Cybersecurity
FTX’s Missing $400 Million Were Stolen in SIM-Swapping Hack, DOJ Says
- Three people charged over SIM swap scheme that targeted FTX
- Sam Bankman-Fried had speculated hack was an inside job
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Three people have been charged with orchestrating a SIM-swapping scam that siphoned more than $400 million from FTX as the cryptocurrency exchange spiraled into bankruptcy.
Hours after FTX filed for bankruptcy in November 2022, and its founder Sam Bankman-Fried resigned, hackers drained hundreds of millions of dollars worth of digital currency from the platform, before funneling it through a web of decentralized exchanges.