Indian-origin Nishad under scanner for crypto exchange FTX crash

FTX, which last week filed for bankruptcy in the US, did not reveal how much it lost in unauthorised transactions but reports claimed the amount could be as high as $600 million
Representative Image
Representative Image

SAN FRANCISCO: Indian-origin Nishad Singh, is being scrutinized for financial practices that caused the collapse of FTX, one of the world's largest cryptocurrency exchanges.

He lived with the FTX founder along with 9 others.

Singh was in the inner circle of FTX's 30-year-old founder, Sam Bankman-Fried.

"Gary Wang (Chief Technology Officer), Nishad and Sam control the code, the exchange's matching engine, and funds," said a person familiar with the matter.

Beleaguered crypto exchange FTX recently admitted that "unauthorised transactions" have drained hundreds of millions of dollars from its wallets, saying the company has moved many digital assets to a new "cold wallet custodian".

FTX, which last week filed for bankruptcy in the US, did not reveal how much it lost in unauthorised transactions but reports claimed the amount could be as high as $600 million.

His LinkedIn profile indicates that he attended Crystal Springs Uplands School in California and graduated summa cum laude from the University of California, Berkeley in 2017 with a bachelor's degree in Electrical Engineering and Computer Science.

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