‘Substantial amount’ of FTX’s assets stolen or missing — Bankruptcy counsel

‘Substantial amount’ of FTX’s assets stolen or missing — Bankruptcy counsel


James Bromley, a partner at law firm Sullivan & Cromwell representing debtors in FTX’s bankruptcy case in the District of Delaware, has said that assets at the firm continue to be at risk from cyberattacks.

In a livestream of FTX Trading’s bankruptcy proceedings on Nov. 22, Bromley said new FTX CEO John Ray III had laid out core objections aimed at getting the firm, remaining employees and funds through the controversial and public collapse. According to the FTX co-counsel, a core group of employees has continued to work at the exchange to ensure assets are secure and records maintained, but hackers have posed a threat since Nov. 11 when the company filed for Chapter 11.

“We’re not just talking about crypto assets, or cash assets, or physical

Trending: Mysterious 80-Foot Structure Unearthed By Hurricanes Near Famous Florida Beach

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend