FTX’s Desperate Night: A Billion-Dollar Crypto Heist Averted Amid Chaos

October 9, 2023.

FTX, once a leading cryptocurrency exchange valued at $32 billion, faced a catastrophic situation when it declared bankruptcy. Amid this crisis, unidentified thieves targeted the platform, stealing between $415 million and $432 million in cryptocurrency. WIRED reveals the intense night of FTX’s response, detailing how the new leadership, led by CEO John Ray III, worked urgently to limit the damage. The team, using Ledger devices and BitGo’s cold storage, managed to prevent what could have been a much larger heist. The article sheds light on the complexities and risks involved in securing digital assets during a crypto exchange crisis.

Image courtesy of Wired. Photograph: Casimiro / Alamy

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