Hacked Japanese crypto exchange Liquid received $120 million in loans from FTX

A week ago, the trading platform lost almost $100 million in a hacker attack. The funds received from FTX, it will direct to the development of business

Hacked Japanese crypto exchange Liquid received $120 million in loans from FTX

Japanese cryptocurrency exchange Liquid 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 support services 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 analytics company Elliptic. Exchange representatives did not disclose the amount of losses as a result of the hack, but assured its users that the incident will not affect the work site.

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

FTX is among the world’s top five largest crypto exchanges in terms of trading volume. In the last 24 hours, the trading volume on the site amounted to $15.2 billion.

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The post was written by Crypto Expert John Belford

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