On the night of Nov. 11, several wallet addresses linked to FTX were found transferring millions of dollars worth of cryptocurrencies without an official notice — sparking speculations ranging from the commencement of FTX’s bankruptcy proceedings to the involvement of hackers. Telegram confirmed that funds transfers were part in an ongoing hack by FTX within hours. Source: TelegramFollowing FTX’s confirmation on Telegram about the hack, as shown above, Tether proactively blacklisted $31.4 million worth of USDT tokens linked to the transactions. Blockchain investigator ZachXBT pointed out that the blacklisted USDT tokens consisted of $3.9 million USDT for Avalanche and $27.5 million USDT for Solana (SOL). FTX meltdown/ransack being tracked in real-time on Twitter— Elon Musk (@elonmusk) November 12, 2022

Billionaire entrepreneur Elon Musk, who recently purchased Twitter in hopes of unleashing the platform’s full potential, acknowledged Twitter’s contribution in tracking down the FTX developments in real time.Elon Musk takes a dig at FTX CEO Sam Bankman-Fried. Source: TwitterBy blacklisting alleged stolen USDT tokens, Tether disarmed hackers by preventing them from siphoning the assets into another account or exchanging them to other cryptocurrencies. Tether can burn the USDT blacklisted and reissue equal amounts to the original owners.Related: FTX-Binance standoff highlights the need for clear rules — Sen. LummisIn order to regain investor trust, major crypto exchanges such as Crypto.com (Binance, OKX and Kucoin) have shared their proofs of reserves. Taking the lead in this drive, Bitfinex CTO Paolo Ardoino shared 135 cold and hot wallet addresses revealing Bitfinex’s proof of reserves.1/
@bitfinex reserves proof
Here is the list of the main Bitfinex walletshttps://t.co/TaS7Vy9qfPFinex holds:
– 204338.17967717 BTC – (among top Bitcoin holders)
– 2018.5 L-BTC (Liquid)
– 1000 BTC on LN⚡️
– 1225600ETH (among the top holders of ethereum)
…— Paolo Ardoino (@paoloardoino) November 11, 2022

Although the move was well received by investors, very few members of the community pointed to Bitfinex’s lack of liability figures. This makes the data unreachable for review.

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