FTX Allegedly Hack, Draining Customers' Wallets; Officials Advise To Delete Their App

The FTX crypto exchange platform just filed for bankruptcy on Friday, Nov. 11.

However, it seems like the digital coin trading company's problems are not over.

Aside from its financial downfall, FTX has to deal with an alleged cybersecurity breach.

Although the massive hack is not yet confirmed, officials are warning users to delete their apps.

AFR reported that the FTX breach might have drained more than $600 million from users' wallets.

Rumored FTX Hack Allegedly Drains Wallet

According to NDTV's latest report, transfers, which the crypto exchange company did not address, happened on the same day FTX filed for bankruptcy.

After several reports, FTX warned users to avoid installing app upgrades via its official Telegram account. The company even said that consumers need to delete their applications.

"FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans," said an FTX account administrator.

Affected cryptocurrencies include Solana, Binance Smart Chain tokens, as well as Ethereum tokens. Officials said that these digital coins were transferred to decentralized exchanges, such as 1inch.

FTX Now Investigating the Breach

FTX General Counsel Ryne Miller said, via his official Twitter account, that they are already investigating the alleged security hack.

He announced that FTX US and FTX are both initiating precautionary steps to transfer all their digital assets to cold storage.

The official further stated that they are already expediting processes in order to mitigate damage.

In the comment section, some Twitter users shared their opinions. One of them even believed that the breach is an inside job.

Since FTX is still investigating the alleged hack, if you are among the concerned users, the best thing you can do is wait for the company's further announcements.

You can check his official Twitter post below to see further details.

Aside from FTX, other companies are also suffering from serious security breaches.

Previously, Medibank hackers exposed patients' records on the Dark Web.

Two new iOS 16.1 flaws were also believed to allow cybercriminals to run iPhone commands.

For more news updates about the FTX hack and other security threats, keep your tabs open here at TechTimes.

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Written by Griffin Davis