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Elon Musk, a multibillionaire tycoon who just bought Twitter in an effort to accomplish its maximum potential, lauded Twitter’s role in following the events of the FTX in real – time basis.
On the evening of November 11, multiple wallet accounts connected to FTX were discovered transmitting millions of dollars’ value of cryptocurrency without the need for a formal announcement, leading to rumors of both hackers and the start of FTX’s bankruptcy procedures. After a short while, FTX on Telegram stated that the fund transfers were a result of a continuing hack.
FTX Telegram admin confirms being hacked. Source: Telegram
Tether proactively blacklisted $31.4 million worth of USDT tickers down $1.00 tokens associated to the transactions when FTX confirmed the hack on Telegram, as seen above. The blacklisted USDT coins, according to blockchain researcher ZachXBT, were made out of $3.9 million USDT on Avalanche AVAX tickers down $13.30.and Solana SOL for $27.5 million USDT,
Tickers $15 drop.
“FTX meltdown/ransack being tracked in real-time on Twitter”
— Elon Musk (@elonmusk) November 12, 2022
Elon Musk, a multibillionaire businessman who just acquired Twitter in an attempt to attain its maximum potential, recognized Twitter’s role in following the events of the FTX in real – time basis.
“Elon Musk takes a dig at FTX CEO Sam Bankman-Fried. Source: Twitter”
Tether prevented hackers from transferring the funds to another account or trading them for other cryptocurrencies by blocking the allegedly stolen USDT token. Tether may burn the blacklisted USDT as part of the remedy and distribute identical proportions of the asset to the previous purchaser.
But the hacker also took a lot of other cryptocurrency holdings, such Ethereum ETHtickers $1,259 down, Chainlink. tickers $6.37 down
And, USDP, where relevant ecosystems have not yet intervened.
Major cryptocurrency platforms, include Binance, OKX, Kucoin, and Crypto.com, have recently made an agreement to disclosing their evidence of reserve in an effort to restore investors ’ confidence.
Paolo Ardoino, CTO of Bitfinex, took the initiative in this endeavour by sharing 135 cold and hot wallet addresses that showed Bitfinex’s proof of reserves.
“1. Bitfinex retains proof
The primary Bitfinex wallets are listed here: https://t.co/TaS7Vy9qfP
– 204338.17967717 BTC are held by Finex (among top bitcoin holders)
– 2018.5 L-BTC (Liquid) (Liquid)
1000 Bitcoins on LN
– 1225600 ETH (among top ethereum holders) (among top ethereum holders)”
— Paolo Ardoino (@paoloardoino) November 11, 2022
Investors welcomed the decision, however few community members brought up the fact that Bitfinex’s liability figures were missing, rendering the data unusable for analysis.
