{"id":447285,"date":"2023-10-12T11:52:41","date_gmt":"2023-10-12T11:52:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=447285"},"modified":"2023-10-12T11:52:41","modified_gmt":"2023-10-12T11:52:41","slug":"sam-bankman-frieds-alameda-research-lost-at-least-200-million-to-security-breaches-former-engineer-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sam-bankman-frieds-alameda-research-lost-at-least-200-million-to-security-breaches-former-engineer-says","title":{"rendered":"Sam Bankman-Fried’s Alameda Research Lost At Least $200 Million To Security Breaches, Former Engineer Says"},"content":{"rendered":"

FTX affiliate Alameda Research lost around $200 million to phishing attacks and scams, according to claims by a former engineer at the firm, Aditya Baradwaj.<\/p>\n

In a thread on Crypto X, Baradwaj said Alameda, a hedge fund run by former Sam Bankman-Fried girlfriend Caroline Ellison<\/a>, conducted safety checks only upon need.<\/p>\n

There was also no code testing, and deficiencies existed in balance accounting. Blockchain private keys and exchange API keys existed in plaintext within a file accessible to employees.<\/p>\n

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This meant virtually no code testing and incomplete balance accounting<\/p>\n

Safety checks for trading would only be added on an as-needed basis<\/p>\n

Blockchain private keys and exchange API keys were stored in plaintext in a file that several employees could access<\/p>\n

— Adi (e\/acc) (@aditya_baradwaj) October 11, 2023<\/a><\/p><\/blockquote>\n