In the midst of the FTX meltdown, the once 2nd largest exchange appears to also be facing one of the largest crypto hacks of all times with more than $600M of various Ethereum tokens, Solana and Binance Smart Chain tokens being moved from FTX’s official wallets to decentralized exchanges like 1inch.

FTX official Telegram channel confirmed the hack with the message “FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans,”

Considering the timing, the speculations abound of an insider fraud, rather than a hack.

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For over 30 years, Marin Ivezic has been protecting financial services and critical infrastructure against cyber, financial crime, and regulatory risks. He previously held multiple interim CISO, CRO and technology leadership roles in Global 2000 companies. Since 2013 he has been advising institutions and regulators around the world on safe, secure and compliant adoption of crypto assets and other decentralized technologies.