Major crypto exchange FTX declares bankruptcy amid reported massive wipeout of funds

Major crypto exchange FTX declares bankruptcy amid reported massive wipeout of funds
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The prominent cryptocurrency exchange FTX said it was moving forward with bankruptcy proceedings on Friday, shortly before it became known that at least hundreds of millions of dollars in funds were missing from the service. 
The exchange said in a press release on Twitter that it and 130 affiliated companies had “commenced voluntary proceedings” under U.S. bankruptcy law in order to start an “orderly process” of asset monetization for stakeholders. 
Hours later, early on Saturday, reports surfaced that the company was investigating a possible hack as hundreds of millions of dollars in crypto funds had reportedly vanished from the exchange’s...
Source: https://justthenews.com/nation/economy/major-crypto-exchange-ftx-declares-bankruptcy-amid-reported-massive-wipeout-funds?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators