FTX case: OKX makes great discoveries

OKX is a Seychelles-based crypto exchange. As part of an investigation, it has just announced the discovery of $157 million in assets belonging to FTX and Alameda. In an effort to secure assets, the exchange decides to freeze connected accounts.

OKX identifies $157 million in assets from FTX and Alameda

OKX identifies $157 million in digital assets

After the fall of FTX, the exchange OKX conducted investigations to identify all transactions related to Sam Bankman-Fried’s company. The work paid off! OKX has indeed identified $157 million in assets owned by FTX and Alameda Research. That’s not all ! He also discovered accounts linked to these two companies.

To avoid any fallout, OKX decides to secure these assets and freeze the connected accounts. In his statement, the exchange, however, made a point of mentioning the types of digital assets discovered. However, she declared her intention to return said assets to FTX as well as Alameda Research.

“Right after the collapse of FTX, a hacker also managed to extract $600 million from his wallets. Such situations connote that FTX accounts on other exchanges are also at risk of being compromised”we explain.

“$694 Million in Liquid Assets Identified Prior to OKX Announcement,” Says FTX Lawyers

In early March, attorneys for Sam Bankman-Fried and FTX announced a “massive shortfall” in assets of $694 million on the exchange. This ad came before OKX identified the $157 billion. The assets FTX lawyers are talking about are “Class A assets” the most liquid. This includes fiats, stablecoins, Bitcoin, Ether, BNB and SOL.

In order to secure the assets, OKX had to freeze accounts connected to FTX and Alameda assets. This approach also allows him to protect the crypto exchange. It remains to be seen whether, following the declaration of OKX, other exchanges will follow in its footsteps.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts