John Ray III, CEO of cryptocurrency exchange FTX, said his organization consulted with cybersecurity firm SYgnia. The businessman spoke of how the company’s team supplied definitely helped in providing security. The boss said: the FTX platform suffered a massive cyber attack in November 2022. he told the bankruptcy court in Delaware (US).
In early November, the company suffered a mysterious outflow of hundreds of millions of dollars (USD). Around the same time, former Trading Floor Instruction filed for bankruptcy and Sam Bankman-Fried, the service’s founder, resigned as CEO.
Ray III revealed that he had hired a technical expert to fix the dangerous FTX environment. According to his text, Signia prevented what could have led to even greater economic losses . As you understand it, this case is about cybersecurity or the failure to do so,” Ray explained his story. He also stressed that “Sygnia is a digital security super tech company.”
The FTX director stated that the cyber intrusion occurred on the afternoon of November 11 of last year, and Sygnia’s supporters not only thwarted it, but also helped protect cryptocurrency assets thereafter.
According to Ray III’s text, FTX is an example of how bad it is not to own a controlled environment for your digital assets. He added that the system’s defenses are at a fairly low level. The entrepreneur emphasized that the company has a hot wallet that many in the management team have ready access to.
Word for word, this entrepreneur said, “One of the founders could step into this environment, load $500 million worth of wallets onto a flash drive, and walk away with it. There would be little or no liability” . Failed to load all totals.
