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The Independent UK
The Independent UK
National
Cathy Bussewitz

Funds vanish at bankrupt crypto exchange FTX; probe underway

FTX Crypto Molly White Elliptic
Copyright 2022 The Associated Press. All rights reserved.

Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday.

The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to a tweet by FTX’s general counsel Ryne Miller. FTX is also coordinating with law enforcement and regulators, the company said.

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