Over $400M worth of tokens FTX funds drained from company accounts

Quick Take

  • Someone has moved hundreds of millions of dollars flow out of FTX. 
  • Over $400 million worth of tokens has been transferred out of FTX, some of it liquidated. 

Crypto exchange FTX is seeing millions of dollars flow out of its exchange with early reports of some user account balances being completely empty.

So far, over $400 million has been transferred to a single wallet address. The wallet has acquired tens of millions of dollars worth of several types of tokens by draining FTX accounts, and began selling tokens that it received from FTX.

FTX's general counsel Ryne Miller claimed the exchange is "investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges – unclear facts as other movements not clear. Will share more info as soon as we have it. @FTX_Official." 


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Separately, Reuters is reporting that at least $1 billion in customer funds at the exchange disappeared last weekend, citing two former senior employees briefed on the company's finances. 

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About Author

Mike is a reporter on the crypto ecosystems team who specializes in zero-knowledge proofs and applications. Prior to joining The Block, Mike worked with Circle, Blocknative, and various DeFi protocols on growth and strategy.


To contact the editor of this story:
Colin Wilhelm at
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