As much as $2 billion in FTX customers' funds has reportedly vanished

Created By Fintech Team

After experiencing a liquidity crisis that required Bankman-Fried to inject $8 billion, the cryptocurrency exchange collapsed.

The events triggered users to pull out $6 billion of the crypto exchange in just 72 hours.

Now news is circulating that between $1 billion and $2 billion of FTX customer funds have vanished,

Ex-CEO Sam Bankman-Fried quietly transferred $10 billion of funds to its sister trading company Alameda Research

In support of this fact, Reuters brought the words of anonymous official holding senior position at FTX, exchange. 

According to the anonymous individual, around $1.7 billion is missing. Also a top staff gave a range of $1 billion to $2 billion.

"Backdoor" allowed Bankman Fried to alter the company's financial records without alerting other people.

As FTX was a leading crypto exchange, the crumbling has weighed heavily on crypto ecosystem. 

Bitcoin and Ethereum have been affected the most, declined about 19% in the last seven day