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FTX has said it had recovered over US$5 billion in crypto, cash and liquid securities, but that significant shortfalls remained at both its international and US crypto Collapsed cryptocurrency exchange FTX says that around $415m (£338m) of crypto has been stolen by hackers. About $323m was hacked from its international Hace 4 horas The recovery has been aided by the broader cryptocurrency market rally, which increased the value of digital assets held by the estate. The collapsed cryptocurrency exchange FTX has provided an update for investors and revealed that it has identified about $5.5 billion worth of digital assets for recovery. Despite separating liquid from illiquid tokens, the presentation included $529 million worth of FTX’s self-issued token, FTT, under the exchange’s “liquid” assets. FTX lost $415 million worth of crypto to hackers, its new bosses said Tuesday. The failed exchange has identified around $5.5 billion of liquid assets to be recovered.

FTX Recovers $5.5B in Assets, Reveals $415M Crypto Hack: What You Need to Know

The collapsed cryptocurrency exchange FTX has provided a crucial update, revealing that it has identified approximately $5.5 billion worth of digital assets for recovery. This includes crypto, cash, and liquid securities. While this recovery is significant, FTX has said that significant shortfalls remained at both its international and US crypto arms. The recovery has been aided by the broader cryptocurrency market rally, which increased the value of digital assets held by the estate.

However, amidst this progress, FTX also disclosed a major security breach. Collapsed cryptocurrency exchange FTX says that around $415 million (£338 million) of crypto has been stolen by hackers. About $323m was hacked from its international arm. This highlights the ongoing challenges facing the company as it navigates its bankruptcy proceedings and attempts to compensate creditors. FTX lost $415 million worth of crypto to hackers, its new bosses said Tuesday.

The $5.5 billion identified includes assets deemed “liquid,” although a portion, specifically $529 million worth of FTX’s self-issued token, FTT, is included in this category. This categorization might be misleading, as the true market value and liquidity of FTT remain questionable.

In summary, while the $5.5 billion recovery is a positive step, the $415 million hack and the inclusion of FTT in "liquid" assets present continued uncertainties for the future of FTX and its stakeholders. Stay updated with the latest developments as the situation unfolds.

Key Takeaways:

  • $5.5 Billion Recovered: FTX has identified approximately $5.5 billion in recoverable assets.
  • $415 Million Hacked: A significant portion of crypto was stolen by hackers.
  • FTT Valuation Questionable: $529 million worth of FTT is included in “liquid” assets.
  • Significant Shortfalls Remain: Despite the recovery, substantial financial gaps persist.

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