Alameda bungled security, lost $190 million from hacks: former engineer | Headlines | News | CoinMarketCap

10/12/2023 06:32
Alameda bungled security, lost $190 million from hacks: former engineer | Headlines | News | CoinMarketCap

A former employee of Alameda Research claims the sister trading firm to the collapsed FTX crypto exchange at one point lost $100 million after a …

A former employee of Alameda Research claims the sister trading firm to the collapsed FTX crypto exchange at one point lost $100 million after a trader clicked on a phishing link. And that wasn't the only time the firm, co-founded by the disgraced crypto mogul Sam Bankman-Fried, was duped and lost millions of dollars.

Bankman-Fried "believed that the single most important thing for a startup like Alameda ... was being able to move very, very fast, so much so that he decided to ignore engineering and accounting practices that are considered standard at tech companies and financial services firms," Aditya Baradwaj posted to X.

The former Alameda software engineer has recently been vocal about what went on at the trading firm, posting various accounts on social media. The latest details …

Read more --->