FTX Hacked For $600M in User Funds, Tether Blacklists USDT Linked To Incident

IF YOU STILL HAVE THE FTX APPLICATION, IT IS HIGHLY ADVISED TO DELETE IT, AND TO NOT USE THE BROWSER UNTIL FURTHER NOTICE

Over $600 Million in user funds were transferred out of FTX's company wallets, with no explanation.

Some users report seeing 0 balances on their FTX account.

https://twitter.com/0xfoobar/status/1591261359152705538

FTX admins in their official Telegram channels have since pinned messages to inform users that both the site and application has been hacked.

https://twitter.com/unusual\_whales/status/1591301435568050176

“FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans" was pinned by FTX General Counsel Ryne Miller in the official FTX Support Telegram Chat.

https://twitter.com/ArkhamIntel/status/1591334191979188225

https://twitter.com/shiggidy/status/1591290746526896128

https://twitter.com/zachxbt/status/1591325222137135104

Rumors have begun to circulate that the funds could have been siphoned by an insider. While these allegations have not been confirmed, some of the $USDT has been blacklisted by Tether.

https://twitter.com/\_Ryne\_Miller/status/1591326796305530880

Since the malicious transactions, FTX has begun to move all digital asset to cold storage. However, with more than $600 million in user funds gone, the size of FTX's hole seems to continuously grow wider.

Also Read: Do Kwon, Martin Shkreli Give FTX Crisis Management Tips

[Editor’s Note: This article does not represent financial advice. Please do your research before investing.]

Featured Image Credit: Chaindebrief