FTX claims it has been hacked, and instructs users not to install new upgrades or go to FTX.com and to delete FTX apps, after $600M+ in crypto left FTX wallets

FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.

CoinDesk 2022-11-12

Context & Ripple Effects

The warning arrived as FTX had already paused withdrawals after a surge of customer outflows, turning its app and web access into an additional security concern rather than a route to normal account service. FTX US said it was moving remaining funds to cold wallets to limit further exposure.

Later recovery reporting treated the unauthorized transfers as part of the assets FTX needed to account for, while a subsequent DOJ case connected the incident to an alleged phone-hacking scheme. The episode therefore sits at the intersection of an exchange collapse, emergency custody controls, and a criminal investigation.

First-order effects

FTX users are directed to stop using its apps and website, while FTX shifts remaining funds into cold storage to contain the reported unauthorized transfers.
FTX's estate must separate potentially stolen assets from the exchange's recoverable pool; later reporting identified $415 million in unauthorized third-party transfers within that process.

Second-order effects

Customers seeking access to assets face both the withdrawal halt and a compromised access channel, increasing the operational burden on FTX's recovery effort.
The reported hack gives investigators a distinct theft trail alongside the collapse itself; the later DOJ action alleges that a phone-hacking scheme included the FTX theft.

Third-order effects

For centralized exchanges in distress, custody migration becomes a security-critical phase: failure at the moment of a run can expand losses beyond customer withdrawals and complicate creditor recoveries.
The FTX case points to closer overlap between exchange insolvency proceedings and cybercrime enforcement, as asset recovery depends on attributing unauthorized transfers rather than treating all missing funds as a single shortfall.

The trend: Crypto exchange failures are increasingly exposing how liquidity stress, emergency custody controls, and account-compromise risks can compound one another.

Discussion

@_ryne_miller Ryne Miller on x
Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it. @FTX_Official
@0xfoobar @0xfoobar on x
Hundreds of millions of dollars are now flowing out of FTX wallets, some speculate liquidators but it's late on a friday night, not typical times for such rapid heavy movements. Some withdrawals are being swapped from Tether to DAI. Hack or insider actions? $26 million here https…
@zachxbt @zachxbt on x
Breaking: $3.9m USDT on AVAX and $27.5m USDT on SOL of the FTX attacker's has been blacklisted by Tether https://twitter.com/...
@elonmusk Elon Musk on x
FTX meltdown/ransack being tracked in real-time on Twitter
@elonmusk Elon Musk on x
@sama https://twitter.com/...
@zachxbt @zachxbt on x
Multiple former FTX employees confirmed to me they do not recognize these transfers for ~$383m https://twitter.com/...
@0xtre @0xtre on x
Official: FTX has been hacked. Source: admin of FTX Community Chat https://twitter.com/...
@spreekaway @spreekaway on x
New FTX funds wallet approving stETH to sell on 1inch... https://twitter.com/...
@dogetoshi Steven on x
FTX's bankruptcy process appears to be starting as funds from both international and US wallets are being sent to 0x59abf3837fa962d6853b4cc0a19513aa031fd 32b https://twitter.com/...
@autismcapital @autismcapital on x
🚨 ALERT: High probability insiders at FTX are currently trying to run off with funds. Both FTX and FTX US wallets have now been affected and commingled. The current amount being laundered is ~$380M. Please share information below. Let's crowdsource this.
@zachxbt @zachxbt on x
As a precaution do not update or touch your FTX account for the time being until there is further clarity. https://twitter.com/...
@vitalikbuterin @vitalikbuterin on x
@Kdenkss MtGox “looked” sketchy and never tried too hard to whitewash itself. Luna too. FTX was the opposite and did full-on compliance virtue signaling (not the same thing as compliance) The second kind of fraud cuts deeper than the first.
@edvis100 @edvis100 on x
1/ @AlamedaResearch and @FTX_Official Ventures had access to nearly every crypto round. Our database showed 255 companies. Here it is. https://twitter.com/...
@mudit__gupta Mudit Gupta on x
FTX has been hacked. Their wallets are being drained, hundreds of millions of dollars have been stolen. The website is non-functional. The mobile app got a new update which might be malware. Uninstall it ASAP. 500m+ drained already. Might be the biggest hack or rug pull ever. htt…
@im_goomba @im_goomba on x
This is too perfect 😂 https://twitter.com/...
@0xfoobar @0xfoobar on x
@_Ryne_Miller FTX just pinned this message in their main telegram chat https://twitter.com/...
@scupytrooples @scupytrooples on x
This is what happens to spider's webs when you give them drugs https://twitter.com/...
@jchervinsky Jake Chervinsky on x
A lot of people think the collapse of FTX is evidence that crypto doesn't have a future. For me, it's the exact opposite. This proves why crypto—trustless, permissionless, uncensorable crypto—is the only path forward for the future. This week, we grieved. Next week, we build.
@milkroaddaily @milkroaddaily on x
The CEO of Alameda HOW IS THIS REAL LIFE ?!? https://twitter.com/...
@gordongoner @gordongoner on x
FYI, here's all the ETH we had on https://ftx.us/ (shows up as blockfolio on etherscan) getting moved to CB Custody earlier in the week. Gets all moved around in CB as part of their system after this tx so beware amateur etherscan sleuths. https://etherscan.io/...
@kuroxlb Kuro on x
what's gary wang working on while his exchange explodes and goes bankrupt? https://twitter.com/...
@lookonchain @lookonchain on x
Please pay attention to the safety of your funds, a lot of funds transferred out from FTX and sold through DEX! Currently $UNI, $stETH, 1INCH, $WBTC, $SUSHI, $YFI, $LDO have been sold. Also $PAXG, $LINK, $MATIC, $AAVE, $SNX, $SHIB and $APE did not sell. https://etherscan.io/... h…
@cryptoub @cryptoub on x
@edzitron - Funds being transferred out of FTX and sold for $DAI - Wallet balances on FTX showing zero Better to be safe and completely remove the app at this time.
@wublockchain Wu Blockchain on x
The official FTX community administrator (not sure if he has resigned) spoke on the telegram community and pinned: FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on ftx site as it might download Trojans. https://twitter.com/...
@edzitron Ed Zitron on x
The great thing about crypto is you can follow the money in real-time as it goes through accounts called “ftx accounts drainer” and “cumsock dot eth” https://etherscan.io/... https://twitter.com/...
@zachxbt @zachxbt on x
An interesting wallet on Solana. They withdrew ~$70m USDC from FTX to OKX in the final hours before withdrawals closed on 11/8. https://solana.fm/... https://twitter.com/...
@0xfoobar @0xfoobar on x
Recipient wallet here: https://etherscan.io/... They seem to be moving everything https://twitter.com/...
@0xfoobar @0xfoobar on x
@_Ryne_Miller My best interpretation is that FTX counsel noticed the blackhat thefts getting dumped to ETH and DAI onchain, then took whitehat actions to save the remainder of funds. Estimates from @zachxbt have the blackhat theft at ~450m and whitehat rescue (multisig) at ~200m …
@ki_young_ju Ki Young Ju on x
FTX got hacked but highly likely insider job. Do not update or install FTX app. https://twitter.com/...
@autismcapital @autismcapital on x
FTX likely currently under attack or insiders running off with funds. 🚨 https://twitter.com/...
@cz_binance @cz_binance on x
What a sh!t show... And it's going to be crypto's fault, (instead of one guy's fault)... https://twitter.com/...
@bitboy_crypto Ben Armstrong on x
SBF literally just hacked the remaining assets at FTX. Guarantee it's him. He's done this before (see my previous tweet). The fact he has not been arrested already shows negligence of @DOJPH & @SECGov. Do your FREAKING job.
@watcherguru @watcherguru on x
JUST IN: FTX telegram admins release statement saying the exchange has been hacked.
@0xfoobar @0xfoobar on x
After swapping USDT for DAI (more censorship-resistant?), they just swapped $44 million of stETH for ETH, eating huge slippage. This is super sketchy, no liquidator would be taking actions like this https://twitter.com/...
@minigrogu @minigrogu on x
Gulfstream G450 Registered LV-KEB: Departed from Nassau Bahamas at 8:18 p.m. heading towards South America Not yet confirmed if directly related to FTX Can you imagine? https://www.flightradar24.com/ ... https://twitter.com/...
@dmitryopines Dmitry Grozoubinski on x
Trying to follow a crisis in crypto: “BTC is crashing because SBF backdoored FTX via Github to liquidate its Splurgecoins via a DAO-bridge Worblewallet before the Whitehat Spifflebutt could dump the Doge into an icebox to save it from an Alameda SQL injection. In the cloud.”
@beastlyorion @beastlyorion on x
They are throwing everything at us to try and get us to give up on decentralized money. Remember that FTX is a centralized institution and the collapse is a result of centralized power in the hands of idiots. It is an example of why decentralized money and finance is important.
@dogetoshi Steven on x
@The_C_Hewitt Hacker is surprisingly diligent this time selling only $6M of LINKS. $16.5M left. Wants to TWAP out I guess. https://twitter.com/...
@bitboy_crypto Ben Armstrong on x
Alameda has always been about insider moves, why would this be any different? How tf are these people not arrested yet? 👇 Caroline Ellison Gary Wang Dan Friedberg John Wu Sam Bankman-Fried https://twitter.com/...
@jasonfurman Jason Furman on x
Genuine question: How did people think that FTX was funding the 8% interest it was paying on Bitcoin deposits if it was not using its customers funds for something? What was the benign explanation for this while the assets were fully/safely available for redemption?
@noahpinion @noahpinion on x
So, did SBF just steal his customers' money and flee the country? Is that what just happened? https://twitter.com/...
@zachxbt @zachxbt on x
@0xfoobar @agunk522 BlackHat seems like 0x59 & 6sek1 (~$450m?) Whitehat seems like 0x97 & 0xd8 (~$196m) Not sure about 6b4ay ($1.6b if counting illiquid tokens like MAPS OXY etc.)
@stackersatoshi Satoshi Stacker on x
WARNING: The admin of the FTX community chat states that FTX has been hacked, all funds are gone, and FTX apps have malware. Do not go to the site or use the app
@arkhamintel @arkhamintel on x
The FTX hacker 0x59 is TWAP dumping all assets into CowSwap DEX aggregator, and has been for the last 2 hours. Asset breakdown soon. https://twitter.com/...
@cryptotony__ @cryptotony__ on x
If you have missed out on all the drama regarding FTX, then this really sums it up in 2 tweets 🙃 https://twitter.com/...
@marionawfal Mario Nawfal on x
So last week everyone talked about crypto bottoming Today we find out the hero crypto billionaire repping us in D.C. built a ponzi high on drugs w/ a naked team of sex addicts May sound funny at first but sad when you realize Im not even exaggerating Welcome to 2022 Crypto 🥲
@tree_of_alpha @tree_of_alpha on x
Woke up, reading the group chats. Ftx hacked, maybe whitehats, maybe not, maybe part of it, elon jumped on a twitter spaces about ftx said “doge to the moon keep your funds off exchanges” I went to sleep for one night how did I miss 2 weeks of crypto developments exactly??
@dogetoshi Steven on x
@The_C_Hewitt Bridging MATIC to Polygon for better liquidity. When did this guy become so cognizant of slippage. Dude nuked stETH like it was nothing. https://twitter.com/...
@harrymccracken Harry McCracken on x
Between this and you know what, this has been a dumber week than some entire decades in tech history. https://www.coindesk.com/...
@jillrgunter Jill Gunter on x
“What are we watching tonight babe?” “Etherscan”
@titanxbt @titanxbt on x
CTO does the most contributions, next day FTX is “hacked”. FTX and FTX US devs don't get access to both, has to be a high up executive. Hack also rushed and traceable. Good luck my kings. We're catching these mfs.
@statelayer @statelayer on x
stop making approvals every 15 minutes and dump ur fkn tokens SBF we're tired over here
@hsakatrades @hsakatrades on x
Woke up and things have somehow gotten even more worse. Kidnapping, hacking, extortion? What the fuck is going on. https://twitter.com/...
@gordongoner @gordongoner on x
It hasn't affected us. We never used https://ftx.com/ though some of our partners did. We had some money on https://ftx.us/ but we moved it out earlier in the week. Heart goes out to anyone who has been hurt by this insanity. https://twitter.com/...
@ryansadams Ryan Sξan Adams on x
The FTX app has now turned into malware. And it's only Friday.
@crypto_chase @crypto_chase on x
@Tradermayne Inside job they're saying, person would have required very high levels of access within FTX website. IMO someone flew out, got to their safe spot, and now taking it all.
@tradermayne Mayne on x
Rot in the deepest pit of hell with a cucumber up ur arse you POS. @SBF_FTX
@devchart @devchart on x
People are really out here pulling out tweets from 2019 where Su Zhu was trashing FTX, treating him like a hero and completely forgetting that 3AC was literally ranked 1st on the FTX leaderboard and that they were involved in literally every shady shit ftx and alameda pulled. htt…
@novogratz Mike Novogratz on x
This is distressing. Who is running the place now? https://twitter.com/...
@dogetoshi Steven on x
Funds are again moving out from FTX. This time to a new wallet https://etherscan.io/... https://twitter.com/...
@sobylife @sobylife on x
Github activity of Gary Wang the FTX CTO. He did his most contributions yesterday. WHAT IS GOING ON?! https://twitter.com/...
@coinbureau @coinbureau on x
Warning: Apparently FTX has been hacked. Multiple sources including the official admin have confirmed this. Don't go on the site. Don't download their apps and if you have it, delete it! It just never ends... https://twitter.com/...
@tree_of_alpha @tree_of_alpha on x
This was probably THE hardest significant rug/hack to avoid, even for otherwise-savvy people. During the whole Luna/UST ordeal you could've withdrawn and taken a haircut at any time. Here we went from “rumors about famed exchange spark” to “withdrawals locked” in a week.
@litcapital @litcapital on x
apparently FTX wallets were hacked, rumors of SBF fleeing to South America, Reuters saying $1B of customer deposits are missing, Kyle Davies of 3AC resurfaced on twitter alright I'm gonna try to put the phone down
@functi0nzer0 Laurence on x
Guys I don't think we can trust SBF anymore
@punk6529 @punk6529 on x
I cannot remember such a trainwreck bankruptcy, in or outside crypto. Mt Gox still probably in #2 spot but FTX is the gold medalist by a mega margin https://twitter.com/...
@icebergy_ @icebergy_ on x
ya after thinking about this you prob should change all passwords, switch to 2fa device, change emails just in case https://twitter.com/...
@magicaltux Mark Karpelès on x
FTX Japan reports assets of its Japanese users are safe. https://twitter.com/...
@coindesk @coindesk on x
Stablecoin issuer Tether has apparently blocked some funds tied to the FTX account drainer's wallets that sold tokens on Avalanche and Solana networks. By @shauryamalwa https://www.coindesk.com/...
@valueandtime Daniel Mateö on x
Probably not the time to bring up Tom Brady had $500M invested into FTX.
@0xfbifemboy @0xfbifemboy on x
LMAO the FTX API docs are way better than they were yesterday, who TF is updating the docs??? h/t @CantelopePeel https://twitter.com/...
@conejocapital Bunny on x
https://twitter.com/...
@asvanevik @asvanevik on x
Does FTX keep KYC docs on file, or is it managed by a 3rd party? If they really got hacked, lots of ID docs gonna be on the loose.
@thedata_nerd @thedata_nerd on x
$400M from FTX Inl and FTX US has been consolidated into a new wallet, 0x59a. Seems not like regulators as it bought memecoin such as FTX Bankruptcy, ... It has also been selling some tokens on CowSwap: • 2,4M $UNI • 17M $1INCH • 332 $YFI • 831K $SUSHI • 2,5M $LDO https://twitter…
@gurgavin @gurgavin on x
JUST WOKE UP WTF FTX GOT HACKED OVERNIGHT AND EVERY SINGLE DOLLAR THAT WAS LEFT WAS STOLEN MY HACKERS ????
@adamscochran Adam Cochran on x
Balances on FTX zero'd out while money moves. Apps not loading. This has to be the digital version of putting it all in the shredder, right? (Btw don't visit websites or apps with logins, just incase it is externally compromised, but doubt it)
@qtrresearch @qtrresearch on x
“I'd like to introduce prosecution Exhibit C, your honor” https://twitter.com/...
@enjoyoor @enjoyoor on x
the entire FTX office building has literally vanished into thin air leaving no trace of its whereabouts sources say https://twitter.com/...
@lawmaster @lawmaster on x
@Tree_of_Alpha I don't know if that's true. We had like two days between when some mildly suspicious things started to happen and when they paused withdrawals. I was told by people to withdraw and had plenty of time and yet didn't. And that's after flagging that Alameda was scram…
@adamscochran Adam Cochran on x
This has to be an insider hack. Private key, root level on website, and publisher key access to the apps? There is no way that was sitting on one connected hot system?
@generativist @generativist on x
one exciting thing about crypto is we all effectively have a bloomberg terminal to watch this happen https://twitter.com/...
@cryptovinco @cryptovinco on x
What's happening on FTX is 100% insiders orchestrating a rug pull in order to steal users funds. But as they alway do, they will just blame it on a hack... just like Mt. Gox, Bitfinex, Bitstamp, Binance, and many more have done in the past. There was no hack.
@zackvoell Zack Voell on x
SBF famously told a Twitter trader to sell SOL for $3 then fuck off. Now his net worth is $3, per Bloomberg. SBF roasted Coinbase team size and bragged about FTX's lean engineering team. Now his fraud exchange is being drained of all remaining funds. Karma is a bitch.
@quant_network Quant on x
With the issues besetting crypto exchanges like #FTX, a more grownup approach is needed. A 🧵 1/4
@spectatorindex @spectatorindex on x
BREAKING: FTX's Telegram account claims the company's exchange has been hacked.
@punk6529 @punk6529 on x
1/ I did not have to uninstall any exchange apps from my phone today, because I never installed any exchange apps on my phone (at any time since 2013) Always seemed to have all types of risk vectors to carry around effectively exchange “private keys” on your phone.
@peckshieldalert @peckshieldalert on x
#PeckShieldAlert The address 0x59ab...32b labeled as FTX Accounts Drainer has swapped 400,000,000,000 $SHIB (~$3.9M) to 2,346 $ETH (~$2.96M), -$1M https://twitter.com/...
@lefterisjp @lefterisjp on x
Heartbreaking to see people wonder if they got hacked due to using the FTX app, ex-blockfolio app etc I've been banging the #opensource drum for more than 10yrs now Listen up. Use auditable code. Use local apps that don't depend on the whims of others and protect your #privacy ht…
@0xradar @0xradar on x
Can FTX situation get any worse? Now its hacked, Sam on the run, what else can happen right now? Big nuke?
@sassal0x @sassal0x on x
I'm really glad that the regulators sanctioned Tornado Cash, cozied up to SBF and focused on killing DeFi instead of putting in guardrails to potentially prevent the FTX collapse I feel very protected as an investor right now
@the_delysium @the_delysium on x
In light of recent events, we would like to express our deepest sympathies for everyone affected by the FTX situation. We'd like to be fully transparent with the #Delysium community and would like to share some important information in regard to this. 1/n
@raypaxful Ray Youssef on x
FTX US also “hacked”... pretty clear that @cz_binance didn't take down FTX, he just stirred the pot a bit and showed the emperor had no clothes. This was all Sam and his criminal cronies. We owe CZ a thank you from saving us from something worse.. a slow death for the entire spac…
@degenspartan @degenspartan on x
theory: he converts everything to ETH and sits on it when value reaches $10b, he returns everything
@investmentshulk @investmentshulk on x
IMAGINE HAVING YOUR HEDGE FUND COMPLETELY CRUSH THE SHORT LUNA TRADE ONLY TO THEN COMPLETELY BLOW UP ON OP RISK WITH HALF OF ASSETS LOST ON FTX. https://twitter.com/... https://twitter.com/...
@hsakatrades @hsakatrades on x
Man, easily been the most mentally taxing week ever. The reality of the sheer levels of chicanery that transpired still hasn't set in. Not going anywhere, couldn't leave this space even if I tried. The season finale has aired, but the show goes on.
@tree_of_alpha @tree_of_alpha on x
Sam allegedly used custom CLI backdoors to alter financial books without it sending alerts to other employees & auditors. I shudder to even imagine the damage this lunatic would have done if we kept going and user funds on FTX grew 4-5x what they were before the rug.
@edzitron Ed Zitron on x
A senior FTX employee retweeted this @cobie tweet about a year and a half ago. Anyway I assume that someone knew something somewhere that's for sure https://twitter.com/... https://twitter.com/...
@titanxbt @titanxbt on x
Github activity of Gary Wang the FTX CTO. He did his most contributions yesterday. He definitely setup this “hack” https://twitter.com/...
@octal Ryan Lackey on x
If I stole $1-2B of remaining FTX funds, among the hottest in the world, I would probably trade them aggressively in defi over the weekend to make other, unconnected wallets make profits. Airgap via market. Could burn $2B to $0 and in process make “clean” $100mm gains.
@msuiche @msuiche on x
FTX infrastructure may have been compromise. Unclear if it's the mobile apps or the websites or both categories. USD $386M + USD $84M syphoned to the two following wallets: 0x59abf3837fa962d6853b4cc0a19513aa031fd 32b 0xd8019a114e86ad41D71a3EeB6620b19Dd166A 969 https://twitter.com…
@tszzl Roon on x
can someone please leak ftx stimulants guide https://twitter.com/...
@loopifyyy @loopifyyy on x
Here is some hopium for you. Even with LUNA and 3AC blowing up, the general consensus on Crypto Twitter was everyone was still expecting a bull market so it wasn't going to happen. With this FTX debacle, it's the first time in a while everyone thinks it's over...
@stunlikes @stunlikes on x
dude lied to the end like a child that got caught stealing.
@themlpx @themlpx on x
FTX's main wallet used to process withdrawals drained of it's entire FTT balance 1 hour ago 45.8M FTT tokens withdrawn, ~$97.2M in value https://twitter.com/...
@jonwu_ @jonwu_ on x
watching $380m get drained from FTX wallets rn https://twitter.com/...
@marionawfal Mario Nawfal on x
If FTX tweets SBF was kidnapped by CZ, who also kidnapped Do Kwon and Alex Mashinsky, I won't be surprised anymore Jokes aside, shit is getting insane...
@josephpolitano @josephpolitano on x
Nobody fully seems to know what's going on yet, but hundreds of millions in on-chain assets are being moved from FTX wallets and the telegram admin just pinned a message saying the company was hacked. https://twitter.com/...
@wallstreetsilv Wall Street Silver on x
FTX just released this message on their Telegram channel. It looks like they are claiming it is a hack and the FTX wallets are being looted tonight. There is a bankruptcy freeze in place. The bankruptcy trustee says he is not involved in what is happening tonight. https://twitter…
@abu9ala7 Mohammad on x
Someone should save all the images/screenshots/chats/news headers of FTX into a folder. We're literally witnessing history and these things will be forgotten with time Holy shit
@autismcapital @autismcapital on x
A source inside FTX shares the alpha on stimulants within the organization: https://twitter.com/...
@richerd @richerd on x
Not your keys not your ASCII
@tradermayne Mayne on x
Looking at my FTX balance knowing I can't touch it. https://twitter.com/...
@kdenkss @kdenkss on x
FTX's collapse is going to live long in the memories. I was around for Mt Gox in 2012 and that was before the industry really penetrated the mainstream. This is such a disaster for crypto that FTX seems destined to become a synonym just like Enron did a generation ago. https://tw…
@adamscochran Adam Cochran on x
Yeah this is weird. Also the hack theory is weird, cause the Apple developer key to push updates would have to be on a Mac device which is super rare to connect to a hot system on the backend of an exchange... Still all points to inside job. https://twitter.com/...
@leonidasnft @leonidasnft on x
FTX lied to millions of users, injected malware into their computers, gambled away billions of dollars, and just lost the rest in a hack, but don't worry, a guy who wrote several lines of code in the Tornado Cash contract is in jail and Sam is chilling on a beach.
@tayvano_ @tayvano_ on x
fwiw what I'm seeing on chain doesnt conflict with the story being told by FTX.... https://twitter.com/...
@dannydiekroeger @dannydiekroeger on x
FTX has apparently been “hacked”, which in the crypto industry just means the devs sent the money to themselves
@davidfbailey @davidfbailey on x
What we've just learned is that FTX was a scam from the very beginning and SBF anticipated this as the outcome.
@dylanleclair_ @dylanleclair_ on x
There is no “smart money” in the crypto space. The strategy is literally spray and pray. Bitcoiners have a different vision.
@mhonkasalo @mhonkasalo on x
FTX's security systems failed hours after declaring bankruptcy after operating for years without an issue. Yes, it's a “hacker” who did this.
@autismcapital @autismcapital on x
Former HIGH level FTX insider: “I think this has to be an inside job. There is just no way to have this much root access so quickly. There are too many different wallets and products to pull this off at once.”
@altcoindailyio @altcoindailyio on x
Did anyone not have crypto on FTX?
@mikeisaac Rat King on x
i was literally halfway through moneyball last screen in the FTX telegram chat before it seems to have been shuttered https://twitter.com/...
@loopifyyy @loopifyyy on x
Elon Musk just pumped DOGE on a Twitter spaces about FTX and is absolutely slamming Sam right now. The simulation continues. https://twitter.com/...
@robustus Dan McArdle on x
The corrupt stuff that happens in tradfi is all largely secret, details never publicly known. In crypto we watch 100s of millions in stolen funds move on-chain in real time and live-tweet it.
@tittyrespecter @tittyrespecter on x
So FTX basically did this https://twitter.com/...
@whale_alert @whale_alert on x
🚨 321,764,309 #TRX (17,552,566 USD) transferred from #FTX to unknown wallet https://whale-alert.io/...
@davidinglestv David Ingles on x
This story keeps giving. FTX hit by a mysterious outflow of ~$660M in the past 24 hours. Nansen estimated the coins flowed out of both FTX's international and US exchanges https://www.bloomberg.com/... https://twitter.com/...
@0xfoobar @0xfoobar on x
@_Ryne_Miller App update confirmed, likely malicious to seek root access to further private keys. Delete it asap. Don't touch the website. Probably a compromised dev account. https://twitter.com/...
@coinmamba @coinmamba on x
No way FTX is getting hacked after declaring bankruptcy. How's that even possible?
@bitfinexed @bitfinexed on x
FTX “hacked”. What a happy fucking coincidence. https://twitter.com/...
@altcoinpsycho @altcoinpsycho on x
Does anyone have tangible proof that FTX is pushing a Trojan Virus via website / mobile app? Seeing a lot of sensationalism and “sources”, but nothing concrete yet
@iamdcinvestor @iamdcinvestor on x
wouldn't surprise me if this ends with SBF locking himself in a booby trapped bunker at this point
@wassielawyer @wassielawyer on x
Me: Chapter 11 is actually ok in these circumstances since it freezes the company and ensures no more shenanigans like the Bahamas loophole and TRON facility, giving the company some breathing room and a stable platform to restructure. *FTX gets hacked for 600m* Sigh...
@salsatekila @salsatekila on x
Delete your FTX app if you downloaded, DO NOT update it. Any phone app.
@219_eth @219_eth on x
We might be witnessing one of the largest crimes in history rn. FTX servers being wiped? Funds have been hacked? wtf is going on
@parikpatelcfa @parikpatelcfa on x
Leaked photo of the FTX “hacker” https://twitter.com/...
@dtrain22k @dtrain22k on x
This is crypto's white ford bronco moment
@route2fi @route2fi on x
If you thought it was over after yesterday's bankruptcy for FTX, think again. FTX just got hacked for almost $400M. All funds are drained. All balances are zero. Insane.
@jeffjohnroberts Jeff Roberts on x
Holy shit. The Pulitzer committee should give this guy—and Crypto Twitter as a whole—a prize for their FTX reporting https://twitter.com/...
@bantg @bantg on x
https://twitter.com/...
@219_eth @219_eth on x
i think they might have wiped ftx data
@nycsouthpaw @nycsouthpaw on x
The crypto community with its scofflaw ethos will test the automatic stay of the bankruptcy code in not-exactly-new ways and perhaps learn the trustee's not-exactly-gentle methods of fighting back. https://twitter.com/...
@captaindefi2 @captaindefi2 on x
I decompiled FTX app and they use React Native That is why they can require you to download an update without using Google Play / App Store Because the update is JavaScript 🧵 1/5 https://twitter.com/...
@altcoinpsycho @altcoinpsycho on x
Interesting how both FTX and FTX US have been hacked, considering they're completely different entities with completely different security protocols Hard to believe this isn't a coordinated inside job, most FTX admins don't have access to FTX US and vice versa
@0xquit @0xquit on x
This FTX saga is starting to get so insane that I'm starting to believe the conspiracy theories. Now Nikolai's death is attributed to Sam and there's an underground sex trafficking ring running out of FTX HQ? Fuck it, sounds plausible 🍿
@sheldonevans Sheldon Evans on x
FTX operated like a bank. That's the problem. Crypto has nothing to do with this entire shitstorm. Wait till they learn that all banks operate with fractional reserves.
@marionawfal Mario Nawfal on x
🚨Reports of SMS messages & emails being sent by FTX to customers to log into the app & website, which are infected with a trojan as part of the hack FTX has millions of users. Things are about to get a LOT worse. Please warn as many ppl as you can before it's too late!
@camirusso Camila Russo on x
Funds have been flowing out of FTX for the past two hours. Users reporting accounts going to zero. Very unlikely it's the liquidator, more likely a hack or an inside job, but right now $$ 100s of millions are being taken out and nobody knows what's actually happening. https://twi…
@altcoindailyio @altcoindailyio on x
The signs were all there. #FTX #SBF https://twitter.com/...
@mrjasonchoi Jason Choi on x
Translation: Legally speaking, half of @SBF_FTX's burden would be on this “hacker” now, implying he has every reason to orchestrate this final rug pull to save himself https://twitter.com/...
@tradermayne Mayne on x
Losing the money sucks, I can make that back. But what sucks more is the time, making that money took mother fucking time. That shit I can't get back.
@mhonkasalo @mhonkasalo on x
We forgot about his Horcruxes. https://twitter.com/...
@cryptokaleo @cryptokaleo on x
Yeah reading this thread looking not great. Seems like an incredibly inefficient way to consolidate assets if it's legit. Can't imagine them dumping on a DEX rather than settling OTC w/ the size in the wallet https://twitter.com/...
@richerd @richerd on x
Watching the FTX drama happen in real time is pretty surreal. It feels like we're all watching a movie, but the scary part is that we're not...
@iamnoahmiller Noah Miller on x
FTX is a learning lesson for all. If you don't already, store your assets in a hard wallet.
@wublockchain Wu Blockchain on x
The FTX attacker addresses $3.9 million USDT on the Avalanche and 27.5 million USDT on the Solana have been frozed by Tether. The hacker address of 0x59A...d32b still holds $369 million in assets. In the next step it may transfer funds into Tornado cash.
@219_eth @219_eth on x
“we lost most of your money” ... ... ... “ok, we lost the rest too”
@statelayer @statelayer on x
seeing everyone's balances were set to zero, they probably deleted all records of anything that ever happened on FTX didn't they?
@dylanleclair_ Dylan LeClair on x
Fraud running rampant. Millions of funds are currently flowing off of FTX. https://twitter.com/...
@rnr_0 Romano on x
REMOVE FTX APP FROM YOUR PHONE DO NOT OPEN THE WEBSITE EITHER THIS IS NOT A DRILL DELETE FTX APP FROM YOUR PHONE NOW
@marionawfal Mario Nawfal on x
Remember, FTX's volume was 90% smaller than Binance If FTX was Lehman, Binance is BlackRock. Binance runs crypto and Tether is the gas.
@drericding Eric Feigl-Ding on x
$600 million in crypto suddenly shifted mysteriously thru a maze of accounts after @FTX_Official gets hacked. Tech folks warn also **do not install** the FTX mobile app software update—could likely have malware. #FTX declared bankruptcy yesterday morning. https://twitter.com/...
@rmac18 Ryan Mac on x
This ad just describes a Ponzi scheme right? Am I going insane how did this run. https://twitter.com/...
@thecryptolark Lark Davis on x
FTX being hacked, wallets being drained. Hopes of anyone getting anything seem unlikely. This is a shitshow and bad beyond belief for the industry. #bitcoin #crypto #frx
@sassal0x @sassal0x on x
I have just landed in the Bahamas Bitboy and I are commencing ‘Operation Find Bankman’ The raid on SBF's hideout will be livestreamed https://twitter.com/...
@peckshieldalert @peckshieldalert on x
#PeckShieldAlert The address 0x59ab...32b labeled as FTX Accounts Drainer has bridged ～10k $ETH on BSC out via Multichain https://twitter.com/...
@mikeisaac Rat King on x
DO NOT CROSS THE STREAMS https://twitter.com/...
@autismcapital @autismcapital on x
We've received confirmation that Sam's drug was actually Emsam. It is a drug normally used to treat Depression and Parkinson's disease but also gives performance enhancing and wakefulness effects. https://twitter.com/...
@altcoinpsycho @altcoinpsycho on x
You know what would've been bad? If the hacker quietly installed a Trojan via the CSV you all downloaded for your trade activity. Imagine if they didn't move FTX funds, and just silently trojan'd. The amateurism of this exploit makes me think its probably just an inside job https…
@adamscochran Adam Cochran on x
Fake a hack, white hat some funds, fail to recover the rest, claim your system must have always been compromised and hope you avoid jail? Just one wild theory floating around in my mind. Cause whatever it is, it is next level dumb/desperate.
@0xwave @0xwave on x
If you have granted FTX access to pull your funds though ACH, I'd highly consider trying to lock your account down. Seems like there's a root-level access entity draining funds, could imply they have access to other internal systems
@tradermayne Mayne on x
FTX site and App down Potentially being hacked. We really ain't ever getting our money back are we.
@azidynamics @azidynamics on x
Terminal FTX servers deactivated
@srpeterseth @srpeterseth on x
FTX just rug pulled everything https://twitter.com/...
@cointelegraph @cointelegraph on x
Crypto exchange Bitfinex leads by example by publicly listing 135 cold and hot wallet addresses as proof of reserve. https://cointelegraph.com/...
@arthur_0x Arthur on x
As someone who went through a similar event 5 months ago, what I can say is. It truly seems so tough that you might feel like giving up, but things will get better. Stay strong.
@titanxbt @titanxbt on x
SBF is truly the worst person to ever touch crypto https://twitter.com/...
@0xdoug Doug Colkitt on x
1/ Very rough and speculative sketch of what I increasingly think happened at FTX as more info comes out... The central question is where did the money go? Yes malfeasance and fraud is necessary, but at one point in the cycle cash actually has to go out the door
@peter_tl Peter Thal Larsen on x
Financial disruption at its very worst. https://www.reuters.com/... https://twitter.com/...
@ericliptonnyt Eric Lipton on x
REUTERS: “Backdoor” allowed Bankman-Fried to execute commands to alter financial records without alerting others, including external auditors. So movement of the $10 billion in funds to Alameda did not trigger internal compliance or accounting red flags https://www.reuters.com/..…
@mikeisaac @mikeisaac on x
musk is now in this twitter space saying he spoke to SBF for a half hour when Elon was putting money together for the twitter deal and Elon's “bullshit meter” was going off and he didn't cut him in what is even happening
@smtuffy Sean Tuffy on x
Amazing, it's like SBF did the greatest hits version of all the frauds https://twitter.com/...
@evanhill Evan Hill on x
Yea I believe this is called theft https://www.reuters.com/... https://twitter.com/...
@0xdoug Doug Colkitt on x
16/ Imagine a casino where all the games were +EV, except the house doesn't actually have money to cash out the chips. Nobody would notice because instead of cashing out, they'd just keep pouring bee funds into the money machine. FTX was a ponzi targeting trading firms
@alphaketchum Alfa on x
We're about to see the entire thing get tornado'd. Prepare yourselves brosquitossss. https://twitter.com/...
@toptickcrypto @toptickcrypto on x
SBF secretly transferred $10 billion from FTX to Alameda of which $1-2 billion is now missing. SBF: “We didn't secretly transfer,” he said. “We had confusing internal labeling and misread it,” Asked about the missing funds, Bankman-Fried responded: “???” https://www.reuters.com/.…
@0xdoug Doug Colkitt on x
14/ At one point or another Alameda lost more than it could internally fund. At that point it had to dip into FTX reserves. This probably seemed innocuous at first. After all SBF, on paper was worth near $100bn between FTX and Solana at peak market cap. What's a few million USD
@jagoecapital @jagoecapital on x
FTX Legal & Finance teams say @SBF_FTX implemented a “back door” into the book-keeping system that allowed Sam to alter records & move money undetected The “back door” was used to send $10 Billion from @FTX_Official to @AlamedaResearch without triggering red flags on the books ht…
@r0h1n Rohin Dharmakumar on x
This is why billionaire tech and crypto bros despise journalists. They always end up shining light in places that were kept dark, telling stories that were meant to be never discovered, and reporting facts that are inconvenient. A back door 😑 https://www.reuters.com/... https://t…
@0xdoug Doug Colkitt on x
5/ I think at this point Alameda hatches a much more audacious exit plan. (Linear utility is a hell of a drug.) The prop trading operation as an independent entity won't survive. But it's liquidity can be used to bootstrap a lucrative consumer facing crypto exchange
@otteroooo @otteroooo on x
this is fraud at its highest level unforgivable with the power of our shared autism let's bring SBF to justice 🦦 https://twitter.com/...
@mudit__gupta Mudit Gupta on x
that little shid 😡 https://www.reuters.com/... https://twitter.com/...
@samueloakford Samuel Oakford on x
“Asked about the missing funds, Bankman-Fried responded: ‘???’” https://www.reuters.com/...
@iron_spike @iron_spike on x
There's a lot going on right now, so I'm not seeing a tone of mentions about this, but: this is a big deal. FTX paid influencers literally millions of dollars to promote them to their fanbases. A lot of folks just got screwed over by their favorite YTer/TikToker. https://twitter.…
@0xdoug Doug Colkitt on x
7/ Sam has now turned a -EV trading strategy into an exchange valued at tens of billions based off growth metrics being basically generated by Alameda itself. Riding off nosebleed valuations and VC demand for crypto tech exposure.
@0xdoug Doug Colkitt on x
4/ But inefficient markets rarely stay that way. As more actual pros enter the space their alphas are starting to decay to zero. It happens. It's a self-contained process. You size down and eventually shut off. You don't lose (much) money, you just stop making money and move on
@jason_kint Jason Kint on x
Backdoor? “The documents showed that between $1 billion and $2 billion of these funds were not accounted for among Alameda's assets, the sources said. The spreadsheets did not indicate where this money was moved, and the sources said they don't know what became of it.” https://tw…
@smtuffy Sean Tuffy on x
C'mon https://www.reuters.com/... https://twitter.com/...
@mevnormie @mevnormie on x
@0xdoug their onchain bots were visibly making millions per day on arbs on solana and other chains. also you can't hide non stop losses from all hedge fund employees. it doesn't add up.
@dusk_codes @dusk_codes on x
Wtf? Man had a secret CLI to doctor the finances? https://www.reuters.com/... https://twitter.com/...
@lowstrife @lowstrife on x
Bankman implemented what the two people described as a “backdoor” in FTX's book-keeping system... They said the “backdoor” allowed Bankman-Fried to execute commands that could alter the company's financial records without alerting other people, including external auditors. Enron
@lowstrife @lowstrife on x
“Bankman-Fried showed spreadsheets to the heads of the company's... that revealed FTX had moved around $10 billion in client funds from FTX to Alameda... The spreadsheets displayed how much money FTX loaned to Alameda and what it was used for” This guy lied to fuckign everyone. h…
@0xdoug Doug Colkitt on x
3/ Let's rewind to 2017/18. Alameda the prop firm is a big fish in a little pond. They're mediocre traders (there's a video of SBF bragging about how their quoter latency is down to something like two seconds). But crypto is still a weird asset class that most won't touch
@tiffanyfong_ Tiffany Fong on x
Between $1.7B - $2B of #FTX client funds have suddenly vanished. What the fuck. https://www.reuters.com/...
@0xdoug Doug Colkitt on x
23/ Normally liqs are easily profitable layups. But if you have mediocre trading systems, a big liquidation with a lot of toxic one way flow in a fast market is bad Seems likely that Luna pushed them over the edge, not because of prior exposure but just the FTX liquidations
@samueloakford Samuel Oakford on x
Meanwhile, right now in the official FTX Telegram chat, which just went private: https://twitter.com/...
@alphaketchum Alfa on x
https://www.reuters.com/... It's Sam. He's transferred everything to Alameda. Wow. He doesn't care.
@_ryne_miller Ryne Miller on x
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.
@certikalert @certikalert on x
#CertiKSkynetAlert 🚨 FTX US general counsel @_Ryne_Miller announced that FTX was in the preliminary steps to move all assets to cold storage and the process was expedited by recent ‘unauthorized transactions’. We will continue to update with more information as it rolls out. http…
@zachxbt @zachxbt on x
Appears a portion was “whitehat” funds. Would assume this is the 0x97 & 0xd8 address. https://twitter.com/...
@lookner Steve Lookner on x
Update from FTX's head lawyer https://twitter.com/...
@magicaltux Mark Karpelès on x
Tips when your company goes bankrupt (actually applies to everything legal in my experience): don't talk about it on social networks. Any lawyer will tell you to stfu about this kind of shit because anything you say is a liability to yourself and others. #notlegaladvice
@edzitron Ed Zitron on x
ftx's general counsel says that this is all fine. I am going to choose not to believe him. Makes absolutely no sense https://twitter.com/...
@0xfoobar @0xfoobar on x
@_Ryne_Miller Now the general counsel is saying this was planned in advance? Directly contradicting himself from hours ago. Bizarre behavior https://twitter.com/...
@investvoyager @investvoyager on x
Voyagers, as a result of the Chapter 11 filing by @FTX_Official and FTX US we have reopened the bidding process and are in active discussions with alternative bidders. For more information, please read our joint press release with @VoyagerUCC: https://www.newswire.ca/...
@cryptokaleo @cryptokaleo on x
This is the most vague tweet ever. So how were you or no one else familiar with this earlier? https://twitter.com/...
@jespow Jesse Powell on x
Narrow escape of a double disaster for @investvoyager creditors. Same thing happened with Bitcoinica creditor's funds being trusted with Gox back in the day. I warned of this possibility and people thought I was fear mongering. Top bidder for balances most likely to be insolvent …
@tobin_tweets Michael Tobin on x
In light of FTX, @Katie_Roof and I wrote about VCs investments in troubled fintech startups, from Greensill to LendingClub. https://www.bloomberg.com/...
@katie_roof Katie Roof on x
I saw documents showing that even as of Monday of *this week,* some investors were still so in the dark about FTX's pitfalls that they refused to sell their shares to a prospective buyer on the secondaries market https://www.bloomberg.com/...
@mgsiegler M.G. Siegler on x
Lasted one — one! — of the nineteen — nineteen! — years. 🏀🔥 https://www.espn.com/... https://twitter.com/...
@om @om on x
So the curse of the stadium names is still strong! Enron Field, Qwest, and add FTX to the mix! @danprimack https://www.espn.com/... https://twitter.com/...
@grindingpoet @grindingpoet on x
Looks like FTX took the page out of Enron playbook. Enron bought naming rights to a stadium in 1999. The footprint was everywhere. https://twitter.com/...
@blockfi @blockfi on x
https://twitter.com/...
@founderflori Flori Marquez on x
2) @BlockFi is an independent business entity. We have a $400MM line of credit from https://ftx.us/ (not https://ftx.com/) and will remain an independent entity until at least July 2023.
@autismcapital @autismcapital on x
People claiming BlockFi had nearly 100% of their customers assets custodied on FTX.
@cole0x Cole on x
Hearing from several founders (privately) that their treasuries are wiped The contagion is only just starting

Chronicles