Bankrupt FTX faces prison a prison Investigation within the Bahamas so Financial police within the Bahamas the place Sam binkman Freed's FTX is headquartered Are working with the native Securities Regulator there to investigative any Criminal conduct has occurred and if the FTX story couldn't get any extra Shocking FTX was hacked Friday night time With outflows exceeding 600 million Dollars FTX officers seem to verify Rumors of a hack on telegram instructing Users to delete FTX apps and keep away from its Website and becoming a member of me now with extra is Hackens CEO Dima buterin Dima thanks So a lot for becoming a member of us possibly you can Start off by strolling us by what you Know about this hack as a result of there have been Three wallets apparently becoming a member of FTX Funds and a few belong to FTX and one might Have been unauthorized Um howdy everyone sure I wouldn't say That this can be a hack to be trustworthy Um as a result of Um like uh so many uh unusual issues About this uh funds being drained uh at Friday night time uh you understand so just a few issues That I wish to uh underline so first of All Um uh there are uh uh there are Different blockchains concerned uh Through the to this that means that Probably the attacker or Insider I might Say Insider had the entry to all of the
Storages which he uh mainly exploded Uh second factor is that we've Investigated very unusual Um actions on Usdt on Trump uh what precisely occurred So Um the uh this Insider was making an attempt to Send uh use the Drone usdt from his Account to a different one uh outcomes thrown Um coin that's used as a gasoline And he made few uh uh makes an attempt then he Realized that he's lacking Trump and Then he made a silly mistake uh he took His he opened his Kraken account Cracking think about and he made the Transaction of 500 Tron to his uh to Compromise uh Throne account after which uh Then he made one other try and make a Transaction after which he succeeded uh we Exported this we instantly uh notified Our associates at Kraken safety workforce and They have they've data who's This man and the third factor yeah sure so You know you understand the identification of the Hacker and and I suppose Kraken does now As properly and also you consider it's an inside Job Yes We don't have it yeah Does this hacker uh or Insider have a Three uh letter uh nickname It doesn't matter uh you understand like uh if It's uh this man or his uh fiancee or uh Some different guys who acquired entry to
Private Keys uh in any case it's simply Another uh signal of uh very poor uh Private Keys administration inside FTX and How about this The Tron that was uh taken out of the And that's finally what gave the thought That within the identification I assume based mostly on The incontrovertible fact that they used their uh Kraken Account to to you to get Tron to pay for The gasoline Um Was that Sam bankman Freed's account Look uh that is uh you understand that is Confidential data and just lately Um Um solely like um citizen Yes in fact so I'm not allowed to say This data uh what I wish to say Is that This seems like uh he he was making an attempt to Um you understand fulfill his promise that's Uh he doesn't wish to be a billionaire And he desires to present away all the cash That she was You know that's his fortune so Um what had been the ballots of Tron how Much Tron was in that preliminary account Over at Kraken can we do we all know the the Wallet measurement uh that was getting used to to Pay for the gasoline charges Uh no that is this data is Obviously non-public and this data Is not public but
Right now we've data that's Kraken has blocked all of the uh SBF FTX Executives and the Alameda Executives And company accounts and so they they Stopped the persistent with trolls And what authorities if any are you Working with Um proper now we might tightly cooperate With uh monitoring on this concern and so They they're made the principle guys to Prove who is that this Insider is When that may be revealed Of course it's gonna be revealed it's Just a matter of time In any case These funds are usually not even Close to be sufficient to cowl all of the Losses of particular person buyers and customers Of FTX Was it was the tromb stability sufficient to Give this man a a lot wanted haircut In all seriousness I I you understand the Folks at tether additionally uh cooperated at my Understanding and so they they froze uh the The usdt on Tron right they're are They they blacklisted it sure sure they They uh uh their inner uh procedures Are fairly properly designed and so they have Blacklisted them very applicable There was a there was all the time this uh Story there was a narrative going round for Some time Um the place it was estimated that uh FTX And Alameda and and a few the Conglomeration of the 2 uh managed
About a 3rd of all of the tether out There usdt Um has tether has tether are you aware if They're additionally placing uh the brakes on Other uh usdt uh going out or into Either FTX Alameda or or they've simply Focused on this one account Look I feel it's vital to Understand what's usdt so usdt is A legal responsibility of tether To replay Um Shared cash if the proprietor of usdt desires To give again them to influence one another And so it doesn't from the safety Point of view Tether doesn't care the place all this USD Chip can circulated his foremost job is to Have his personal custody very properly designed And in place in order that when somebody will Want to present take Fiat from the USD they Are capable of repay him instantly so in This course like a climate FTX was Controlling like big quantity of UTC or Any different trade it doesn't put it Doesn't give extra danger to the Stability and insolvency of tether