John Ray, the new CEO of cryptocurrency exchange FTX, confirmed the hacking of the exchange on Twitter on Saturday. The attack resulted in the loss of hundreds of millions of dollars worth of cryptocurrency from the exchanges’ wallets. 
The removal of trading and withdrawal capabilities, as well as the transfer of as many digital assets as can be recognized to a new cold wallet custodian, are being carried out, according to a statement from new interim CEO John Ray that was tweeted by FTX’s general counsel Ryne Miller. Unauthorized access has been made to some assets, as has been publicly publicized.
1/ Statement from John Ray, Chief Restructuring Officer and CEO of @FTX_Official — Consistent with their obligations as Chapter 11 Debtors-in-Possession, FTX US and FTX [dot] com continue to make every effort to secure all assets, wherever located.
— Ryne Miller (@_Ryne_Miller) November 12, 2022
Wallets that appeared to belong to FTX started shifting assets after the attack started yesterday, which Miller said was the exchange taking preventative measures to “mitigate damage upon observing unauthorized transactions.”
Ray agreed with Miller’s assertion and said that FTX is now shifting as many digital assets as are identifiable to a new cold wallet custodian while also eliminating trading and withdrawal functions.
2/ Among other things, we are in the process of removing trading and withdrawal functionality and moving as many digital assets as can be identified to a new cold wallet custodian. As widely reported, unauthorized access to certain assets has occurred.
— Ryne Miller (@_Ryne_Miller) November 12, 2022
In addition, John Ray claims that the company is coordinating with law enforcement and authorities. The announcement comes in response to claims of a theft of user funds late on Friday night that involved sizable on-chain transfers of money from FTX wallets.
3/ An active fact review and mitigation exercise was initiated immediately in response. We have been in contact with, and are coordinating with law enforcement and relevant regulators. (Statement from John Ray, Chief Restructuring Officer and CEO of @FTX_Official)
— Ryne Miller (@_Ryne_Miller) November 12, 2022
Currently, there are still many doubts about the hack, as it happened at a time when FTX was blocking user withdrawals, sparking rumors that the exchange was trying to take users’ funds.
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