FTX Employees Knew About the Backdoor to Alameda Months Before Collapse: WSJ

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FTX Employees Knew About the Backdoor to Alameda Months Before Collapse: WSJ
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Jamie Crawley is a CoinDesk news reporter based in London.

The team was examining whether the code for FTX's main exchange could be used in the U.S when they made the discovery.

Schoening was fired in August 2022, amid suggestions she had irritated her bosses over highlighting the problems. The employees flagged their discovery to FTX's director of engineering Nishad Singh but the problem never got fixed, the WSJ reported, citing people familiar with the matter. LedgerX's chief risk officer Julie Schoening raised the concerns to her boss Zach Dexter, who then discussed it with Nishad Singh, one of FTX founder Sam Bankman-Fried's closest deputies.

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