{"id":18326,"date":"2022-11-18T19:17:42","date_gmt":"2022-11-18T19:17:42","guid":{"rendered":"https:\/\/productcollective.com\/?p=18326"},"modified":"2022-11-18T21:30:00","modified_gmt":"2022-11-18T21:30:00","slug":"crypt-oh-no-2","status":"publish","type":"post","link":"https:\/\/productcollective.com\/crypt-oh-no-2\/","title":{"rendered":"Crypt-oh no, part 2"},"content":{"rendered":"

Last week, I wrote a bit about the absolute meltdown that happened at the crypto exchange, FTX. It\u2019s probably going to soon be the subject of a Netflix limited series (and is sure to be in its Top 10 for a while once it comes out). But if you haven\u2019t been paying attention,\u00a0you can check out my first write-up from last week<\/a>. So much more has happened since then, though:<\/p>\n

First, over the weekend, FTX \u201cwas hacked\u201d and all of the remaining funds that were locked up in the exchange were \u201cstolen.\u201d There were many people who thought it was an inside job. But today, it actually became clear that it wasn\u2019t a hacker\u2026 or FTX insiders.\u00a0It was actually the Bahamian government.\u00a0<\/a>They ordered FTX\u2019s executives to transfer the funds over to them for \u201csafekeeping.\u201d Whether or not the funds will actually be kept safely and returned to its rightful owners remains to be seen.<\/p>\n

Also, major celebrities like Tom Brady, Steph Curry, Larry David, and others got swept into the chaos by being named in a class action lawsuit against FTX.\u00a0From CoinTelegraph<\/a>, \u201cThe lawsuit alleged that FTX attempted to destroy incriminating emails, texts and evidence of its criminal activities. However, the recovered evidence suggests that \u201cFTX\u2019s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.\u201d<\/p>\n

What happens next? Who knows. But grab your popcorn, because the story isn\u2019t done yet. It seems like there will be more and more revealed in the weeks to come.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, I wrote a bit about the absolute meltdown that happened at the crypto exchange, FTX. It\u2019s probably going to soon be the subject of a Netflix limited series (and is sure to be in its Top 10 for a while once it comes out). But if you haven\u2019t been paying attention,\u00a0you can check […]<\/p>\n","protected":false},"author":3,"featured_media":18328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[341],"tags":[],"yoast_head":"\nCrypt-oh no, part 2<\/title>\n<meta name=\"description\" content=\"Last week, I wrote a bit about the absolute meltdown that happened at the crypto exchange, FTX. 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