Bankman-Fried’s FTX Could Have Lost Over $1B Due to Lax Security Practices: Report

CoinDesk reported:

Executives scrambled to move over $1 billion worth of various assets to different storage devices as the exchange was getting drained of funds, ultimately managing to save the majority of the money. This means a majority of the exchange’s entire balance was at risk of getting stolen, as per the report.

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