Cryptocurrencies
US Probes How $372 Million Vanished in Hack After FTX Bankruptcy
- DOJ tracking hacker, frozen assets stolen from FTX: source
- Assets were siphoned from FTX when it filed for bankruptcy
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Federal prosecutors are investigating an alleged cybercrime that drained more than $370 million out of FTX just hours after the cryptocurrency exchange filed for bankruptcy last month.
The Department of Justice has launched a criminal probe into the stolen assets that is separate from the fraud case against FTX co-founder Sam Bankman-Fried, according to a person familiar with the case who asked not to be identified as the investigations are still ongoing. US authorities have managed to freeze some of the stolen funds, the person confirmed. However the frozen assets only represent a fraction of the entire loot.