“More than $600 million was siphoned from FTX’s crypto wallets late Friday.”
FTX filed for bankruptcy on Friday, and that same night more than $600 million walked out of its wallets. Customers logged in to $0 balances. The company’s explanation was a move to cold storage after “unauthorized transactions.” Either the exchange got robbed on its worst day or somebody inside had the keys. Neither answer gets the customers their money back.