After confirming the recent incident of unauthorized access “to its cryptocurrency holdings, citing a hack, FTX General Counsel Ryne Miller took to his Twitter on Saturday to explain that the exchange is now working with law enforcement.

ryne miller indicated on Twitter, saying it’s from a statement from new interim CEO John Ray, “we are in the process of removing trade and withdrawal functionality and moving as many digital assets as can be identified to a new cold wallet custodian.” He added: “As widely reported, unauthorized access to certain assets has occurred.”

At the end of the note, Ryne concluded by saying expressing that FTX is now in collusion with law enforcement and other applicable regulators. “We have been in contact and are coordinating with relevant law enforcement and regulators,” Ryne stated.

Notably, this news follows the recent news update revealing that hackers compromised the FTX exchange. The FTX Telegram admin gave the report warning customers not to open the FTX website because scammers have hijacked it. Before that, the admin stated that the backgrounds were removed from the website; the administrator also hinted that some funds were recovered.

While the unfortunate crash of the exchange did occur, the consequences resulted in many users losing much of their money. Galois Capital, a crypto hedge fund that engages in over-the-counter trading, recently announced that almost half of its capital is locked up in FTX.

As reported by Blockchain.News citing the Reuters report, Galois co-founder Kevin Zhou stated that the trapped fund is estimated at $100 million despite the fact that the company had initially withdrawn some funds from the crypto exchange.

Galois Capital is not the only crypto exchange caught up in all the FTX turmoil. FiBlocka crypto lending exchange, also recently suspended customer withdrawals following the bankruptcy of FTX.

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