Employees at FTX’s U.S. division found a backdoor in the crypto exchange’s systems.
The backdoor allowed Alameda Research to hold negative balances up to $65 billion using customer funds.
FTX co-founder Sam Bankman-Fried’s deputy, Nishad Singh, was informed but the issue was unresolved.
A group of employees at FTX’s U.S. division discovered a backdoor in the crypto exchange’s systems that gave its trading arm, Alameda Research, special privileges, the Wall Street Journal reported.
Citing people familiar with the matter, the WSJ said the employees came across code while examining FTX’s international platform that allowed Alameda to hold negative balances up to $65 billion using customer funds. This was not possible for other FTX users.
The team from crypto derivatives exchange LedgerX, acquired by FTX.US in 2021, reportedly alerted their boss about the backdoor in spring 2022. The issue was then raised with FTX co-founder Sam Bankman-Fried’s top deputy, Nishad Singh. But i
We współpracy z: https://thenewscrypto.com/ftx-employees-uncovered-backdoor-months-before-collapse-report/
