Collapsed crypto exchange FTX said on Saturday it was transferring funds into offline storage due to a series of “unauthorized transactions,” with analysts saying millions of dollars worth of assets had been withdrawn from the platform.
FTX U.S. general counsel Ryne Miller said in a tweet on Saturday that the exchange was accelerant the process of shifting all digital assets into cold storage “to mitigate damage upon observing unauthorized transactions.”
Cold storage refers to crypto wallets that are not connected to the internet to guard against hackers.
Late on Friday, Miller tweeted that he was “investigating abnormalities with wallet movements related to the consolidation of FTX balances across exchanges.”
Figures from Singapore-based analytics firm Nansen showed a one-day net outflow from FTX of about $266 million, with $73 million withdrawn from FTX U.S. alone.
Prior to Miller’s tweets, FTX officials appeared to confirm rumors of a hack on the firm’s Telegram channel, according to a CoinDesk report which said that the exchange had instructed customers to delete FTX apps and avoid its website.
