Published 1 year ago

How a secret software change allowed FTX to use client money

Summary by WION

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.

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The Hindu

How a secret software change allowed FTX to use client money

As Bankman-Fried grew FTX into one of the world’s largest crypto exchanges, consumer protection was a central tenet of his pitch for crypto regulation in the United States.

1 year ago·India

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Reuters

How a secret software change allowed FTX to use client money

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software.

1 year ago·United Kingdom

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Channel News Asia

How secret software change allowed FTX to use client money

1 year ago·Singapore

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Infobae

How a secret software change allowed FTX to use customers' money

Sam Bankman-Fried had one of his engineers modify a code to benefit Alameda, a fund he owned that thus obtained unlimited credit from the crypto market

1 year ago·C A B A, Argentina

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WION

How a secret software code change allowed FTX to (mis)use client money

1 year ago·Noida, India

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The Print

Exclusive – How a secret software change allowed FTX to use client money

FTX's chief engineer tweaked a code to exempt Alameda Research, owned by Bankman-Fried, from a feature that would have sold off Alameda's assets if it was losing too much borrowed money.

1 year ago·New Delhi, India

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