Cryptocurrency Q&A
How did FTX steal money?
How did FTX steal money?
EchoPulse
Wed May 08 2024
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6 answers
1330
Could you elaborate on the methods employed by FTX to misappropriate funds? I'm curious to understand the specific mechanisms and strategies they used to carry out this alleged theft. Was it through complex financial maneuvers, or did they rely on more straightforward techniques? Did they target specific individuals or institutions, or was it a more widespread scheme? And how did they manage to evade detection for so long? I'm eager to gain a deeper understanding of this matter and appreciate your insights.
6 answers
Bianca
Thu May 09 2024
Alameda Research is a cryptocurrency trading firm headquartered in Hong Kong.
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henry_taylor_architect
Thu May 09 2024
The initial perception was that it was merely an accounting oversight, but the truth was far more devastating.
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Michele
Thu May 09 2024
Instead of being deposited in FTX, the funds were funneled into these Hong Kong-based accounts.
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Chiara
Thu May 09 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures trading, and digital wallets.
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JejuSunshineSoul
Thu May 09 2024
Customers and investors suffered significant losses, amounting to billions of dollars.
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