The collapsed stock market cryptocurrencies FTX it said on Saturday it detected “unauthorized transactions” as analysts said millions of dollars in assets were removed from the platform.
Blockchain analytics firm Elliptic said that around $473 million worth of crypto assets were “moved out of FTX wallets under suspicious circumstances this morning,” but that it could not confirm that the tokens had been stolen.
FTX’s US general counsel, Ryne Miller, said in a tweet shortly after 0700 GMT on Saturday that the firm “expedited” the process of moving all digital assets to cold storage “to mitigate damage by observing unauthorized transactions.”
Following the Chapter 11 bankruptcy filings – FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening – to mitigate damage upon observing unauthorized transactions.
— Ryne Miller (@_Ryne_Miller) November 12, 2022
Cold storage refers to cryptocurrency wallets that are not connected to the internet to protect against hackers.
Earlier on Saturday, Miller tweeted that he was “investigating abnormalities with wallet movements related to the consolidation of FTX balances across exchanges.”
Prior to Miller’s tweets, FTX officials appeared to confirm rumors of a hack on the firm’s Telegram channel, according to a CoinDesk report that indicated that the exchange instructed clients to remove FTX apps to prevent its use. website.
“FTX has been hacked,” an account manager wrote in a message on the FTX Support Telegram channel, according to CoinDesk.
Reuters could not immediately verify the details posted on FTX’s private Telegram channel.
The firm filed for bankruptcy protection in the United States on Friday and its founder, Sam Bankman-Fried, resigned as chief executive.
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