Alamedas Secret Backdoor Was Discovered Months Before FTXs Collapse: Report
Technologie La porte dérobée secrète dAlameda a été découverte des mois avant leffondrement de FTX : rapport Il y a 20 minutes Nouvelles Bitcoin Ethereum Amid the ongoing trial of FTX co-founder and former CEO Sam Bankman-Fried, a report has surfaced stating that some of the company‘s employees based in the United States found a hidden backdoor allegedly used by Alameda Research to siphon billions worth of customer funds from FTX, six months before the crypto exchange’s eventful fall. The firms top management fired the leader of the FTX team, who discovered the secret backdoor for Alameda. FTX Employees Alerted Exec About Alamedas Backdoor Some US-based FTX employees found the hidden backdoor favoring Alameda in May 2022, according to the Wall Street Journal. The team who were working for LedgerX – which was acquired by FTX in October 2021 and later bought by Miami International Holdings in 2023 – discovered that Alameda could have a negative balance without being subject to the usual automatic liquidation process. The employees reported the issue to the head of their division, Julie Schoening, who was the Chief Risk Officer at LedgerX and was concerned about Alameda‘s supposed preferential treatment. Schoening took the matter to LedgerX boss Zach Dexter, while Dexter alerted FTX’s