The former software engineer of Alameda Research, which operates under the roof of the bankrupt cryptocurrency exchange FTX, revealed the jaw-dropping security vulnerabilities.
FTX founder Sam Bankman-Fried (SBF) While the court process continues Alameda Research former cyber security employee Aditya Baradwaj put forward by allegation shock effect created. Baradwaj, Alameda’s dlow key security system And impervious policies because More than $190 million He claimed he lost. The name at the center of all this irresponsibility was again the SBF.
Among the cases illustrated by the company’s former software engineer causing a loss of 100 million dollars at a time It involved a phishing scam. Baradwaj, Alameda employee in Google Ads While he stated that this incident, which occurred when he clicked on a fake phishing link, caused a loss of 100 million dollars at once, the clicked link caused decentralized finance (DeFi) He stated that it belonged to a themed project.
Another case of fraud that Alameda has been exposed to is private keys leaked by an employee happened. This exploit is carried out through various tokens. more than 50 million dollars caused some damage.
Another big loss for the FTX-related company is passive income from yield farming A new project that offers the opportunity 40 million dollars was due to deposit. While this investment was completely blown away as a result of the rug-pull, the ongoing negotiations did not yield any results.
These incidents are just a few of the wide variety of security vulnerabilities at Alameda, Baradwaj said. Software engineer, all this happened It was born out of meddlesomeness originating from SBF. He stated:
BF believed that the most important thing for a startup like Alameda or FTX was to be able to move very, very quickly. This meant almost no code testing and missing balance accounting. Blockchain private keys and exchange API keys were stored in plaintext in a file accessible to a few employees.