In a letter to the judge published Saturday, prosecutors laid out plans to call customers, investors, and co-conspirators to testify in next week’s trial of Sam Bankman-Fried. The former CEO of cryptocurrency exchange FTX faces charges of fraud and conspiracy for allegedly misusing customer funds. Investors and Customers to Testify in Fraud Trial of Crypto…
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The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations. FTX Accountant Prager Metis Charged With Auditor Rules Violations The U.S. securities regulator has charged…
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According to an on-chain report on Saturday, September 30, an address associated with the FTX exploiter became active for the first time in 10 months. As earlier reported, some 5,000 ETH (equivalent to $8.2 million) was transferred from the flagged address (identified as 0x3e9) to new addresses on Saturday. However, in the latest development, blockchain…
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Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain router and Railgun contract. According to recent information from Spot On Chain, an address linked to the FTX exploit, identified as 0x3e9, has conducted transfers exceeding 10,000 ETH, valued at more than $17.1 million, across five different…
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The DOJ intends to highlight the experiences of retail and institutional clients who entrusted substantial assets to FTX. The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submitted a letter motion in…
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Per onchain evidence, the culprit dubbed the “FTX drainer” shifted 5,000 ethereum valued at approximately $8 million, gauged by today’s exchange rates. This marked the first movement of the funds in nearly a year, with the malefactor channeling the ether into the decentralized finance (defi) platforms Railgun and Thorchain Router. ‘FTX Drainer’ Diverts $8M in…
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The data reveals two transactions where the exploiter moved 2,500 ETH, each valued at $4 million. Almost a year after the FTX hack of $600 million in tokens, on-chain data revealed recent activity in the perpetrator’s wallet, identified as 0x3e957, on Saturday, Sept. 30, 2023. This is occurring closely to the launch of Ethereum-based ETF…
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A calendar has been set for the upcoming trial of United States v. Bankman-Fried, with jury selection beginning October 3, 2023. The FTX founder, Sam Bankman-Fried, was denied temporary release from prison but will be allowed to use an “air-gapped,” internet-disabled laptop for note-taking in the courtroom. In the coming month and a half, the…
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Bankrupt crypto exchange FTX has been approved to liquidate nearly $3.4 billion worth of crypto assets, creating a sense of panic among crypto investors, but experts say the phased liquidation schedule will ensure market stability. The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court…
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Former FTX CEO Sam Bankman-Fried will remain in jail throughout his trial utnil mid-November after the District Judge Lewis Kaplan denied his temporary release to prepare for the trial. The trial, scheduled to run from October 4th until November 9th, comes after Judge Kaplan denied a motion for Bankman-Fried’s temporary release during a hearing on…
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