As much as $2 billion in FTX customers' funds has reportedly vanished from the collapsed crypto exchange
A "back door" into FTX's books could have allowed ex-CEO Sam Bankman-Fried to quietly transfer $10 billion to trading firm Alameda, Reuters reported.
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Last week, Bankman-Fried shared documents with other FTX executives that showed the missing funds, Reuters reported. The materials revealed a "back door" into the company's books built using bespoke software.
The sources said the "backdoor" allowed Bankman Fried to alter the company's financial records without alerting other people. That meant the transfer of $10 billion did not set off any alarms, they said.
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