Cryptocurrency exchange FTX has said in a new report to creditors that hackers stole $415 million in cryptocurrency. FTX has recovered $5 billion worth of cryptocurrency but still faces significant shortfalls at its international and United States-based exchanges. FTX is partially blaming the shortfalls on hacks, with $90 million stolen from its US exchange, and $323 stolen from its international exchange since the company filed for bankruptcy on November 11, 2022.
In addition to the stolen cryptocurrency, FTX reported this week that its balance sheet showed holdings of customer funds were lower than the exchange’s internal accounts had indicated.
In a meeting with debtors this week, the company alleged that $2 million in cryptocurrency from Alameda Research, its affiliated hedge fund, was also stolen.
The company claims “a small group of people were able to take crypto assets off the exchange without any record-keeping.”
Despite recovering $5.5 billion in liquid assets, including $265 million of unrestricted cash in its US-based business, and $273 million in unrestricted cash from its international platform.
Newly appointed CEO John J. Ray III, who took over after Sam Bankman-Fried stepped down, commented on the situation. “We ask our stakeholders to understand that this information is still preliminary and subject to change. We will provide additional information as soon as we are able to do so.”
FTX will also sell its real estate located in the Bahamas valued at $253 million, to help repay its debts.
Bankman-Fried has pleaded not guilty to fraud charges.
