RUMEAR SAAY THIS HACKE IS CREATE BY FTX Elliptic said although the theft is unconfirmed, $473 million in crypto assets were apparently stolen from FTX.
@FTX official say this
to mitigate damage upon observing unauthorized transactions,” MILLER SAID THIS
Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it.
The stable coins and other missing tokens are being quickly converted to Ethereum FTX, until last week one of the most powerful players in the crypto industry
The stablecoins and other missing tokens are being quickly converted to ether
FTX, until last week one of the most powerful players in the crypto industry,
As scrutiny of crypto exchanges increases, Singapore-based crypto.com admitted to accidentally sending more than $400 million in Ethereum to the wrong account. Its CEO, Kris Marszalek, said on Twitter the transfer of 320,000 ETH was made three weeks ago to a corporate account at competing exchange Gate.io instead of to one of its offline, or “cold”, wallets.
And though funds were recovered, users are withdrawing from the platform fearing the same outcome as FTX. Binance CEO Changpeng Zhao issued a warning on Twitter saying, “if an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems.”
‘We have since strengthened our process and systems to better manage these internal transfers,” Marszalek tweeted Sunday.
From IOSCO(International Organization of Securities Commissions), which coordinates rules for G20 countries and others, has already set out principles for regulating stable coins, but now the focus is turning to platforms which trade in them.
In mainstream finance there is functional separation between activities like broking, trading, banking services and issuance, with each having its own set of conduct rules and safeguards.
"For investor protection reasons, there is a need to provide additional clarity to these crypto markets markets through targeted guidance in applying IOSCO's principles to crypto assets," Servais said.
International Organization of Securities Commissions, is an umbrella body for market watchdogs like the Securities and Exchange Commission in the United States, Bafin in Germany, Japan's Financial Services Agency, and the UK Financial Conduct Authority, who all commit to applying the body's recommendations.
The European Union's new markets in cryptoassets or MiCA framework is an "interesting starting point" for developing global guidance as it focuses on supervision of crypto operators, said Servais, who also chairs Belgium's financial regulator FSMA.
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