### After a mysterious outflow of over $600 million, bankrupt FTX says it moved the remaining funds to "mitigate damage" after "unauthorized transactions."

The latest twist in the FTX saga has left many wallet holders reporting that they saw $0 balances in their FTX.com and FTX US wallets. About $662 million in crypto were moved from FTX wallets late Friday.  

In a tweet, FTX US General Counsel Ryne Miller said that FTX started moving the digital assets to cold storage, or wallets that are not connected to the internet, after the company filed for bankruptcy on Friday. It was then expedited after a series of "unauthorized transactions.”


[![image](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/088377aa-7f63-4a45-394b-45d25ccc4c00/public)](
https://twitter.com/_Ryne_Miller/status/1591326796305530880?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1591326796305530880%7Ctwgr%5Eb972354f39e15130055243eb6120519e6e525dc6%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fbusiness%2F2022%2F11%2F12%2Fftx-says-it-moved-remaining-funds-to-cold-wallets-to-mitigate-damage-after-unauthorized-withdrawals%2F)

This comes after FTX filed for U.S. bankruptcy court protection from creditors and founder Sam Bankman-Fried resigned as chief executive. The US Securities and Exchange Commission is currently investigating Bankman-Fried's businesses and whether FTX mishandled customer funds. 

After a mysterious outflow of over $600 million, bankrupt FTX says it moved the remaining funds to "mitigate damage" after "unauthorized transactions."

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