"Meltdown Being Tracked Real-Time": Elon Musk On Reports About Crypto Exchange Hacking

ndtv.com:

More than $600 million disappeared from users' wallets.

The Bahamian cryptocurrency exchange FTX has announced that it has been hacked and advised users not to install any future updates and to remove all FTX apps, according to a report by Coindesk.

According to the report, more than $600 million in cryptocurrency reportedly fled the wallets of bankrupt FTX late on Friday, after which the company claimed that it had been hacked.

"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 tweeted that he 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. @FTX_Official

In another tweet Mr Miller wrote: "following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening - to mitigate damage upon observing unauthorized transactions."

Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening - to mitigate damage upon observing unauthorized transactions.

The transfers, which have not been addressed officially by FTX leadership, came on the same day that the firm officially filed for Chapter 11 bankruptcy protection after apparently losing billions of