An attorney for bankrupt cryptocurrency exchange FTX has testified in court that former CEO Sam Bankman-Fried ordered a “secret backdoor” to be created for laundering money.
FTX lawyer Andrew Dietderich told the court that Bankman-Fried instructed the company’s cofounder Gary Wang to create the backdoor.
The move enabled Bankman-Fried’s hedge fund Alameda Research to “borrow” $65 billion of clients’ money from the exchange without their permission.Wang was told to create a “backdoor, a secret way for Alameda to borrow from customers on the exchange without permission,” Dietderich said in his testimony before the Delaware bankruptcy court this week.“Mr. Wang created this […]
Article Source: slaynews.com
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