Attention, blockchain enthusiasts📢! Odaily Planet Daily recently reported that Michael Lewis, author of "The Big Short", broke the news in his new book "Going Infinite" that the well-known trading platform FTX once lost huge amounts of money in a hacker attack😱. To avoid encouraging other hackers, FTX chose to keep this secret.
What happened was in March and April 2021. A trader opened an account on FTX and successfully monopolized the BitMax (BTMX) and MobileCoin (MOB) markets with extremely small trading volumes. His purchases sent the prices of both coins soaring, with MobileCoin going from $2.5 to $54 in just a few weeks🚀.
Due to flaws in FTX's risk management system, the trader pushed the values of MobileCoin and BitMax to outrageous levels, then borrowed higher-value cryptocurrencies such as BTC from FTX, and finally left FTX with a pile of collapsed tokens. currency. This time alone, FTX lost approximately $600 million, and the total losses from all the thefts have exceeded $1 billion💔.
Despite the heavy losses, FTX chose to keep it secret to avoid causing unnecessary panic. This also reminds us that there are still risks in the cryptocurrency market and investment needs to be cautious. At the same time, let us remain optimistic about mainstream cryptocurrencies such as Bitcoin and look forward to future development🌟.
What happened was in March and April 2021. A trader opened an account on FTX and successfully monopolized the BitMax (BTMX) and MobileCoin (MOB) markets with extremely small trading volumes. His purchases sent the prices of both coins soaring, with MobileCoin going from $2.5 to $54 in just a few weeks🚀.
Due to flaws in FTX's risk management system, the trader pushed the values of MobileCoin and BitMax to outrageous levels, then borrowed higher-value cryptocurrencies such as BTC from FTX, and finally left FTX with a pile of collapsed tokens. currency. This time alone, FTX lost approximately $600 million, and the total losses from all the thefts have exceeded $1 billion💔.
Despite the heavy losses, FTX chose to keep it secret to avoid causing unnecessary panic. This also reminds us that there are still risks in the cryptocurrency market and investment needs to be cautious. At the same time, let us remain optimistic about mainstream cryptocurrencies such as Bitcoin and look forward to future development🌟.