CoinVoice has recently learned that on October 7, according to Cryptopotato, FTX co-founder Gary Wang revealed more details about Alameda Research’s corrupt relationship with his exchange during the SBF fraud trial on Friday.

Wang testified that the functionality Alameda needed to steal customer funds had been built into FTX's computer system as early as 2019. In addition, Alameda was given three privileges at FTX compared to other customers. One of them allowed Alameda to trade with more funds than he actually had in his account. As Wang previously testified, Alameda could withdraw unlimited funds from FTX. Second, Alameda's credit line was increased to $65.3 billion.

This feature was later exploited to withdraw $8 billion worth of fiat and cryptocurrencies, exceeding the amount the exchange held in its accounts — roughly the same shortfall FTX faced when it failed to meet customer withdrawal requests last November. Wang clarified that the additional funds came from FTX customers who had not explicitly chosen to lend their funds. [Original link]