Alameda Research, a prominent cryptocurrency firm, is facing allegations of paying Chinese officials approximately $150 million to recover $1 billion worth of exchange accounts. The company has been accused of mishandling security, resulting in the loss of $190 million from hacking incidents. Former engineer Aditya Baradwaj revealed that traders lost $100 million in decentralized finance (DeFi) by clicking on fake links, $40 million was lost in a liquidity farming incident, and $50 million was lost due to the exposure of a plain text key file. Baradwaj further claimed that Alameda Research lost at least $200 million to various cyber attacks. These allegations have brought significant attention to the beleaguered company, which is part of Sam Bankman-Fried's crypto empire.
The beleaguered Alameda Research, part of Sam Bankman-Fried's crypto empire, lost at least $200 million to a variety of common cyber attacks, as per new claims made by ex-employee @aditya_baradwaj. By @shauryamalwa https://t.co/iT98S97tjH
ICYMI: Alameda bungled security, lost $190 million from hacks: former engineer https://t.co/vIHe6jBoFR
Alameda Research was conned for over $190 million during his time at the firm, says former Alameda Research engineer @aditya_baradwaj. https://t.co/2MFtyc3VrQ
Former Alameda engineer Aditya Baradwaj reveals the company lost $190 million due to three security incidents. Traders lost $100 million in DeFi by clicking fake links; $40 million was lost on a liquidity farming; and $50 million was lost after a company's plain text key file was… https://t.co/lhtnF6xuBu
Alameda bungled security, lost $190 million from hacks: former engineer https://t.co/q2M9unV3wf
Alameda Research allegedly paid Chinese officials around $150M to regain $1B worth of exchange accounts: https://t.co/SUJ0V4Vgx1 by TechCrunch #infosec #cybersecurity #technology #news