treatment of customer assets, which will hold significant importance. Importantly, these testimonies are intended to provide valuable perspectives on the interactions…

DOJ readies witnesses in Bankman-Fried trial, highlights FTX asset management

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The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submitted a letter motion in limine on Sept. 30 describing the witnesses it intends to call concerning FTX’s treatment of customer assets. The testimonies intend to provide perspectives on the interactions between the accused and the witnesses. It also aims to get the witnesses’ understanding of Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management. The DOJ intends…

FTX Customers, Investors Will Testify Against Sam Bankman-Fried, DOJ Says

“To obtain likely less than 30 minutes of testimony from overseas FTX customer witnesses, however, requires, for at least some countries, coordinating with local authorities, arranging multi-day travel itineraries to accommodate varying time changes and travel delays, and incurring significant costs associated with such arrangements. Notwithstanding those hurdles, the Government is in the process of arranging for some overseas FTX customers to travel to New York to testify,” the letter said. Source BankmanFriedcustomersDoJFTXInvestorsSamTestify CryptoX Portal

FTX Exploiter Transfers 5,000 ETH Ahead of Ether Futures ETF Launch

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Some 5,000 ETH, worth over $8.2 million, have been moved from a wallet address associated with the FTX hacker. This development marks the first time assets have been transferred out of the hacker’s wallet following the exploit about a year ago. FTX Hacker Moves 5,000 ETH, Spot On Chain Reveals Marked as one the biggest crypto heists ever, the now-defunct FTX exchange suffered a loss of over $600 million through an hack in November 2022, a few hours after filing for bankruptcy.  According to the on-chain analytics platform Spot On…

FTX hacker’s wallet stirs as Ethereum ETFs prepare for US debut

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Almost a year after the FTX hack of $600 million in tokens, on-chain data revealed recent activity in the perpetrator’s wallet, identified as 0x3e957, on Saturday, Sept. 30, 2023. This is occurring closely to the launch of Ethereum-based ETF in the United States. Based on on-chain data from Spot On Chain, the exploiter recently activated their address after a prolonged period. Presently, the wallet contains a substantial sum of $16.75 million of Ether (ETH). FTX Exploiter 0x3e957 just moved 2500 $ETH ($4.2M) to new addresses This is the first time the…