Sam Bankman-Fried built a "backdoor" to his FTX exchange in an effort to change financial records and move funds without alerting others, according to a report by Reuters citing two people with knowledge of the matter.
He used bespoke software that was designed so that even external auditors would not be notified of changes to FTX books, the report said. It meant that no red flags were raised when $10 billion of funds were moved to FTX's sister trading arm Alameda.(by Lucy Harley-McKeown)
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