Media: Cryptocurrency exchange FTX reported a $415 million theft

Washington, January 18 – Bankrupt cryptocurrency exchange FTX estimated a potential recovery of $5.5 billion, stating that about 10% of that amount was stolen by hackers, according to CNBC.

According to the channel, citing the release of lawyers and consultants for the cryptocurrency exchange, they have set the amount of liquid funds for recovery at around $5.5 billion. The TV channel reported that three quarters of the money was stolen from the international company, and the rest from the American division.

The company’s attorneys said they are assessing which assets can be returned to the debtors, including founder and former CEO Sam Bankman-Fred’s property in the Bahamas.

In October 2022, the trial will begin against Bankman-Fried, who denies the charges and has been released on $250 million bail. The New York Attorney General’s Office, which is investigating the businessman, accuses him of embezzling client funds. According to investigators, he committed “one of the largest financial crimes in American history.” He was charged with eight counts, including conspiracy, money laundering and a political campaign finance violation. According to the Attorney General’s office, he has resorted to political donations from both the Republican and Democratic parties in the United States to influence decisions made in Washington.

Earlier, FTX had filed for bankruptcy and announced that Bankman-Fried was leaving office. Bloomberg reported on November 12, 2022 that FTX lost $662 million in one day under mysterious circumstances. According to the analytical company Nansen, the outflow from the international and US stock exchanges FTX was recorded.

Some reports claim that FTX’s financial troubles stem from the exchange lending clients money to Bankman-Freed’s Alameda Research cryptocurrency hedge fund.

In late December, Bloomberg reported that Bankman Fried met at least four times with senior White House officials in 2022 before the exchange went bankrupt. According to sources in the White House, the meetings discussed general issues related to the cryptocurrency industry and currency exchanges, as well as the fight against the pandemic. Bankman-Fried was noted for having donated millions of dollars to the US Democratic Party during the 2022 election campaign, making him the party’s second largest single donor.