Your Honor, IDK Just days after the trial of ex-FTX CEO Sam Bankman-Fried began in early October, a bombshell Wall Street Journal report revealed that there was a mysterious "back door" in FTX's code allowing Alameda Research, the crypto exchange's closely-tied hedge fund, special access to FTX customer funds. Today, when Bankman-Fried — who, on […]
Employees at FTX, once a titan in the cryptocurrency exchange realm before its stunning collapse, uncovered a secretive backdoor used by Sam Bankman-Fried's Alameda Research to siphon billions of dollars, laying bare a complex web of alleged fraud and mismanagement that precipitated the platform’s dramatic collapse.
Months before FTX's house of cards came toppling down, some staffers found a so-called backdoor at Alameda allegedly used to withdraw billions of dollars worth of customer funds.
Special Treatment FTX employees stumbled upon a line of code that gave the company special privileges for moving crypto around quietly — and then one of them got fired. As the Wall Street Journal has discovered, employees at LedgerX, a smaller crypto firm that FTX purchased in 2021, found lines of code months before the exchange's […]