According to CoinDesk, FTX CEO John J. Ray III stated at the hearing that the cybersecurity company Sygnia provided security advice when FTX experienced an outflow of hundreds of millions of dollars in November last year, preventing possible further hacking attacks. John J. Ray III stated that "this company not only played an important role in preventing this situation, but also recreated an environment that is highly sensitive today because of the nature of encrypted assets and the vulnerability of encrypted assets", he stated “While we have hot wallets in a system where multiple people can get the passwords, one of the founders can actually go into this environment, download a $500 million wallet (private key) on a USB stick, and take They leave without any explanation".