We are all aware of how much the FTX crash has harmed the crypto market and it ecosystem, and this morning I was scrolling through Twitter to find the most recent information about the current cryptocurrency market. There was a lot of FUD, which led many people, especially new investors, to panic sell and dump their holdings. ![IMG_20221112_090715.jpg](https://images.hive.blog/DQmfSxYfTS38FCGuyJuRUtYbE3GD84YqqT8D8RAVny8cN6K/IMG_20221112_090715.jpg)_{[Screenshot From Twitter](https://twitter.com/KimDotcom/status/1591323487817601024?s=20&t=4WZe3jRsJAu0sd50APETfQ)} I was scrolling through Elon Musk page when I came across one of his tweet about SBF, and under the same tweet I spotted another tweet inviting Elon to a Twitter space where there was a discussion about the FTX hack that happens overnight. Surprisingly, Elon joined the space, which attracted numerous exchanges, significant platforms, and users in the finance and cryptocurrency industries to join immediately. When Elon was asked about the situation of the market and the FTX hack, he chose to shill DOGE instead, saying, "DOGE to the moon." This caused a lot of people to laugh, and a variety of questions were thrown at him. One user asked him if Twitter would ever add DOGE as a payment option, and another asked him about the Twitter and the blue check controversy. This discussion of how con artists have been posing as different platforms and personalities to defraud people ensued. Elon claimed that the Twitter team is putting the blue check verification on hold while they find the ideal solution. ![Screenshot_2022-11-12-08-52-55-297_com.whatsapp.jpg](https://images.hive.blog/DQmPNCTMSzjDcjN1hzcE5jgNzUiYGtGc9LS5JyFNaiWS4y5/Screenshot_2022-11-12-08-52-55-297_com.whatsapp.jpg)_{[Screenshot From The Twitter Space](https://twitter.com/i/spaces/1RDGlabRpyqJL)} He subsequently exited the space as the co-host and host talked about a variety of topics, gave advice on how to handle the present crypto scenario, and many crypto experts highlighted their prior experiences, particularly in 2018. The main topic of discussion on the space was the hack that occurs on FTX less than 24 hours the company was file for bankruptcy, this hack has seen more than than $600 million stolen from company. After the space was over, I made the decision to conduct my own research on the FTX hack and share it with you guys. According to my research, FTX was hacked earlier this morning the report was made by one of the FTX Telegram group admin >"FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don’t go on FTX site as it might download Trojans." The admin of the Telegram group made the announcement outlined above. On Friday night, the same day that FTX filed for Chapter 11 bankruptcy, hundreds of millions of dollars' worth of coins were allegedly stolen from several wallets that belonged to the company. The hack appeared to be too well-planned, refined, and timed for them to have been carried out by liquidators. Approximately $600 million worth of cryptocurrency was unexpectedly drained, with a large portion of the money moving from Tether (USDT) into the stablecoin DAI and from staked Ethereum (stETH) into Ethereum (ETH). Fortunately, the transferred assets were frozen by Tether, a company that issues USDT, and the FTX company quickly transferred the rest of the funds to a cold wallet. This has been a "frying pan to fire" scenario for the company and its investors. Numerous rumors contend that an insider was behind the attack. This has raised a lot of concern in the crypto ecosystem, the centralized exchanges have been gambling with customers' funds, gravely weakening public trust in cryptocurrencies and it amazing technology (blockchain). _{You can listen to the full record of the space below 👇👇} _{https://twitter.com/i/spaces/1RDGlabRpyqJL}

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FTX Hack, Elon Musk Shilling $DOGE Live on Twitter Space