FTX Says `Unauthorized` Transfers Have Been Routed To Other Exchanges

Beleaguered crypto exchange FTX said unauthorized fund transfers from FTX Global are being sent to other exchanges via crypto wallets. 

"Exchanges should be aware that certain funds transferred from FTX Global and related debtors without authorization on 11/11/22 are being transferred to them through intermediate wallets," it said on Sunday via Twitter. "Exchanges should take all measures to secure these funds to be returned to the bankruptcy estate."

 Blockchain research firm Chainalyasis said that funds stolen from FTX are on the move and warned exchanges to be on alert in case a hacker tries to cash out.

It did not indicate which exchanges were receiving the funds nor the amount. 

This came after news earlier on Sunday that a purported drainer of FTX had cashed out in bitcoin after holding more than $300 million in ether. 

The identity of the FTX drainer remains unknown. While many say a hacker was able to drain the funds from the embattled exchange — which has filed for Chapter 11 bankruptcy protection — others speculate that the suspicious outflow of funds may be an inside job. 

Source: theblock.co