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Digital-asset exchange FTX will provide about $6 million compensation to its account holders impacted by a phishing incident via a third-party website.
Crypto billionaire Sam Bankman-Fried, FTX's chief executive officer, said on Twitter on Monday that the decision was a one-off as the firm won't be “making a habit” of compensating users caught up in phishing efforts targeting non-FTX websites.
13) But in this particular case, we will compensate the affected users. THIS IS A ONE-TIME THING AND WE WILL NOT DO THIS GOING FORWARD. THIS IS NOT A PRECEDENT. We will not making a habit of compensating for uses getting phished by fake versions of other companies!
— SBF (@SBF_FTX) October 23, 2022
If the perpetrators send back 95% of the $6 million taken from FTX accounts within 24 hours, “we'll absolve them,” Bankman-Fried said.
Last week, Bankman-Fried proposed in a blog post what he called a “5-5 standard” where crypto hackers keep either 5% of the amount they've taken from a protocol or $5 million, whichever is smaller.
That was part of an effort to curb the security exploits plaguing the digital-asset industry.
Digital-asset exchange FTX will provide about $6 million compensation to its account holders impacted by a phishing incident via a third-party website.
Crypto billionaire Sam Bankman-Fried, FTX's chief executive officer, said on Twitter on Monday that the decision was a one-off as the firm won't be “making a habit” of compensating users caught up in phishing efforts targeting non-FTX websites.
13) But in this particular case, we will compensate the affected users. THIS IS A ONE-TIME THING AND WE WILL NOT DO THIS GOING FORWARD. THIS IS NOT A PRECEDENT. We will not making a habit of compensating for uses getting phished by fake versions of other companies!
— SBF (@SBF_FTX) October 23, 2022
If the perpetrators send back 95% of the $6 million taken from FTX accounts within 24 hours, “we'll absolve them,” Bankman-Fried said. Last week, Bankman-Fried proposed in a blog post what he called a “5-5 standard” where crypto hackers keep either 5% of the amount they've taken from a protocol or $5 million, whichever is smaller. That was part of an effort to curb the security exploits plaguing the digital-asset industry.
