FTX claims the company was hacked, telling users to delete FTX apps, not install app updates, and not to visit FTX.com, after $600M+ in crypto left its wallets
trustless, permissionless, uncensorable crypto—is the only path forward for the future. This week, we grieved. Next week, we build. @cz_binance : What a sh!t show... And it's going to be crypto's fault, (instead of one guy's fault)... https://twitter.com/... @profjeffjarviss : With its enlightened pro-crypto outlook, El Salvador should offer SBF and Do Kwon asylum in its London embassy. @harryh : A lot of people talking about what crypto could have been if it wasn't for a bunch of scammers & fools. This completely misses the point: the only function of cryptocurrency is to separate fools from their money and give it to scammers. There has never been any other purpose. Adam Taggart / @menlobear : “Bankrupt cryptocurrency exchange FTX is probing a potential hack and asked customers to stay off the FTX website” Man, this story is like watching a multi-car pileup happen before our eyes... https://www.wsj.com/... Nick Maggiulli / @dollarsanddata : The irony of “not your keys, not your coins” being a core tenant of the crypto community while many of the users have their money on centralized exchanges...smh https://twitter.com/... Travis Yost / @travisyost : Let me save you some time, it's fraud, like everything else in crypto. It's ALWAYS fraud. https://twitter.com/... Matt Ballensweig / @mattballen4791 : The insanity of Theranos, speed of Lehman and scale of Enron. Ed Zitron / @edzitron : 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/... Miles Jennings / @milesjennings : This week's events will be used by some to paint web3 as the “wild west.” In reality, these events, like prior excessive financial risk-taking collapses, are instances of wrongdoing that were preventable. We have to stop this from happening again. Chris Wysopal / @weldpond : “FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans,” wrote an account administrator in the FTX Support Telegram chat. https://www.coindesk.com/... Aaron Levie / @levie : Siri, please explain the stock market to mark https://twitter.com/... Eric Jackson / @ericjackson : I would argue that FTX is much less of an existential threat to crypto because the whole ecosystem is 8 years older, larger and more developed @grdecter : 4. FTX worked with auditing firm Prager Metis that has an office in the Metaverse. https://twitter.com/... Mathew Ingram / @mathewi : This is absurd. We can't blame Sam? For lending customers' investments to his trading platform and not telling anyone? Everyone was just supposed to magically know that this thing was a house of cards? https://twitter.com/... Charles Gasparino / @cgasparino : Its only fitting that the world's greatest troll owns Twitter https://twitter.com/... Gergely Orosz / @gergelyorosz : FTX going bankrupt brings huge damage to other crypto companies. I'm told a crypto lending unicorn is expected to shut down as soon as Monday. No one working any more - including customer support. Leadership advising employees to prepare CVs. I assume more will follow. Ashlee Vance / @ashleevance : After this whole FTX mess, I think someone really needs to invent a radically transparent electronic ledger for tracking transactions. If done right, it could change how we buy and track all kinds of things. @jordanschachtel : I think most people have the SBF/FTX narrative backwards. Not a govt operation, but a team of aggressive fraudsters that wanted to become a govt endorsed/regulated entity. They were well positioned to succeed, but fell short bc ponzi got exposed. Will have more on in coming days. DonAlt / @cryptodonalt : Can't believe I misjudged FTX/Sam in the way I did. Apologies to everyone that trusted them more than they should've because of my faith in them. Tried and trying hard to dodge all scammers, fell for one of the biggest out there . Just sad really, hard to trust anyone anymore Justin Bennett / @justinbennettfx : Some think the FTX contagion fear is overblown. But when the person who lit the match to expose the ugly truths tells you to expect more pain, you should expect more pain. Eric Lipton / @ericliptonnyt : FYI, those crypto boosters arguing the problem with FTX was its centralized status—and the answer is to jump to DeFi (decentralized finance) where the movement of crypto assets relies on the code “protocol” not people-YOU HAVE BEEN WARNED. Massive fraud there too. DOJ report https://twitter.com/... Aaron Levie / @levie : The lesson for the tech industry in the FTX saga should not be that people were “duped”. There was a company operating out of the Bahamas, running Super Bowl commercials, with like 12 engineers, that allows people to day trade fake things. It was all there. @buccocapital : Fascinating week No red wave Elon gets clowned FTX blows up After 3yr of nothing making sense, and the absurd reigning supreme, this week was absurd exactly b/c logic + common sense prevailed For 3 yrs you'd be like this is dumb this shouldn't work. But it did Until this week @route2fi : After this week's events, I'm more bullish than ever about the long-term outlook for DeFi. It just shows how much we need something that is completely decentralized without any middlemen that can f*ck it up entirely (ref. FTX). @autismcapital : UPDATE on FTX Hack: There are rumors that Kraken has found the FTX attacker. Credible sources are sharing it seems more likely to be a whitehat/blackhat group. The hacker is not yet confirmed. We want to crowdsource the search. Posting block explorer links in the next tweet: @7im : Writers' Room Note: Making the FTX guy's surname “Bankman” is a bit heavy handed @modestproposal1 : Have complicated and in some cases conspiratorial threads. But isn't this most likely explanation? They were overlevered, illiquid and suffered losses. Thought they could trade their way out of it or buy time to make it whole. Not at all an excuse. But isn't it most likely? https://twitter.com/... Wall Street Silver / @wallstreetsilv : 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.com/... https://twitter.com/... David Gokhshtein / @davidgokhshtein : FTX and https://ftx.us/ weren't hacked. This had to be a inside job by SBF and his crew. They played this entire industry and the ripple effects haven't been felt yet. @hunterwalk : Tweets that say “FTX Fraud Bad but If You Building In Crypto and Not Fraud Here My Calendly Link” is what counts as deep introspection in venture capital Tero Kuittinen / @teroterotero : I guess what fascinates me about these YouTube stars is how insanely annoying they are - I'm sure it's not by nature, it's just what the algos have shaped them to be. This is what people want to watch. It's so grim and hopeless. https://twitter.com/... Ryan Mac / @rmac18 : why does this feel like Adam McKay directed this as an add on to The Big Short https://twitter.com/... @cloud_opinion : Is it wrong for FTX to take the money away from idiots? If FTX didn't take their money, they would have blown it away on Avocado Toasts. @scupytrooples : This is what happens to spider's webs when you give them drugs https://twitter.com/... @gordongoner : 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/... @autismcapital : FTX likely currently under attack or insiders running off with funds. 🚨 https://twitter.com/... @zachweinberg : Inside job. Suspect looks like this: https://twitter.com/... https://twitter.com/... @profjeffjarviss : To show my commitment, I'm offering an unprecedented, one-time-only 70% off discount on my digital Bored Sam Bankman-Fried portraits. Offer expires at midnight tonight. Wu Blockchain / @wublockchain : FTX hacker is very likely an inexperienced insider. Kraken was also used throughout the hack to offload funds. According to @MarioNawfal. Kraken CSO said that the identity of the hacker is already known. https://twitter.com/... https://twitter.com/... Gergely Orosz / @gergelyorosz : I don't know how accurate the below is. I expect the biggest impact will be on companies which entrusted either their treasuries, or their customer funds with FTX. Given FTX was seen as a stable exchange (despite the poor regulation), likely lots of crypto startups used them. https://twitter.com/... Dare Obasanjo / @carnage4life : Whenever someone says a billionaire is humble because they drive a Corolla and wear cheap looking clothes, my response is to show me where they live. It's never disappointed. https://twitter.com/... Frank Chaparro / @fintechfrank : Kraken CTO says FTX hacker has been identified https://twitter.com/... Erik Voorhees / @erikvoorhees : “Big advocate for Sam, because he has two parents who are compliance lawyers. If there's ever a place I can be that I'm not going to get in trouble, it's going to be at FTX.” https://twitter.com/... Mario Nawfal / @marionawfal : 🚨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! Ki Young Ju / @ki_young_ju : FTX got hacked but highly likely insider job. Do not update or install FTX app. https://twitter.com/... @jason : I just want say, I think we are 100%, probably, unequivocally perhaps living in a simulation. https://twitter.com/... @coinbureau : 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/... @0xfoobar : Recipient wallet here: https://etherscan.io/... They seem to be moving everything https://twitter.com/... @nekoztek : Everyone is jumping ship and trying to steal a piece. Swaps are happening into DAI since can't be stopped. Personally shorting assets with 8 figure holdings. Currently have positions on $LINK , $UNI, $AAVE. https://twitter.com/... @zachxbt : 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/... Bunny / @conejocapital : https://twitter.com/... @bantg : https://twitter.com/... Mario Nawfal / @marionawfal : 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 🥲 @dylanleclair_ : There is no “smart money” in the crypto space. The strategy is literally spray and pray. Bitcoiners have a different vision. Dmitry Grozoubinski / @dmitryopines : 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.” @iamdcinvestor : wouldn't surprise me if this ends with SBF locking himself in a booby trapped bunker at this point Laurence / @functi0nzer0 : Guys I don't think we can trust SBF anymore Adam Cochran / @adamscochran : 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? @mhonkasalo : We forgot about his Horcruxes. https://twitter.com/... @autismcapital : 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.” @noahpinion : So, did SBF just steal his customers' money and flee the country? Is that what just happened? https://twitter.com/... Adam Cochran / @adamscochran : 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. @219_eth : We might be witnessing one of the largest crimes in history rn. FTX servers being wiped? Funds have been hacked? wtf is going on @cryptovinco : 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. @0xwave : 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 Mayne / @tradermayne : FTX site and App down Potentially being hacked. We really ain't ever getting our money back are we. @crypto_chase : @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. Adam Cochran / @adamscochran : 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) Noah Miller / @iamnoahmiller : FTX is a learning lesson for all. If you don't already, store your assets in a hard wallet. @themlpx : 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/... Mayne / @tradermayne : Rot in the deepest pit of hell with a cucumber up ur arse you POS. @SBF_FTX @thedata_nerd : $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.com/... @219_eth : i think they might have wiped ftx data Mohammad / @abu9ala7 : 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 Mayne / @tradermayne : 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. @0xfbifemboy : LMAO the FTX API docs are way better than they were yesterday, who TF is updating the docs??? h/t @CantelopePeel https://twitter.com/... @davidfbailey : What we've just learned is that FTX was a scam from the very beginning and SBF anticipated this as the outcome. Ryan Lackey / @octal : 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. Daniel Mateö / @valueandtime : Probably not the time to bring up Tom Brady had $500M invested into FTX. @whale_alert : 🚨 321,764,309 #TRX (17,552,566 USD) transferred from #FTX to unknown wallet https://whale-alert.io/... @sassal0x : 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/... Jill Gunter / @jillrgunter : “What are we watching tonight babe?” “Etherscan” @josephpolitano : 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/... @asvanevik : 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. @srpeterseth : FTX just rug pulled everything https://twitter.com/... @coinmamba : No way FTX is getting hacked after declaring bankruptcy. How's that even possible? Ryan Sξan Adams / @ryansadams : The FTX app has now turned into malware. And it's only Friday. @msuiche : 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/... Jason Choi / @mrjasonchoi : 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/... @route2fi : 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. @jonwu_ : watching $380m get drained from FTX wallets rn https://twitter.com/... @minigrogu : Gulfstream G450 RegisteredLV-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/... @enjoyoor : the entire FTX office building has literally vanished into thin air leaving no trace of its whereabouts sources say https://twitter.com/... Camila Russo / @camirusso : 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://twitter.com/... @qtrresearch : “I'd like to introduce prosecution Exhibit C, your honor” https://twitter.com/... @altcoinpsycho : 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 @sobylife : Github activity of Gary Wang the FTX CTO. He did his most contributions yesterday. WHAT IS GOING ON?! https://twitter.com/... @the_delysium : 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 @punk6529 : 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/... @0xquit : 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 🍿 @nycsouthpaw : 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/... @titanxbt : 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. @dannydiekroeger : FTX has apparently been “hacked”, which in the crypto industry just means the devs sent the money to themselves @wassielawyer : 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... @0xradar : Can FTX situation get any worse? Now its hacked, Sam on the run, what else can happen right now? Big nuke? @titanxbt : Github activity of Gary Wang the FTX CTO. He did his most contributions yesterday. He definitely setup this “hack” https://twitter.com/... @azidynamics : Terminal FTX servers deactivated Mario Nawfal / @marionawfal : 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... @gurgavin : JUST WOKE UP WTF FTX GOT HACKED OVERNIGHT AND EVERY SINGLE DOLLAR THAT WAS LEFT WAS STOLEN MY HACKERS ???? @tittyrespecter : So FTX basically did this https://twitter.com/... @statelayer : seeing everyone's balances were set to zero, they probably deleted all records of anything that ever happened on FTX didn't they? @arkhamintel : 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/... @beastlyorion : 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. @loopifyyy : 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... Jason Furman / @jasonfurman : 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? @altcoindailyio : Did anyone not have crypto on FTX? Eric Feigl-Ding / @drericding : $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/... @loopifyyy : Elon Musk just pumped DOGE on a Twitter spaces about FTX and is absolutely slamming Sam right now. The simulation continues. https://twitter.com/... @peckshieldalert : #PeckShieldAlert The address 0x59ab...32b labeled as FTX Accounts Drainer has bridged ～10k $ETH on BSC out via Multichain https://twitter.com/... @icebergy_ : ya after thinking about this you prob should change all passwords, switch to 2fa device, change emails just in case https://twitter.com/... @degenspartan : theory: he converts everything to ETH and sits on it when value reaches $10b, he returns everything Arthur / @arthur_0x : 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. @zachxbt : @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.) @tree_of_alpha : 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?? @219_eth : “we lost most of your money” ... ... ... “ok, we lost the rest too” @generativist : one exciting thing about crypto is we all effectively have a bloomberg terminal to watch this happen https://twitter.com/... @cryptokaleo : 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/... @statelayer : stop making approvals every 15 minutes and dump ur fkn tokens SBF we're tired over here Dan McArdle / @robustus : 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. @dtrain22k : This is crypto's white fordbronco moment @richerd : 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... Romano / @rnr_0 : REMOVE FTX APP FROM YOUR PHONE DO NOT OPEN THE WEBSITE EITHER THIS IS NOT A DRILL DELETE FTX APP FROM YOUR PHONE NOW @mhonkasalo : FTX's security systems failed hours after declaring bankruptcy after operating for years without an issue. Yes, it's a “hacker” who did this. @investmentshulk : 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/... @peckshieldalert : #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/... @sassal0x : 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 Mario Nawfal / @marionawfal : Remember, FTX's volume was 90% smaller than Binance If FTX was Lehman, Binance is BlackRock. Binance runs crypto and Tether is the gas. @lawmaster : @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 scrambling for funds @richerd : Not your keys not your ASCII @lefterisjp : 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 https://twitter.com/... @tree_of_alpha : 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. @punk6529 : 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. Wu Blockchain / @wublockchain : 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. @stunlikes : dude lied to the end like a child that got caught stealing. @salsatekila : Delete your FTX app if you downloaded, DO NOT update it. Any phone app. @gordongoner : 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/... @hsakatrades : 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. Zack Voell / @zackvoell : 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. Jeff Roberts / @jeffjohnroberts : Holy shit. The Pulitzer committee should give this guy—and Crypto Twitter as a whole—a prize for their FTX reporting https://twitter.com/... Ed Zitron / @edzitron : 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/... @0xfoobar : @_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/... @cryptotony__ : If you have missed out on all the drama regarding FTX, then this really sums it up in 2 tweets 🙃 https://twitter.com/... @captaindefi2 : 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/... Roon / @tszzl : can someone please leak ftx stimulants guide https://twitter.com/... @leonidasnft : 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. Mayne / @tradermayne : Looking at my FTX balance knowing I can't touch it. https://twitter.com/... Mark Karpelès / @magicaltux : FTX Japan reports assets of its Japanese users are safe. https://twitter.com/... @tree_of_alpha : 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. @altcoinpsycho : 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://twitter.com/... @altcoinpsycho : 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 @litcapital : 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 @kdenkss : 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://twitter.com/... Sheldon Evans / @sheldonevans : 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. David Ingles / @davidinglestv : 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/... Quant / @quant_network : With the issues besetting crypto exchanges like #FTX, a more grownup approach is needed. A 🧵 1/4 @parikpatelcfa : Leaked photo of the FTX “hacker” https://twitter.com/... @tayvano_ : fwiw what I'm seeing on chain doesnt conflict with the story being told by FTX.... https://twitter.com/... @hsakatrades : Woke up and things have somehow gotten even more worse. Kidnapping, hacking, extortion? What the fuck is going on. https://twitter.com/... @zachxbt : Appears a portion was “whitehat” funds. Would assume this is the 0x97 & 0xd8 address. https://twitter.com/... Ben Armstrong / @bitboy_crypto : 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 : JUST IN: FTX telegram admins release statement saying the exchange has been hacked. Ryan Mac / @rmac18 : This ad just describes a Ponzi scheme right? Am I going insane how did this run. https://twitter.com/... Ray Youssef / @raypaxful : 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 space https://twitter.com/... @cointelegraph : Crypto exchange Bitfinex leads by example by publicly listing 135 cold and hot wallet addresses as proof of reserve. https://cointelegraph.com/... @coindesk : 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/... @altcoindailyio : The signs were all there. #FTX #SBF https://twitter.com/... Harry McCracken / @harrymccracken : Between this and you know what, this has been a dumber week than some entire decades in tech history. https://www.coindesk.com/... Mike Novogratz / @novogratz : This is distressing. Who is running the place now? https://twitter.com/... Adam Cochran / @adamscochran : 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/... Rat King / @mikeisaac : DO NOT CROSS THE STREAMS https://twitter.com/... Satoshi Stacker / @stackersatoshi : 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 @spectatorindex : BREAKING: FTX's Telegram account claims the company's exchange has been hacked. Lark Davis / @thecryptolark : 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 Rat King / @mikeisaac : i was literally halfway through moneyball last screen in the FTX telegram chat before it seems to have been shuttered https://twitter.com/... Steven / @dogetoshi : @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/... Steven / @dogetoshi : @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/... @bitfinexed : FTX “hacked”. What a happy fucking coincidence. https://twitter.com/... @0xfoobar : 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/... Dylan LeClair / @dylanleclair_ : Fraud running rampant. Millions of funds are currently flowing off of FTX. https://twitter.com/... Ben Armstrong / @bitboy_crypto : 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 FriedbergJohn Wu Sam Bankman-Fried https://twitter.com/... Steven / @dogetoshi : Funds are again moving out from FTX. This time to a new wallet https://etherscan.io/... https://twitter.com/...
CoinDesk
Context & Ripple Effects
The incident came after FTX had effectively paused withdrawals following roughly $6B in net withdrawals over 72 hours and declared bankruptcy. The reported wallet outflows turned a liquidity collapse into an immediate account-security and malware-risk event for customers.
Later recovery disclosures counted $415M in unauthorized third-party transfers among identified liquid assets, while a subsequent DOJ case tied the episode to an alleged phone-hacking scheme. That record makes the emergency warnings consequential beyond a single night of transfers.
First-order effects
FTX users were told to remove its apps, avoid its website and reject updates, cutting off normal access channels while the company sought to limit malware exposure.
FTX US moved remaining funds to cold wallets to mitigate damage, shifting the immediate priority from customer service to custody containment.
Second-order effects
Tether froze funds associated with wallets labeled as the FTX drainer, showing how issuers and other intermediaries can intervene once stolen assets enter identifiable addresses.
The combination of paused withdrawals, zeroed reported balances and emergency app warnings further weakens customers' confidence in centralized exchange custody at the moment they need access to funds.
Third-order effects
The episode reinforces a crypto legitimacy gap: exchange failures are judged not only on solvency but on whether custody, communications and security controls hold during a crisis.
If recovery and law-enforcement actions become a recurring response to exchange breaches, programmable crypto settlement will remain dependent on centralized issuers, custodians and investigators to contain losses.
The trend: Crypto markets are confronting the mismatch between always-on, programmable assets and the trust and emergency controls required of centralized custodians.
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
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.
1/ We, like all of you, were shocked by the events that unfolded over the past week. Jump's exposure to FTX was managed in accordance with our risk framework and we remain well capitalized.
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…
Warren Buffet and Charlie Munger on crypto in 2018. Absolutely nailed it. Turns out the old guys actually know what they're talking about... who knew. https://twitter.com/...
Heard from VC LPs this week: VC just had its Enron/Madoff moment (I'm old - worked through both) In both cases, LPs made a big shift in what they require for diligence, disclosure and communication. New standards will emerge. No GP - not even the very best - will be immune
This is a thread of my thoughts and feelings about the actions that led to FTX's bankruptcy, and the enormous harm that was caused as a result, involving the likely loss of many thousands of innocent people's savings.
just to confirm i'm understanding the FTX collapse: over a million people put $1 billion in assets into a crypto company, founded in the bahamas, by a 28 year old. am I understanding this right.
One last thing. FTX had no board of directors. Every single investor that opted into that construct earned their $0 outcome. You can't blame Sam. Or Binance. Just yourself. You made a bad decision.
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…
🚨 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.
FTX has said that they have been hacked and all the money is gone. Insiders claim that they do not know where the money is going. Could also be bogus lies. In any case, the sky is falling https://twitter.com/...
FTX is neither Enron nor Lehman. It's MF Global. If there is a party who is responsible for prop trading and who is also able to authorise movement of client funds, you are putting temptation in the way. Funds segregation and front office/back office split are hard won lessons.
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…
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/...
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 - 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.
@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.
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/...
1/ @AlamedaResearch and @FTX_Official Ventures had access to nearly every crypto round. Our database showed 255 companies. Here it is. https://twitter.com/...
In retrospect it's really wild how normalized it was for people and investors to give huge sums of money to random people they met on Discord because “wagmi”. DAOs and fly-by-night crypto exchanges are the Pets .com sock puppet of this crash. https://twitter.com/...
19/ If the startup you work at is headquartered in a Caribbean tax haven,🚩🚩🚩 🚩🚩🚩🚩 The Bahamas. The British Virgin Islands. Dominica. Nevis. Anguilla. Costa Rica. Belize. Barbados. https://www.investopedia.com/ ... https://twitter.com/...
@_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 …
A lot of people talking about what crypto could have been if it wasn't for a bunch of scammers & fools. This completely misses the point: the only function of cryptocurrency is to separate fools from their money and give it to scammers. There has never been any other purpose.
“Bankrupt cryptocurrency exchange FTX is probing a potential hack and asked customers to stay off the FTX website” Man, this story is like watching a multi-car pileup happen before our eyes... https://www.wsj.com/...
The irony of “not your keys, not your coins” being a core tenant of the crypto community while many of the users have their money on centralized exchanges...smh https://twitter.com/...
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…
This week's events will be used by some to paint web3 as the “wild west.” In reality, these events, like prior excessive financial risk-taking collapses, are instances of wrongdoing that were preventable. We have to stop this from happening again.
“FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans,” wrote an account administrator in the FTX Support Telegram chat. https://www.coindesk.com/...
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.
This is absurd. We can't blame Sam? For lending customers' investments to his trading platform and not telling anyone? Everyone was just supposed to magically know that this thing was a house of cards? https://twitter.com/...
FTX going bankrupt brings huge damage to other crypto companies. I'm told a crypto lending unicorn is expected to shut down as soon as Monday. No one working any more - including customer support. Leadership advising employees to prepare CVs. I assume more will follow.
After this whole FTX mess, I think someone really needs to invent a radically transparent electronic ledger for tracking transactions. If done right, it could change how we buy and track all kinds of things.
I think most people have the SBF/FTX narrative backwards. Not a govt operation, but a team of aggressive fraudsters that wanted to become a govt endorsed/regulated entity. They were well positioned to succeed, but fell short bc ponzi got exposed. Will have more on in coming days.
Can't believe I misjudged FTX/Sam in the way I did. Apologies to everyone that trusted them more than they should've because of my faith in them. Tried and trying hard to dodge all scammers, fell for one of the biggest out there . Just sad really, hard to trust anyone anymore
Some think the FTX contagion fear is overblown. But when the person who lit the match to expose the ugly truths tells you to expect more pain, you should expect more pain.
FYI, those crypto boosters arguing the problem with FTX was its centralized status—and the answer is to jump to DeFi (decentralized finance) where the movement of crypto assets relies on the code “protocol” not people-YOU HAVE BEEN WARNED. Massive fraud there too. DOJ report http…
The lesson for the tech industry in the FTX saga should not be that people were “duped”. There was a company operating out of the Bahamas, running Super Bowl commercials, with like 12 engineers, that allows people to day trade fake things. It was all there.
Fascinating week No red wave Elon gets clowned FTX blows up After 3yr of nothing making sense, and the absurd reigning supreme, this week was absurd exactly b/c logic + common sense prevailed For 3 yrs you'd be like this is dumb this shouldn't work. But it did Until this week
After this week's events, I'm more bullish than ever about the long-term outlook for DeFi. It just shows how much we need something that is completely decentralized without any middlemen that can f*ck it up entirely (ref. FTX).
UPDATE on FTX Hack: There are rumors that Kraken has found the FTX attacker. Credible sources are sharing it seems more likely to be a whitehat/blackhat group. The hacker is not yet confirmed. We want to crowdsource the search. Posting block explorer links in the next tweet:
Have complicated and in some cases conspiratorial threads. But isn't this most likely explanation? They were overlevered, illiquid and suffered losses. Thought they could trade their way out of it or buy time to make it whole. Not at all an excuse. But isn't it most likely? https…
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/...
FTX and https://ftx.us/ weren't hacked. This had to be a inside job by SBF and his crew. They played this entire industry and the ripple effects haven't been felt yet.
Tweets that say “FTX Fraud Bad but If You Building In Crypto and Not Fraud Here My Calendly Link” is what counts as deep introspection in venture capital
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…
I guess what fascinates me about these YouTube stars is how insanely annoying they are - I'm sure it's not by nature, it's just what the algos have shaped them to be. This is what people want to watch. It's so grim and hopeless. https://twitter.com/...
To show my commitment, I'm offering an unprecedented, one-time-only 70% off discount on my digital Bored Sam Bankman-Fried portraits. Offer expires at midnight tonight.
FTX hacker is very likely an inexperienced insider. Kraken was also used throughout the hack to offload funds. According to @MarioNawfal. Kraken CSO said that the identity of the hacker is already known. https://twitter.com/... https://twitter.com/...
I don't know how accurate the below is. I expect the biggest impact will be on companies which entrusted either their treasuries, or their customer funds with FTX. Given FTX was seen as a stable exchange (despite the poor regulation), likely lots of crypto startups used them. htt…
Whenever someone says a billionaire is humble because they drive a Corolla and wear cheap looking clothes, my response is to show me where they live. It's never disappointed. https://twitter.com/...
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/...
“Big advocate for Sam, because he has two parents who are compliance lawyers. If there's ever a place I can be that I'm not going to get in trouble, it's going to be at FTX.” https://twitter.com/...
🚨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!
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/...
Everyone is jumping ship and trying to steal a piece. Swaps are happening into DAI since can't be stopped. Personally shorting assets with 8 figure holdings. Currently have positions on $LINK , $UNI, $AAVE. https://twitter.com/...
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/...
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 🥲
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.”
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?
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.”
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.
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.
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 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.
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)
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/...
$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…
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
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.
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/...
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/...
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…
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/...
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.
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/...
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…
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
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
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/...
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 🍿
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/...
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.
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...
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...
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/...
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.
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...
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?
$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/...
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.
@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.)
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??
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/...
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.
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/...
#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/...
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
@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…
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…
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.
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.
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.
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/...
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.
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.
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/...
@_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/...
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/...
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.
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.
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…
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
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
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…
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.
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/...
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.
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…
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/...
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/...
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
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
@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/...
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/...
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/...
[Thread] FTX's former head of institutional sales looks at FTX's balance sheet and its options, including bankruptcy or issuing a token, and their pros and cons