FTX suffered a hack late Friday night, resulting in more than $600 million in digital assets leaving the exchange’s wallets in a flurry of withdrawals. FTX’s new CEO, John Ray acknowledged that the exchange had been “compromised,” and said that it was taking “precautionary steps…to mitigate damage upon observing unauthorized transactions.” Hacken found that one entity, which Budovin suspects to be an insider, siphoned about $400 million from the exchange.
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