DeFi News Official TheBitTimes.com

Blockchain analytics firm Elliptic has released new findings that suggest a Russian-linked entity may be behind the high-profile hack of cryptocurrency exchange FTX. The revelation comes as part of an ongoing investigation into the theft of a staggering $477 million in various cryptocurrencies from the exchange. Funds moved during SBF’s court appearance Elliptic’s report highlights a key moment that casts doubt on initial suspicions that FTX founder Sam Bankman-Fried could be involved in the theft. According to the firm, $15 million of the stolen assets were moved on Oct. 4, 2023, at 3:41 p.m. EST. At that time, Bankman-Fried was reportedly in a Manhattan courtroom without internet access, making it unlikely that he was responsible for the transaction. Since the hack, a significant portion of the stolen funds has been converted to Bitcoin (BTC) and funneled through ChipMixer, a now-defunct privacy mixer. Elliptic’s Analysis shows that these assets were often m...

Former FTX CEO Sam Bankman-Fried’s lawyers question whether he can prepare for trial , while prosecutors claim that his bail revocation appeal is meritless. According to a Sept. 6 Decrypt report, SBF’s lawyers argue that he “will not have a meaningful opportunity to prepare his defense” under his current arrest conditions. The former FTX CEO was granted access to an air-gapped laptop in a visiting room during specific daily hours to review discovery materials related to the case brought against him. More specifically, according to the filing, SBF has access to the laptop to view the documents “in the legal visiting room 8:00 a.m. to 7:00 p.m., Monday through Friday, and 8:00 a.m. to 3:30 p.m., Saturday through Sunday and holidays.” The letter cited an alleged incident when he was forced to leave the room early, losing about 4.5 hours of access. Moreover, SBF’s lawyers argued that communication with him is too “slow and cumbersome.” At the same time...

FTX token (FTT) has seen an increase in price for five days in a row as the discussion around the relaunch of the now-defunct FTX derivatives platform has taken the spotlight. At the time of publishing, FTT was trading at $1.71 — a 21% growth over the past 24 hours, CoinMarketCap data shows. FTT 1-day chart | Source: CMC Increasing optimism on FTX2.0  Following the rumors about the exchange relaunch , many investors now believe that FTT is trading at a discount. Any prospective reboot of the exchange has stirred up a fresh flood of capital into the digital currency. The current management of the trading platform is exerting significant effort to guarantee the restart. The company’s chief executive officer, John Ray III, intends to win back consumers’ confidence by improving the effectiveness of service delivery, rebranding products, strengthening security measures, and increasing responsibility for all prospective clients, according to The Wall Street Jo...

Before Christmas, FTX founder Sam Bankman-Fried was released from jail on a $250 million bail. He was extradited to the US after an eight-day stay in The Bahamas Fox Hill correctional facility. The former executive of the exchange faces charges for wire fraud, securities fraud, commodities fraud, and money laundering among others. Also Read: FTX Customers File Class Action Lawsuit Claiming Assets SBF In Talks With Michael Lewis According to recent reports, SBF is staying in San Francisco with his parents who are well-known law professors at Stanford. A recent report from New York Post revealed that the FTX founder is likely turning his crypto tale into a “blockbuster” with the help of bestselling author Michael Lewis. Lewis has penned several hits including The Big Short and Moneyball. JUST IN: Sam Bankman-Fried is in talks with 'Big Short' writer Michael Lewis while under house arrest, NYPost reports. — Watcher.Guru (@WatcherGuru) December 27, 2022 ...