Bankrupt crypto trade FTX is investigating a potential hack involving tons of of hundreds of thousands of {dollars} in cryptocurrency funds that appear to have gone lacking from its accounts, numerous media retailers reported Saturday.

The corporate’s common counsel tweeted out an announcement Saturday by FTX’s newly appointed CEO that mentioned “unauthorized entry to sure property has occurred” and that FTX had contacted legislation enforcement, The New York Occasions reported.

The precise worth of the apparently lacking crypto funds is unclear, with completely different retailers reporting completely different figures, however various the stories cited cryptocurrency analysis agency Elliptic. As of Saturday evening, Elliptic’s submit concerning the potential theft pegged the quantity at practically $500 million.

Precisely what occurred can be unclear, the Occasions reported.

The publication famous that “a significant theft would make it much more tough for FTX to refund prospects and different collectors who’ve already misplaced billions of {dollars} within the agency’s collapse.”

FTX did not reply to a request for remark Saturday on the apparently lacking funds. The Occasions mentioned the trade’s former CEO, Sam Bankman-Fried, instructed the publication by way of textual content message that, “We’re sorting by way of it with the chapter” group.

FTX filed for chapter safety on Friday, after the steadiness of its enterprise had been questioned. The trade had been one of many largest gamers within the cryptocurrency realm, The Wall Avenue Journal famous, however its meltdown has raised doubts about crypto and has left prospects questioning if they will ever get their a refund.