The collapse of the FTX exchange has been met with surprise among cryptocurrency users and industry insiders. A recent news update revealed that the FTX exchange was compromised by hackers.

FTX Telegram admin gave the report on Telegram and warned customers not to open FTX website because it has been hijacked by scammers. The administrator initially stated that the funds were removed from the website, but that statement has since been retrieved. The administrator, however, hinted that some funds were recovered.

Rynes Miller, General Counsel of FTX.US has commented following the alleged hack on the FTX exchange.

He stated in Twitter that the examination of unusual patterns of wallet movement associated with the consolidation of foreign exchange accounts on exchanges is uncertain because the facts regarding the movements are unclear. However, he promised to share more information if anything comes up.

While there is not much information on the current status of FTX, some users have reported that they are no longer able to log into FTX apps and websites. Others have also commented that their wallet balance shows 0.

The news comes shortly after FTX promised to resume withdrawals in Ethereal (ETH) on Friday. “Matic – If you want to withdraw Matic, please cancel your withdrawal and request it as erc20 Matic”, as announced on FTX Twitter page.

FTX files for bankruptcy

FTX has announced filing for bankruptcy protection in the United States due to its financial situation. About 130 additional partner companies were included in the bankruptcy petition, including FTX US and Alameda Research, the exchange’s trading company. This was announced shortly after Sam Bankman-Fried stepped down as CEO of FTX.

The new CEO of FTX, John J. Ray III, stated on Twitter that a US bankruptcy filing is necessary at this time so that FTX can assess its current situation and offer solutions on how stakeholders can reshuffle their funds. .

Ray also highlighted that FTX has significant assets that can only be profitably managed through a planned collaborative process.

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