Japan’s hacked crypto-exchange Liquid received $120m in loans from FTX

August 27, 2021


Japan's hacked crypto-exchange Liquid received $120m in loans from FTX

The trading platform lost almost $100m in a hacking attack a week ago. It will use the funds from FTX to grow its business.

Japanese cryptocurrency exchange Liquid has received a $120 million loan from FTX Trading, which owns cryptocurrency derivatives exchange FTX. The Japanese crypto exchange will use the funds to increase liquidity, improve customer service and license Liquid's operations in Japan and Singapore.

On Aug. 19, Liquid reported a hack that stole nearly $100 million from the trading platform's addresses, according to analyst firm Elliptic. Liquid representatives did not disclose the amount of losses caused by the hack, but assured its users that the incident will not affect the operation of the trading platform.

Incident update - 25th August 2021: We want to reassure our users that they will not suffer any loss due to the incident that took place on the 19th of August. There will be no impact on user balances at Liquid.

Liquid is one of the largest cryptocurrency exchanges in Japan, which was founded in 2014. The exchange had a maximum daily trading volume of $1.1bn in 2021.

FTX is one of the world's top five crypto exchanges in terms of trading volume. In the last 24 hours, the trading volume on the platform amounted to $15.2 billion.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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