FTX funds on the move: bankruptcy proceedings, insider threat or a hack? By Cointelegraph

The recent tensions between the two major crypto exchanges FTX and Binance, which was accompanied by a massive selloff of (FTT), resulted in the collapse of roughly 130 companies linked to FTX Group — including FTX Trading, FTX US, West Realm Shires Services, and Alameda Research.

Following the resignation of FTX CEO Sam Bankman-Fried and the revelation of the company’s intent to file for Chapter 11 bankruptcy, on-chain data hinted at the commencement of bankruptcy proceedings as multiple FTX wallets were found transferring funds over to a common (ETH) wallet address.