Hacker laundering stolen FTX millions

A hacker who stole hundreds of millions of dollars of cryptocurrency from the collapsed exchange FTX last week has begun laundering it through other exchanges, according to administrators handling the liquidation. Executives posted a warning on Twitter yesterday telling crypto companies that the funds belonged to FTX and should be returned. FTX was founded by Sam Bankman-Fried, a crypto entrepreneur, in 2019 and rapidly became one of the biggest players in the industry, based in the Bahamas with a valuation of US$32 billion (NZ$52 billion). It filed for bankruptcy last week after facing billions in customer withdrawals, prompted by rumours over the state of its balance sheet.