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More Than $1 Billion Customer Funds Goes Missing From FTX

Author: Delma Wilson

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Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Reuters news media has claimed that nearly $1 billion client deposits are missing from the insolvent FTX exchange. Sources from FTX stated that the firm’s CEO, Sam Bankman-Fried has secretly transferred $10 billion customer funds from FTX to his another company Alameda Research. Among this $10 billion, $1 Billion is missing.

One of the sources asserted that the total amount that is missing could be nearly $1.7 billion. While the other sources claim that the amount is between $1 billion to $2 billion that is falling short. They further said that SBF has used backdoor in FTX’s bookkeeping system

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