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FTX Is Looking For The Fund Lost During A Hacking Attack

To find billions of missing customers’ assets, FTX is hiring new experts and crypto-investigators. Finance-related researchers and engineers are currently working to locate the funds after attorneys claimed that the FTX possessions were stolen or lost.

A finance-related investigation team has reportedly been hired by the new management of the insolvent cryptocurrency trader FTX to find customer cryptocurrencies. The lost assets are worth a fortune.

The way to find the criminals

In order to identify and recover lost digital assets, a research company was hired to discover the track of the stolen possessions. Hackers stole more than $450 million in assets from the accounts possessed by the infamous trader.

The US Bankman-Fried stated in a November talk with crypto media reporter T. Fung, that he tried to identify the criminals no matter what.

On the ex-employee’s computer, the malware was either installed by the company worker or by someone else – and that was the cause for the possessions to be stolen.

In November when blockchain analysis companies like Chainalysis were hired as part of the proceedings.

An attorney claimed that a significant sum of possessions had been taken by criminals or simply lost from the platform.

The methods of money laundering

After the initial theft, on November 29, the hacker got into the OKX trader utilizing a money-laundering tool, which separates its possessions and turns them into little amounts.

They are later sent to lots of other crypto accounts. On November 11th, the hacker divided one hundred and eighty thousand Ethereum tokens among twelve newly created trading accounts in an attempt to hide the stolen money.

SBF, the infamous crypto-company’s previous CEO, also stated that he inadvertently confused client finance from his collapsed trading corporation and the related exchange company, Alameda.

As stated in the reports, the current leader of FTX has never seen corporate management fail so completely and lost its first insolvency filing in the course of the last forty years.

The new manager stated that SBF and his associates may have been exposed by other market players and utilized computer programs to hide the unauthorized usage of client finances.

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