Blockchain investigations: Following the stolen FTX money
It has been a rocky week for crypto with the collapse of FTX, a major crypto exchange, seemingly wiping billions of the combined net worth of legions of crypto enthusiasts. We’re not talking here about the volatility of the crypto markets either even though the price of Bitcoin crashed to new yearly lows and has been up and down since. Instead, the real headlines have come from billions of dollars’ worth of FTX user deposits simply not being there anymore. In total, it looks as though close to $8 billion worth of crypto assets were essentially worthless as the company did not have the funds needed to pay out their value. On top of that, hackers were able to walk away with almost half a billion dollars. This article will try to unpick the chaos and look at how investigators are trying to get the money back and catch the people who stole it.