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Elliptic Analysis Says $477 Million Stolen From FTX, ‘Accounts Drainer’ Becomes 35th Largest ETH Holder

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Three days ago, on Nov. 11, 2022, it was reported that FTX’s wallets saw unusual activities and FTX Telegram channel admins stressed that FTX was “hacked.” The same day, the new FTX CEO John Ray confirmed there were “unauthorized transactions.” A report by the blockchain intelligence firm Elliptic explains that out of “more than $663 … Read more

Report Says Alameda Research ‘Didn’t Trade Crypto,’ Speculators Think SBF’s Political Connections Let FTX Fly Under the Radar

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On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm Alameda Research shed … Read more

Maple Finance Lending Pool Delegate ‘Identified a Number of Key Weaknesses’ Tied to FTX’s Alameda Research

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According to a report from Orthogonal Credit, a delegate of Maple Finance’s lending pools, the firm decided “earlier this year” not to lend to Alameda Research, FTX’s quantitative trading firm. Orthogonal said through “due diligence” it “identified a number of key weaknesses” associated with Alameda. Orthogonal Credit Found ‘Key Weaknesses’ Tied to FTX’s Alameda Research … Read more