Posted 10/5/2023, 11:30:16 AM
FTX Staff Discovered Alameda's 'Backdoor' Access to Customer Funds Months Before Collapse
- FTX staff found Alameda's 'backdoor' in exchange's code months before collapse
- Backdoor allegedly let Alameda withdraw huge sums from FTX customer funds
- Alameda allowed negative balance of up to $65B; treated differently than users
- FTX team raised concerns after finding Alameda's 'special treatment' in code
- Concerns reached SBF inner circle but backdoor never fixed before FTX imploded