More Than $1 Billion Customer Funds Goes Missing From FTX

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The post <strong>More Than $1 Billion Customer Funds Goes Missing From FTX</strong> appeared first on Coinpedia Fintech News

Reuters news media has claimed that nearly $1 billion client deposits are missing from the insolvent FTX exchange. Sources from FTX stated that the firm’s CEO, Sam Bankman-Fried has secretly transferred $10 billion customer funds from FTX to his another company Alameda Research. Among this $10 billion, $1 Billion is missing.

One of the sources asserted that the total amount that is missing could be nearly $1.7 billion. While the other sources claim that the amount is between $1 billion to $2 billion that is falling short. They further said that SBF has used backdoor in FTX’s bookkeeping system