Home Trading US investigates FTX hacking, and the $370 million stolen

US investigates FTX hacking, and the $370 million stolen

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FTX filed bankruptcy in November after the rapid collapse of the exchange following a liquidity crisis and a failed bailout attempt by Binance. Following the events, Bankman Fried was removed as CEO.

The founder of the exchange was accused of “fraud of epic proportions” and is facing criminal charges for defrauding investors.

Additionally, on Tuesday FTX customers filed a class action suit against the exchange and Bankman-Fried, seeking a declaration that the company’s holdings of digital assets belong to customers.

The complaint states that FTX had promised to seperate customer assets from company assets, but instead has misappropriated them.

The complaint stated that:

Customers should not be required to support secured or general unsecured creditors when filing bankruptcy to get a share in the diminished assets of Alameda or FTX.

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