11 Nov 2022 (Chapter 11 filing)
FTX / Alameda: November 2022 Exchange Collapse and Bankruptcy
FTX: on 11 Nov 2022 FTX Trading Ltd. and affiliates filed for Chapter 11. Customer withdrawals had halted days earlier amid Alameda solvency revelations. Not a smart-contract exploit; custodial failure.
- Event date
- Incident typeExchange insolvency
- Bug classCustody failure
- Published
Loss, as sourced
Customer shortfall addressed through Chapter 11; exact estate figures evolved across bankruptcy filings. Primary: court docket / contemporaneous FTX statements — treated here as the insolvency event date.
Traceability
Primary sources
In brief
Root cause: Custodial misuse of customer deposits / Alameda exposure as established in subsequent DOJ/SEC actions — not a protocol bug.
Timeline, as sourced: Early Nov 2022 Coindesk balance-sheet report; withdrawal halt; 11 Nov Chapter 11; later criminal/civil cases.
Account, as sourced
Primary legal actions (DOJ/SEC) establish the custodial failure narrative around the Nov 2022 collapse.
Included as a foundational custody-failure log entry; figures deferred to estate filings.
Summaries of public sources as of the published date; except where marked (on-chain), not independently verified by NullMeridian. Figures are the sources’ own and are attributed; where sources disagree, each is given. Sources may since have changed. Not legal, financial or investment advice.
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