FTX returned liquid funds for seven billion

FTX crypto exchange managers have been replaced. The new team was able to make significant progress to ensure the security of user assets. Now she has been able to return some of them for $ 7 billion.

What is known about the refund

The exchange owed customers more than $8.5 billion when it filed for insolvency. Most of the deficit — over 6 billion is made up of ordinary currencies and stable coins that the crypto exchange has illegally appropriated. This is reported in the report.

The current SEO of the site, John Ray, reported in more detail about the frauds. He claims that employees of the crypto exchange lied to banking organizations that they use the accounts of a subsidiary of Alameda research to transfer funds from users of the crypto platform.

In 2020, some financial organizations began to doubt the actions of the site, and therefore rejected operations. At the same time, SEO added that FTX created a reputation as a platform that focuses on customer needs and is the leader of the digital era. However, it was a mirage.

One of the main managers demanded that an employee of a subsidiary company lie to a representative of a banking organization. Then he said that users periodically confuse the main site with the subsidiary. However, the transactions carried out are used to settle transactions in the latter.

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