FTX has said it had recovered over US$5 billion in crypto, cash and liquid securities, but that significant shortfalls remained at both its international and United States crypto exchanges. FTX attributed some of the shortfall to hacks, saying that US$323 million in crypto had been hacked from FTX's international exchange and US$90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov 11.
A spokesperson for Sullivan and Cromwell declined to comment. Attorneys at the firm said in a recent court filing that they have rebuffed Bankman-Fried's efforts to stay involved in the company's bankruptcy proceedings.FTX did not provide an estimate of the amount owed to FTX's US or international customers, and it did not immediately respond to questions about Bankman-Fried's blog post.
"We are making progress in our efforts to maximize recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," Mr Ray said in a statement. During FTX's initial investigation into hacks of its system, it uncovered a November asset seizure by the Securities Commission of the Bahamas, which led to a dispute between FTX's US-based bankruptcy team and Bahamian regulators.
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