FTX forewarns exchanges to freeze stolen funds to prevent hacker cashing out


Exchanges cautioned to be on high alert in preparation to freeze assets should the hacker attempt to cash out.

Cover art/illustration via CryptoSlate

FTX announced on Nov. 20 that exchanges should remain alert regarding unauthorized fund transfers from FTX Global and related debtors on Nov. 11.

The transfers sent out were through intermediate wallets and FTX warned exchanges to take all measures to ensure the unauthorized funds be seized and returned to the bankruptcy estate.

How To Get Free Crypto  

Prior to the FTX announcement, blockchain data platform, Chainalysis tweeted out a thread explaining that funds stolen from FTX were on the move and that exchanges should be ready to freeze them if the hacker decides to cash out.

Chainalysis clarified that reports suggesting FTX’s stolen funds were sent to the Securities Commission of The Bahamas (SCB) were false. The Chainalysis team verified that some of the funds had indeed been stolen but some funds were sent to the regulators.

Go to Source
Author: Josh O’Sullivan

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.