Bankrupt crypto firm FTX said Tuesday that $415 million worth of crypto exchange .
In a presentation titled “Maximizing FTX Recovery,” lawyers and advisors to . FTX lenders updated the total liquid assets identified for recovery and said . They were worth about $5.5 billion.
Yet, this includes “unauthorized third-party transfers” of $323 million from . FTX.com (international business) and $90 million from FTX US, the company said in a statement. The missing crypto may be connected to a hack of FTX’s systems that was uncovered . Shortly after the company’s collapse in November.
At the time, the stolen . Crypto was worth $477 million, according to blockchain analytics firm Elliptic.
FTX filed for bankruptcy. After a wave of divestments by the exchange and sister hedge fund Alameda. Founder and former CEO Sam . Bankman-Fried was indicted by federal prosecutors in December on fraud and money . laundering charges. Bankman-Fried pleaded not guilty to . The charges in January, and has been released on $250 million bond ahead of his trial. Which is scheduled for October.
FTX’s advisers are also . Reviewing a $2.1 billion share repurchase payment from FTX to crypto exchange. Binance in the third quarter of 2021. Binance was the first Binance’s stake in his company in 2021.
In an appearance on. CNBC in December, Binance CEO Changpeng “CZ” Zhao was asked . About a potential $2.1 billion clawback as part of FTX’s bankruptcy proceedings.
our legal team is capable of handling this.”
A 20-page presentation from . FTX’s lawyers and advisers provides a breakdown of FTX’s assets and . W This includes several million dollars worth of property in the . Bahamas, where Bankman-Fried lived and ran the company.
“We are making significant progress in our efforts to maximize recovery, and it took a. Herculean investigative effort from our team to uncover this initial information,” said. John Ray, who is serving as .
. The presentation included $529 million worth of FTX’s self-issued token. FTT, under the exchange’s “liquid” assets. FTT has lost more than 90% of its value since early November.
