FTX Bankruptcy -Crypto King Sam Bankman  $16 billion Fortune Destroyed

On Friday, the cryptocurrency exchange FTX filed for Chapter 11 bankruptcy protection in the United States.

Elliptic Connect, an analytics firm, conducted a review. A total of $473 million is suspected to have been stolen, according to the firm estimates. According to Elliptic Connect There appears to have been a compromise involving $278 million on Ethereum, $106 million on Solana, $89 million on BSC, and $4 million on Avalanche.

Over $220 million in tokens have been exchanged for ETH or DAI on decentralized exchanges, a common tactic used by thieves to avoid asset seizure.

Musk has taken a dig at FTX and Sam Bankman.

Nansen, the blockchain research firm has reported massive withdrawal linked to onw Wallet address.

On Friday, the Bahamas-based FTX and approximately 130 affiliated companies filed for Chapter 11 bankruptcy in Delaware.

Sam Bankman-Fried had stepped down as CEO.

According to the  Bloomberg, $16 billion fortune of Sam Bankman-Fried has been wiped out and is the example of one of the greatest wealth destruction

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