FTX reportedly hacked as officials flag abnormal wallet activity

FTX reportedly hacked as officials flag abnormal wallet activity

Collapsed cryptocurrency exchange FTX reportedly faced a series of unauthorized transactions over the weekend, prompting several warnings from users and analysts against interacting with its mobile app or website. 

Wallets associated with FTX saw roughly $266.3 million worth of outflows on Nov. 11, according to analytics firm Nansen. FTX US, a separate entity operating in the United States, was reportedly drained of $73.4 million.

$266M has been withdrawn from FTX in the last 24 hours

$73M from FTX US pic.twitter.com/qoiroPSegq

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— Nansen (@nansen_ai) November 12, 2022

The magnitude of the alleged attack appears to have intensified overnight, with net outflows from FTX and FTX US totaling $659 million, according to Nansen data journalist Martin Lee. That represents roughly one-third of the wallets’ net outflows over the past seven days.

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