A trust issuer that tokenizes and launches many assets not only limited to dollars but also traded in traditional financial markets. Paxosreclaimed a large portion of the gold-linked cryptocurrency (PAXG) lost to hackers by the FTX exchange.
Taking advantage of the chaos that ensued after the giant cryptocurrency exchange filed for bankruptcy protection last month, hackers embezzled $400 million worth of cryptocurrencies from FTX. 5% of the cryptocurrencies stolen by cybercriminals consisted of PAXG.
Paxos officials announced that they froze $20 million worth of PAXG tokens after the crashed exchange was hacked. According to the data revealed after six weeks, 1.184 stolen PAXG The token was once again in the hands of the company.
Blockchain security firm Peckshield, on-chain Based on its data, Paxos announced that officials have started moving PAXG tokens in the hands of the hacker to an empty wallet.
Although the trust issuer Paxos somehow got back the assets lost to hackers due to FTX, the damage is still huge. The new boss of the sunken cryptocurrency exchange, John Ray, stated that they found that the wallet protection measures in the SBF period were quite inadequate for an industry giant. Cybercriminals have embezzled millions of dollars in crypto from the exchange due to its low level of security.
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