Sam Bankman-Fried Says FTX Hacker Could Be a Former Worker


Sam Bankman-Fried is once more making an attempt to clear the air.

In an interview with Tiffany Fong revealed Tuesday, the disgraced FTX founder and former CEO defined why FTX prioritized Bahamian withdrawals—and likewise mentioned he’s narrowed down who could be behind that shady $650 million “hack” the night time of the Chapter 11 chapter submitting.

“I’ve narrowed it down to love eight folks. I don’t know which one it was,” he mentioned, suggesting that it was both a former FTX worker or somebody who put in malware on a former worker’s laptop.

So far as how FTX ended up within the mess it presently finds itself in, Bankman-Fried, also called “SBF,” advised Fang that the collapse of his alternate’s token FTT led to a financial institution run not due to any margin calls straight, however due to a large sell-off pushed by concern.

Confronted with a liquidity disaster and compelled to confess that the alternate didn’t maintain one-to-one reserves of consumer funds, FTX froze withdrawals for all clients on November 9. The subsequent day, FTX introduced that Bahamian “regulators” ordered it to allow withdrawals for its residents. The Bahamian SEC later denied that regulators ever made such a requirement. In actuality, SBF advised Fong he was merely prioritizing Bahamian withdrawals as a result of “that’s the place I’m proper now.”

SBF claimed the withdrawals weren’t for insiders.

“It was vital to the alternate having the ability to have a future,” SBF mentioned of the choice. “You don’t want to be in a rustic with a whole lot of indignant folks in it.”

Whereas SBF seems to have prioritized customers in his nation of residence for what looks as if his personal security and his bankrupt firm’s “future,” he admitted it was a “shitty” factor to do.

“The pathway ahead for FTX concerned Bahamians not being pissed at it,” he mentioned.

FTX Attacker Nonetheless Owns Altcoins Value $338 Million

Within the interview, SBF additionally denied the allegations that he constructed a “again door” into FTX’s system to siphon $10 billion price of funds to sister firm Alameda Analysis. Bankman-Fried based crypto buying and selling agency Alameda in 2019 however then formally stepped away from day-to-day operations in 2021.

“I don’t even know the way to code,” Bankman-Fried mentioned. “I actually by no means opened the codebase for any of FTX.”

However earlier than Bankman-Fried misplaced entry to FTX’s programs, he mentioned he was “exploring” FTX’s “programs” to attempt to decide who moved the tons of of tens of millions of {dollars} from FTX’s accounts with out firm permission.

“I don’t know precisely who as a result of they shut off entry to the programs once I was midway via exploring it,” SBF mentioned.

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