According to BlockBeats, on October 5, Michael Lewis, author of "The Big Short", revealed in his new book "Going Infinite" that FTX had lost a lot of money in hacker attacks, but in order to avoid "encouraging" other hackers, they chose to keep the losses confidential. The largest hacker attacks occurred in March and April 2021. A trader opened an account on FTX and monopolized the market for two tokens with extremely small trading volumes, BitMax (BTMX) and MobileCoin (MOB). His purchases greatly pushed up the prices of the two tokens, with the price of MobileCoin rising from $2.50 to $54 in just a few weeks. The reason for raising the prices of the two tokens was that the trader discovered that FTX's risk management system had flaws, allowing traders to borrow Bitcoin and other easily-sellable cryptocurrencies with the value of their MobileCoin and BitMax holdings. The trader pushed the value of MobileCoin and BitMax to outrageous levels so that he could borrow cryptocurrencies that were actually valuable from FTX. Once he successfully borrowed, he disappeared, leaving FTX with a pile of collapsed tokens. FTX lost about $600 million from this incident alone, and the total value of all losses caused by the theft exceeded $1 billion.