According to information quoted by Reuters, two sources spoke, who asked to remain anonymous. According to the information, at least $1 billion in client funds were lost in the FTX crisis.
Is SBF, the ex-CEO of the FTX exchange, on the run?
It was previously announced that SBF, the former CEO of the exchange, transferred $10 billion in client funds from FTX to Alameda Research. Currently, it is claimed that a significant part of the fund is missing. One source says the amount of lost funds is close to $1.7 billion. Another unnamed source said the difference is between $1 and $2 billion.
Allegedly, the financial gap has emerged thanks to the records that SBF recently shared with senior executives. People who have provided information to Reuters say they have worked as senior executives at FTX until now. Both state that they closely monitor the financial situation of the company.
Claims of first hacking and then SBF’s escape
As we have reported as Kriptokoin.com; Following the liquidity crisis at FTX, the resigning CEO reportedly flew to Argentina. While the news that SBF has traveled to Argentina has not been officially confirmed so far, reports suggest the same. Previously, approximately $600 million in token transfers took place from FTX and FTX US wallets. After the incident, some FTX employees were suspected to be behind the attack.
News of the $600 million hack came after FTX’s decision to file for Chapter 11 bankruptcy. Then, Sam Bankman-Fried announced his resignation from his post as CEO of FTX. As a result of all these events, investors are grappling with serious questions.
Did he use the “back door” system?
Sources claim that SBF used a “backdoor” in FTX’s bookkeeping system to siphon the money. There is an allegation that the “backdoor” allows Sam Bankman-Fried to execute commands that could alter the company’s financial records without informing others, including external auditors.
Currently, the U.S. Securities and Exchange Commission (SEC) is reviewing FTX.com’s management of client funds and crypto lending activities. The Ministry of Justice and the Commodity Futures Trading Commission are also monitoring the issue. Along with these, the SBF says the following about the allegations:
We did not transfer secretly. We messed up and misread the internal labeling.
Also, when asked about losses, Sam Bankman-Fried replied, “???” gives the answer. More details on the missing funds are awaited.
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