FTX Says It Moved Remaining Funds to Cold Wallets to “Mitigate Damage” After “Unauthorized Transactions”

FTX US General Counsel Ryne Miller said the crypto exchange moved funds following a series of “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,” Miller said. “Process was expedited this evening – to mitigate damage upon observing unauthorized transactions.”

This is a developing story and will be updated.