On the night of November 11, it was discovered that Multiple FTX-linked wallet addresses were transferring millions of dollars worth of crypto without official noticewhich unleashed speculation ranging from the initiation of FTX’s bankruptcy proceedings to the involvement of hackers. Within a few hours, FTX confirmed on Telegram that the fund transfers were part of an ongoing hack.
Following FTX’s confirmation on Telegram of the hack, as shown in the image above, Tether proactively blacklisted $31.4 million worth of USDT tokens tied to the transactions. What he pointed According to blockchain researcher ZachXBT, the blacklisted USDT tokens were made up of 3.9 million USDT in Avalanche (AVAX) and 27.5 million USDT in Solana (SOL).
FTX meltdown/ransack being tracked in real-time on Twitter
— Elon Musk (@elonmusk) November 12, 2022
Follow the collapse/looting of FTX in real time on Twitter.
The billionaire businessman Elon Muskwhich recently bought Twitter in hopes of unleashing the full potential of the platform, acknowledged Twitter’s contribution in tracking FTX events in real time.
By blacklisting the allegedly stolen USDT tokens, Tether disarmed the hackers so that they could not divert the assets to another account or exchange them for other cryptocurrencies.. As part of the solution, Tether can burn the blacklisted USDT and reissue equal amounts of the asset to the original owner.
Nevertheless, the hacker also stole other crypto assets, including Ethereum (ETH) Chainlink (LINK) and USDP, which have yet to see intervention from the respective ecosystems.
In recent days, major cryptocurrency exchanges including Binance, OKX, Kucoin, and Crypto.com have pledged to share their proof of reserve to regain investor confidence..
taking the lead, Bitfinex CTO Paolo Ardoino shared 135 online and offline wallet addresses revealing Bitfinex proof of reserves.
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Proof of reserves for @bitfinex
Here is the list of the main Bitfinex walletshttps://t.co/TaS7Vy9qfPFinex holds:
– 204338.17967717 BTC (among top bitcoin holders)
– 2018.5L-BTC (Liquid)
– ~1000 BTC on LN ⚡️
– 1225600 ETH (among top ethereum holders)
…– Paolo Ardoino (@paoloardoino) November 11, 2022
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Proof of @bitfinex reserves
This is the list of top Bitfinex walletsFinex has:
– 204,338.17967717 BTC (among major bitcoin holders)
– 2,018.5 L-BTC (liquid)
– ~1,000 BTC in LN ⚡️
– 1,225,600 ETH (among major ethereum holders)
Although the move was welcomed by investors, some community members pointed out the lack of Bitfinex liability figures, making the data incomplete for review.
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