FTX execs hid $8 billion in liabilities in a customer account that Bankman-Fried referred to as ‘our Korean friend’s account,’ CFTC prosecutors allege

Yahoo News – Business Insider

By Laila Maidan

Sun, December 25, 2022 at 12:33 PM EST

The case of “where did the money go” is beginning to unravel for crypto exchange FTX.

On November 11, the exchange’s founder, Sam Bankman-Fried filed for Chapter 11 bankruptcy protection for FTX and about 130 of its affiliated companies. The decision came after a scurry of withdrawals left the exchange illiquid.

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