Cryptocurrency exchange FTX said in its official Telegram channel that it had been hacked and instructed users not to install any new upgrades and to delete all FTX apps, according to a report by Coindesk.
FTX and FTX US’s wallets appear to be hacked, with more than $600 million leaving the exchange late on Friday, the report said.
“FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans,” wrote an account administrator in the FTX support Telegram chat. The message was pinned by FTX general counsel Ryne Miller.
Mr Miller also tweeted on Saturday that the exchange was investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges.
“Investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges — unclear facts as other movements not clear. Will share more info as soon as we have it,” the tweet read.
Mr Miller said on Twitter that FTX is expediting the process of moving digital assets into cold storage — which is unconnected to the internet — “to mitigate damage upon observing unauthorised transactions”.
According to on-chain data, various Ethereum tokens, as well as Solana and Binance Smart Chain tokens have exited FTX’s official wallets and moved to decentralised exchanges like 1inch, the Coindesk report said.
Both FTX and FTX US appear to be affected, it added.
The transfers come on the same day that the Bahamas-based FTX commenced bankruptcy proceedings in the US following its collapse this week.
Many FTX wallet holders are also reporting that they are seeing $0 balances in their FTX.com and FTX US wallets, Coindesk reported.
FTX’s API appears to be down, which could account for this, the report said.
“By midnight eastern time, FTX’s login portal was unavailable [the site is still online], giving users a 503 error when they attempted to log in,” Coindesk said.
“A 503 error happens when the server is unavailable, commonly because it’s down for maintenance or unavailable for access.”
FTX chief executive Sam Bankman-Fried has resigned from his position, the company said on Friday in a statement posted on its Twitter page.
A rescue deal with rival exchange Binance fell through, precipitating crypto’s highest-profile collapse in recent years.
“FTX Trading Ltd, West Realm Shires Services, Alameda Research and approximately 130 additional affiliated companies have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware,” the statement said.
The company will begin "an orderly process to review and monetise assets for the benefit of all global stakeholders", it said.
John J Ray III has been appointed chief executive of the FTX Group, the company said, adding that Mr Bankman-Fried will remain to “assist in an orderly transition”.
“The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximise recoveries for stakeholders,” Mr Ray said.
Meanwhile, Reuters reported that at least $1 billion of customer funds have vanished from FTX, citing sources.
Mr Bankman-Fried secretly transferred $10bn of customer funds from FTX to his trading company Alameda Research, the sources told Reuters.
A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7bn. The other said the gap was between $1bn and $2bn.
The financial hole was revealed in records that Mr Bankman-Fried shared with other senior executives last Sunday, according to the two sources.
In a tweet on Friday, Mr Bankman-Fried said he was "piecing together" what had happened at FTX.
"I was shocked to see things unravel the way they did earlier this week," he wrote. "I will, soon, write up a more complete post on the play by play."
UAE currency: the story behind the money in your pockets
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Killing of Qassem Suleimani
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Fixtures (6pm UAE unless stated)
Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City
Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
MATCH INFO
Iceland 0 England 1 (Sterling pen 90 1)
Man of the match Kari Arnason (Iceland)
MATCH INFO
Red Star Belgrade v Tottenham Hotspur, midnight (Thursday), UAE
Fixture and table
UAE finals day: Friday, April 13 at Rugby Park, Dubai Sports City
- 3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
- 6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins
UAE Premiership – final standings
- Dubai Exiles
- Abu Dhabi Harlequins
- Jebel Ali Dragons
- Dubai Hurricanes
- Dubai Sports City Eagles
- Abu Dhabi Saracens
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
