by Katabella Roberts at The Epoch Times via ZeroHedge
In a report to creditors on Jan. 17, the company said that FTX debtors have identified approximately $1.6 billion of digital assets associated with FTX.com, of which $323 million of which was “subject to unauthorized third-party transfers” and $426 million of which was “transferred to cold storage under the control of the Securities Commission of The Bahamas.”
Another $742 million is in “cold storage” under the control of the FTX debtors, and $121 million of which is pending transfer to “cold storage” under the control of the FTX debtors.
The term “cold storage” refers to keeping cryptocurrency keys offline and unconnected to a network or the internet in order to improve security.
With regards to the FTX US exchange,…Continue Reading