Amid the ongoing trial of FTX co-founder and former CEO Sam Bankman-Fried, a report has surfaced alleging that some of the company’s US-based employees found a hidden backdoor allegedly used by Alameda Research to siphon billions worth of customer funds from FTX, six months before the crypto exchange’s fall.The employees reported the issue to the […]
FTX, a crypto derivatives exchange, has been accused of allowing Alameda Research to withdraw billions in customer funds through a backdoor in the exchange. According to a Wall Street Journal report, some of FTX’s employees in the U.S. were aware of the backdoor, but the problem was never fixed. The team, who worked for LedgerX, […]
The trial against Sam Bankman-Fried, the CEO of the FTX crypto exchange, is underway in Manhattan’s federal courthouse. Marc-Antoine Julliard, a London-based commodities trader, testified that he was lured in by FTX’s confident marketing, which he believed painted the picture of a trustworthy platform. However, he was unaware that his funds might be borrowed. Assistant […]
A notorious FTX account drainer has caused significant disruption in the crypto community by transferring a total of 60,000 ETH from 4 wallet addresses since late September. Reports indicate that the wallets that held close to 200K ETH now have a balance of merely 125K ETH. CertiK Alert, a blockchain sleuth, highlighted that an FTX […]
Sam Bankman-Fried, the former CEO of FTX, is currently facing a six-week trial with seven charges related to fraud and conspiracy to commit fraud. If convicted, he could face over 100 years in prison. On the first day of the trial, Bankman-Fried’s defense counsel delivered an opening statement to the 12 jurors who will decide […]
The federal court, led by Judge Analisa Torres, recently rejected the SEC’s plea for an interlocutory appeal in their litigation against Ripple. This decision maintained that XRP is not a security, and Ripple is facing a substantial penalty of $700 million for the unauthorized sale of securities to institutional entities. The case is set to […]
ZachXBT, a cryptocurrency news outlet, reported that four Friend.Tech users lost a total of $385,000 to SIM-swap attacks. SIM-swap attacks are a type of cybercrime in which a hacker takes control of a victim’s phone number and uses it to gain access to their online accounts. The victims of the attack were not identified.SIM-swap attacks […]
The ongoing trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried, continued on October 4 with both parties giving their opening arguments. The prosecution accused SBF of stealing customers’ funds up to $10 billion and spending it on himself and political contributions. The defense argued that SBF acted in good faith […]
The FTX exploiter has moved roughly $36.8 million worth of Ether ETH in the last 24 hours, amidst the ongoing court trials of the defunct crypto exchange’s ex-CEO Sam Bankman-Fried (SBF). On November 11, 2022, accounts linked to FTX and FTX U.S. were drained off $600 million, hours after the crypto exchange had filed for […]
Visa has been playing a crucial role in driving the adoption of digital assets by integrating conventional payment cards into cryptocurrency exchange offerings. Akshay Chopra, VISA’s VP head of Innovation & Design, spoke to Cointelegraph reporter Ezra Reguerra during a panel at the Blockchain Economy Dubai Summit and highlighted the role that Visa cards have […]
