Mysterious outflow of tokens. What happened at FTX yesterday?

Failed digital asset exchange FTX has suffered a mysterious token outflow worth about $662 million over the past 24 hours, in the latest twist in one of the darkest periods for the crypto industry, according to Bloomberg.

Clients still recovering from Friday’s plunge into Chapter 11 bankruptcy protection on the platform subsequently encountered what the company’s US general counsel, Ryan Miller, called “wallet movement anomalies.”

Miller said that FTX is accelerating the process of moving digital assets to cold storage that is not connected to the Internet “to reduce the damage when unauthorized transactions are detected.”

According to the analytical company Nansen, the coins leaked from the international and American exchanges FTX. Paolo Ardoino, CTO of stablecoin issuer Tether, referred to a tweet that more than $30 million belonging to “attacking FTX” had been blacklisted.

The recent events have been another blow to the cryptocurrency sector, which is experiencing a year-long decline, as well as the collapse of the FTX exchange and sister trading house Alameda Research. If the outflow of funds is an exploit, then the year can be considered a record for the number of attacks on the digital token industry.

According to Nansen, during the incident, the main wallet owned by FTX was drained of the entire balance in FTT. FTT coins are native to the exchange. The overall outflow from FTX eventually petered out, Nansen said.

The bankruptcy of FTX completed the downfall of one of the richest crypto magnates. The US Securities and Exchange Commission is investigating how closely his businesses were intertwined and whether FTX misused client funds.

Twitter was rife with protests, apparently from disgruntled customers. They referred to a Telegram chat warning that FTX had been hacked and that some client accounts had been emptied. But these claims have not been verified.