FTX creditors have seized more than $1.4 billion in digital assets, and another $1.7 billion is being recovered

On July 31, 2019, Nishad Singh, former director of engineering at FTX, changed the code base to allow Alameda to withdraw an unlimited amount of encrypted assets from FTX. A week later, it was modified to exempt Alameda from automatic liquidation, and FTX Group will transfer almost all encrypted assets. are stored in hot wallets (SBF lied about using cold wallets). At present, creditors have obtained more than US$1.4 billion in digital assets, and have identified another US$1.7 billion in digital assets and are in the process of recovery (FTX's total liabilities are approximately US$12 billion).