Former Top FTX Executive Testifies He Knew $8B of Customer Money Was Missing

2023-10-17 17:32

Nishad Singh, the latest member of Sam Bankman-Fried’s inner circle to testify, said his admiration for SBF turned to “shame” on discovering FTX execs enriched themselves with customer funds.

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customer ftx admiration sbf funds testify said

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Источник: coindesk.com

customer ftx → Результатов: 126

FTX Bankruptcy Advisers Accused Of Sharing Customer Data With FBI

In a recent development, it has come to light that advisers of bankrupt crypto exchange FTX have provided federal law enforcement agencies across the United States with customer account information and transaction records.

2023-11-4 23:00
customer ftx advisers enforcement agencies law federal

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FTX trial: FTX used billions in customer funds for Binance stake buyback

FTX is accused of using customer deposits to repurchase Binance stake. An accounting professor hired by the US Department of Justice reveals over a billion dollars came from customer funds for the share buyback.

2023-10-19 12:16	FTX
customer ftx binance stake buyback funds department

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FTX eyes return of $9 billion in customer funds through settlement proposal

Bankrupt FTX might claw back 15% from customers with claims over $250,000 from the platform nine days before its bankruptcy by requiring them to reduce claims, per an Oct. 16 statement. FTX is proposing a settlement to customers who withdrew more money from their accounts than they deposited in the 9 days before FTX filed […] The post FTX eyes return of $9 billion in customer funds through settlement proposal appeared first on CryptoSlate.

2023-10-17 13:00	FTX
ftx settlement return eyes claims customers billion

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FTX Plans to Return 90% of Customer Funds, But There's a Catch

An amended proposal released early Tuesday will be filed by the FTX Debtors by mid-December if approved.

2023-10-17 09:32	sam bankman-fried
ftx tuesday early approved filed mid-december debtors

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SBF Trial – Nishad Singh kicks off week 3 by confessing to stealing customer funds for straw political donations

The third week of SBF’s trial has kicked off with the prosecution bringing former FTX engineering director Nishad Singh, another key member of the exchange’s leadership and SBF’s inner circle.

2023-10-17 03:38	legal
sbf off week trial nishad singh engineering

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FTX founder Sam Bankman-Fried’s trial day 9: Recap

The third week of FTX founder Sam Bankman-Fried’s historic trial begins as a former FTX customer and former Chief Engineer Nishad Singh takes the stand.

2023-10-17 00:54	sam bankman-fried
ftx former trial bankman-fried founder sam engineer

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SBF trial day 9: FTX’s founder spent $1.3b on celebrity endorsements

Nishad Singh, former Alameda and FTX chief developer testified to $1.3 billion of customer funds invested in building Sam Bankman-Fried’s social capital and public image.

2023-10-17 00:44	sam bankman-fried
ftx funds invested customer billion building public

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LIVE: Former Top FTX Executive Testifies He Knew $8B of Customer Money Was Missing

Nishad Singh is the latest member of Sam Bankman-Fried’s inner circle to take the stand after pleading guilty.

2023-10-16 17:32	top news
bankman-fried sam member latest inner circle pleading

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SBF Trial: What Did FTX’s Terms of Service Say About Customer Funds?

A filing last week suggests Sam Bankman-Fried's defense wants to get back to the argument that Bankman-Fried did not technically commit wire fraud because FTX’s terms of service were worded in such a way that there's no case to argue funds were misappropriated.

2023-10-16 13:00
service bankman-fried funds terms did ftx fraud

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Secret Alameda recording reveals exact moment staff learned about FTX deposits

A 75-minute recording obtained by Cointelegraph shows the exact moment former Alameda Research CEO Caroline Ellison told employees about their use of FTX customer deposits.

2023-10-13 09:00
moment ftx deposits exact recording alameda told

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SBF trial day 7: FTX lost $100m in Terra/UST crash

Defense attorney Mark Cohen cross-examined former Alameda Research CEO Caroline Ellison after the witness said Sam Bankman-Fried cajoled her into making misleading social media statements and ordered loan repayments funded with stolen customer crypto.

2023-10-13 02:49	sam bankman-fried
making misleading social her cajoled witness said

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SBF Trial Day 7 – Audio recordings reveal Ellison told Alameda employees about misuse of customer funds days before collapse

After an intense three days on the witness stand, Caroline Ellison, a former top deputy to FTX founder Sam Bankman-Fried (SBF), wrapped up her testimony on Oct. 12. The day was characterized by emotional revelations, critical audio recordings, and frequent judicial interventions.

2023-10-13 02:34	legal
days ellison sbf day audio recordings her

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Genesis Halts Withdrawals After Court Orders to Pay $175M to FTX

Genesis Global Trading navigates through legal storms, settling a $175 million lawsuit with FTX, while pausing customer withdrawals, unveiling the intricate fiscal maneuvers within the crypto industry.

2023-10-13 19:52	FTX News
genesis ftx withdrawals pausing customer lawsuit unveiling

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Alameda CEO Ellison reveals all this about SBF at the latest hearing

Alameda's CEO Caroline Ellison testified against SBF in the hearing on 10 October Ellison admitted that FTX's customer funds were used to buy back Binance's stake in the exchange The behind-The post Alameda CEO Ellison reveals all this about SBF at the latest hearing appeared first on AMBCrypto.

2023-10-11 03:00	News
ellison hearing alameda ceo sbf all reveals

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FTX founder Sam Bankman-Fried’s trial day 5: Recap

Bankman-Fried's girlfriend and Alameda's ex-CEO took the stand on the second week of the trial, revealing that SBF used customer funds for political lobbying.

2023-10-11 00:58	sam bankman-fried
trial bankman-fried revealing week sbf customer political

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SBF ‘Directed Me’ to Commit Fraud: ex-Alameda CEO Caroline Ellison

Former Alameda CEO Caroline Ellison blames SBF for $14B FTX fraud after guilty plea, admits Alameda siphoned customer funds on his orders.

2023-10-11 21:30	News
caroline ellison alameda sbf fraud ceo orders

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Key Points From the Sam Bankman-Fried Trial's First Week

It’s been less than a week since the federal government’s trial against FTX’s Sam Bankman-Fried began, but we’ve already heard from an FTX co-founder, a former developer, a customer and an investor.

2023-10-11 16:30
trial ftx week bankman-fried sam heard customer

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FTX adviser rescued $500m during November 2022 hack

Kumanan Ramanathan who worked for a legal firm consulting for Sam Bankman-Fried’s crypto exchange was able to safeguard up to $500 million of customer funds on the day hackers attacked FTX.

2023-10-9 20:18	sam bankman-fried
ftx 500 safeguard able million day hackers

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Here’s How Sam Bankman-Fried Allegedly Used Customer Funds On Alameda Research

On day four of the criminal trial of former FTX CEO Sam Bankman-Fried, Gary Wang, who co-founded the now-bankrupt crypto exchange and served as its former chief technology officer (CTO), testified. During his testimony, the former FTX executive revealed details about the connection between the cryptocurrency exchange and Alameda Research.

2023-10-8 18:00	sam bankman-fried
former alameda research ftx exchange sam bankman-fried

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Here’s How Sam Bankman-Fried Allegedly Used Customer Funds On Alameda Research

Gary Wang, co-founder and former chief technology officer (CTO) of the now-bankrupt FTX exchange, again took the stand on day four of former CEO Sam Bankman-Fried’s criminal trial. The former FTX executive disclosed the relationship between the cryptocurrency exchange and Alameda Research.

2023-10-7 14:30	sam bankman-fried
former alameda research exchange bankman-fried ftx sam

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Sam Bankman-Fried goes on trial: A week in review

The trial of former FTX CEO Sam Bankman-Fried started on Oct. 3. Four witnesses explained to jurors how $8 billion in customer funds went missing.

2023-10-7 03:08	Bankruptcy
sam trial bankman-fried jurors explained funds missing

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FTX CTO Testifies Against SBF, Admits Alameda Used Customer Funds

FTX CTO Gary Wang admits helping SBF defraud customers by secretly giving Alameda access to deposits, leading to FTX's bankruptcy.

2023-10-7 22:12	News
ftx admits sbf alameda cto secretly giving

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FTX deposits went to account controlled by Alameda for months, Yedidia testifies

Yedidia was involved in writing a buggy program to automate FTX customer deposits and withdrawals and was concerned by the size of the Alameda Research liability on the FTX books.

2023-10-6 00:33
ftx alameda yedidia deposits concerned withdrawals research

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College roommate talked to Sam Bankman-Fried about FTX’s $8B hole on a paddle tennis court: Trial

Adam Yedidia, a former developer at FTX, testified regarding his knowledge of the crypto exchange’s use of funds, claiming “Alameda had used customer deposits to pay its loans.”

2023-10-6 18:57	Law
ftx exchange use funds knowledge claiming crypto

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Report: FTX employees were aware of Alameda’s backdoor code

Alameda Research used a secret backdoor in FTX to withdraw billions of dollars of customer funds, and some of the exchange's employees were aware

2023-10-5 15:07
alameda aware backdoor ftx employees funds dollars

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Why SBF cannot fall back on U.S.' lack of crypto regulation

The prosecution has charged FTX's SBF for the misappropriation of customer assets. The action doesn’t become legal due to the lack of crypto regulation, the DoJ claimed. The trial againstThe post Why SBF cannot fall back on U.

2023-10-4 15:30	News
sbf crypto lack regulation cannot fall back

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Sam Bankman-Fried and the spectacular collapse of FTX: Here's a rundown

SBF was accused of misappropriating customer funds in FTX's custody. Experts noted that the chances of SBF's conviction were high. Once seen as the face of cryptocurrencies, disgraced entrepThe post Sam Bankman-Fried and the spectacular collapse of FTX: Here's a rundown appeared first on AMBCrypto.

2023-10-3 16:00	News
ftx rundown sbf sam collapse spectacular bankman-fried

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FTX Sues Sam Bankman Fried’s Parents To Recover Millions In ‘Misappropriated’ Funds

Bankrupt crypto exchange FTX has lodged legal action against founder and former CEO Sam Bankman-Fried's parents, Joseph Bankman and Barbara Fried, alleging that they misappropriated millions of dollars of customer funds through their involvement in the exchange’s business.

2023-9-20 00:35	FTX
misappropriated exchange ftx millions funds bankman fried

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FTX resumes claims process after addressing cyber breach

FTX confirmed that the breach affected none of its systems. The exchange launched the customer claims portal on 11 July, but it inexplicably went offline within an hour Bankrupt cryptocurrenThe post FTX resumes claims process after addressing cyber breach appeared first on AMBCrypto.

2023-9-18 14:00	News
ftx breach claims process resumes cyber addressing

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FTX restores customer claims portal after cyber breach

FTX and FTX US are currently facing lawsuits involving claims worth $16 billion, with 10% already agreed upon. Additionally, there are 2,300 non-customer claims worth $65 billion.

2023-9-18 18:27	sam bankman-fried
ftx claims billion worth upon non-customer additionally

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FTX reactivates customer claim portal after resolving cybersecurity breach

Defunct cryptocurrency exchange FTX announced the reopening of its customer claims portal, which was abruptly shut down due to a cybersecurity attack that compromised non-sensitive data. The exchange stated that no critical systems were compromised in the cyberattack, which targeted its designated bankruptcy claims agent Kroll.

2023-9-18 15:50	Hacks
ftx exchange claims cybersecurity compromised customer portal

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FTX bolsters claims portal security measures following cyber breach

Following the cyber breach of non-sensitive data, bankrupt cryptocurrency exchange FTX has reactivated account access to its customer claims portal.

2023-9-18 05:08
breach ftx cyber following portal claims customer

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FTX’s bankruptcy estate manages $7b in assets, further explores relaunch plans

FTX's bankruptcy estate manages a $7 billion portfolio that includes Solana, Bitcoin, and the Bahamas real estate, as court filings reveal a potential platform relaunch amidst staggering customer claims.

2023-9-12 01:32	solana
estate ftx relaunch manages bankruptcy court filings

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Ex-FTX Executive to Plead Guilty to Criminal Charges: Huge Amount Of Stolen Customer Funds Donated to US Politicians

An ex-executive of the FTX cryptocurrency exchange is set to plead guilty to criminal charges. The charges include the alleged donation of $24 million of stolen customer funds to US politicians. This development adds another layer of complexity to the ongoing trials surrounding the collapse of FTX and its founder, Sam Bankman-Fried.

2023-9-7 17:54	Latest News
charges funds politicians ftx customer stolen criminal

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FTX brass spent more than $2.5m in customer funds on a luxury yacht

The yacht may have been a parting gift for Sam Trabucco, who resigned from Alameda in August 2022.

2023-9-3 21:36	sam bankman-fried
yacht sam 2022 gift parting trabucco alameda

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Kroll Data Breach Impacts FTX, Claimant Information Compromised

Kroll, the claims agent working on the bankruptcy case for FTX, a once-prominent crypto exchange, has fallen victim to a cybersecurity breach. The breach, reported on Friday, has led to the compromise of non-sensitive customer data belonging to specific claimants.

2023-8-26 16:00
breach data kroll ftx led friday reported

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FTX reports security breach involving bankruptcy agent Kroll

FTX has announced a cybersecurity breach involving its bankruptcy case claims agent, Kroll, exposing limited, non-sensitive customer data of specific claimants. On Aug. 25, the struggling crypto exchange used the X platform to notify customers, creditors, and the public about…

2023-8-25 14:27	security
kroll ftx bankruptcy agent involving breach exchange

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FTX, BlockFi Customers Let Down Once Again Due to Kroll Data Breach

Amid bankruptcy proceedings, FTX reveals a data breach via its claims agent, Kroll, leading to the exposure of specific customer data.

2023-8-26 11:38	News
data kroll breach ftx claims agent specific

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FTX, BlockFi, Genesis Customer Data Compromised in Kroll Hack

A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies.

2023-8-26 10:44
kroll data customer claim gathers companies bankrupt

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FTX, BlockFi's Customer Data Compromised in Kroll Hack

A ‘cybersecurity incident’ affected Kroll, which gathers customer claim data on behalf of bankrupt companies.

2023-8-25 10:44
kroll customer data gathers claim behalf companies

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FTX Claimant Data Breach Triggers ‘High Alert’ Warning

The claims administrator for bankrupt cryptocurrency exchange FTX, Kroll, has suffered a cybersecurity breach exposing non-sensitive customer data. FTX assured that its own systems were unaffected and no passwords were compromised.

2023-8-25 08:29	FTX News
ftx breach data assured customer non-sensitive exposing

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Sam Bankman-Fried Pleads Not Guilty to Latest Indictment

FTX founder Sam Bankman-Fried appeared in court Tuesday to be arraigned after the latest indictment accused him of using customer funds for everything from buying personal real estate to political donations.

2023-8-22 16:21	top news
latest indictment bankman-fried sam funds customer everything

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FTX’s former law firm hit with lawsuit alleging it set up shadowy entities

The suit claims “shadowy entities” set up by Fenwick & West were allegedly used by FTX and former top executives to misappropriate customer funds.

2023-8-9 08:49
ftx shadowy former set entities allegedly used

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FTX To Eliminate FTT Token, Suggests Creditors Be Paid In Cash

In a recent development, the bankrupt FTX crypto exchange has announced a draft creditor-repayment plan as part of its ongoing bankruptcy restructuring procedure. The freshly revamped exchange intends on clearing out its digital token FTT while settling customer claims in cash.

2023-8-1 15:00
cash exchange ftx ftt token ongoing revamped

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FTX customer claims portal remains offline hours after launch

The customer claims portal for insolvent cryptocurrency exchange, FTX, went offline shortly after its debut on July 10, leaving customers unable to make claims online

2023-7-12 19:29
claims ftx offline customer portal leaving july

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FTX Claims Portal Down After An Hour, Is All Hope Lost?

FTX, the insolvent cryptocurrency exchange, encountered a setback as its newly launched customer claims portal unexpectedly went offline shortly after its debut. The portal, aimed at facilitating the submission of proof-of-claims by FTX creditors, devolved into the realm of disappointment when users discovered it had gone dark after only an hour of operation. The sudden […]

2023-7-12 17:00
ftx portal hour claims realm devolved disappointment

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FTX Customers Have Until End-September to Submit Bankruptcy Claims

Former customers will receive an email containing a link to the Customer Claims Portal.

2023-6-30 11:48	Bankruptcy
claims customers email containing link customer receive

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FTX Accuses Former Top Officer Of Helping Sam Bankman-Fried Steal Customer Funds

According to a recent Bloomberg report, FTX Trading Ltd. , the bankrupt cryptocurrency exchange, is suing its former top compliance officer, Daniel Friedberg, accusing him of enabling the misuse of billions of dollars of customer funds by company founder and alleged fraudster Sam Bankman-Fried.

2023-6-28 21:00
customer funds ftx bankman-fried sam former officer

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FTX Executives Knew of $8.9 Billion in Missing Customer Funds in August 2022

The latest report from FTX and its debtors contains startling revelations. Namely that the disgraced crypto exchange knew of a more than $8 billion hole as far back as April 2022. The post FTX Executives Knew of $8.

2023-6-27 23:52	News
knew ftx 2022 billion executives exchange crypto

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FTX Founder Sam Bankman-Fried Appeals Fraud Conviction

FTX founder Sam Bankman-Fried filed to appeal his conviction and sentence for fraud and conspiracy charges on Thursday, hours before his deadline to do so.

Sam Bankman-Fried Sentenced to 25 Years in Prison

A federal judge sentenced FTX founder Sam Bankman-Fried to a quarter-century in prison Thursday.

U.S. Government's Legal Precedents Don't Support Lengthy Prison Term, Bankman-Fried's Defense Argues

Sam Bankman-Fried's lawyers have pushed back against the U.S. government's sentencing memo which makes the case for why it thinks the former FTX CEO should be handed a sentence in the range of 40-50 years, a court filing on Wednesday shows.

DOJ's Proposed 50-Year Sentence for Sam Bankman-Fried 'Disturbing,' FTX Founder's Lawyers Say

Sam Bankman-Fried's defense team pushed back against what it called the "disturbing" sentencing memorandum filed by the Department of Justice last week in a new letter, saying the DOJ was making the FTX founder out to be someone he was not.

House's McHenry Says He Won't Seek Reelection, Costing Crypto a Top Ally

Rep. Patrick McHenry (R-N.C.), arguably the crypto industry's most important advocate in the U.S. Congress, has decided not to seek another term, sources told Politico on Tuesday.

BlackRock's Ethereum ETF Plan Is Confirmed in Nasdaq Filing

The world's largest asset manager already made waves by seeking to list a bitcoin ETF

Sam Bankman-Fried Prosecutor Promises 'Handcuffs for All' Crypto Crooks

Damian Williams, the U.S. attorney for the powerful Southern District of New York, set an ominous warning following the conviction of former crypto kingpin Bankman-Fried.

2023-10-17 17:32

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