FTX Employees Discovered Sam Bankman-Fried’s $65 Billion Backdoor to Customer Assets – IOTW Report

FTX Employees Discovered Sam Bankman-Fried’s $65 Billion Backdoor to Customer Assets

Breitbart: Employees at FTX, once a titan in the cryptocurrency exchange realm before its stunning collapse, uncovered a secretive backdoor used by Sam Bankman-Fried’s Alameda Research to siphon billions of dollars, laying bare a complex web of alleged fraud and mismanagement that precipitated the platform’s dramatic collapse.

The Wall Street Journal reports that months before the catastrophic downfall of FTX, a group of its U.S.-based employees stumbled upon a covert backdoor. This secretive channel, allegedly utilized by Sam Bankman-Fried’s Alameda Research hedge fund, enabled the illicit withdrawal of billions of customer funds from the cryptocurrency exchange, according to insiders that spoke to the Journal. The discovery, which was reported up the chain of command, was seemingly disregarded, as the issue remained unresolved. more

6 Comments on FTX Employees Discovered Sam Bankman-Fried’s $65 Billion Backdoor to Customer Assets

  1. “…which brought the misuse of customer funds into the harsh light of public scrutiny…”

    …which said harsh light was promptly snuffed out by the propaganda arm of the democrat party – aka the MSM. Nothing to see here. Look over there, it’s a TRUUMMMPPPP!

    3

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