FTX employees in the US discovered a “back door” in the exchange’s code that allows Alameda Research to withdraw billions of client funds, WSJ reports. The issue was discovered by the team at LedgerX, a crypto derivatives exchange acquired by FTX in 2021. LedgerX Chief Risk Officer Julie Schoning reported the issue to her boss Zack Dexter, who discussed it with FTX Director of Engineering Nishad Singh. Schoning was fired in August 2022, possibly out of frustration with her bosses over the problems that had been identified.