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Poor Security at FTX from Michael Tsai RSS feed.

Poor Security at FTX

Stacy Elliott: [John Ray III] wrote in Sunday’s court filing that FTX “kept virtually all crypto assets in hot wallets.” To underline his point, Ray mentioned the unauthorized transactions that drained $432 million worth of funds from the company’s wallets the day after it filed for bankruptcy on November 11.[…]Hot wallets are connected to the […]