Reported by: Alix Langone

The US Department of Justice has launched a criminal investigation into $372 million in stolen FTX assets, according to a new report from Bloomberg. 

The probe, which is independent of the fraud case against FTX co-founder Sam Bankman-Fried, centers on more than $370 million that went missing mere hours after the cryptocurrency exchange declared bankruptcy, but has not yet determined whether it was an inside job or the work of hackers, according to a person familiar with the case, Bloomberg reports. US authorities have so far managed to freeze only a small portion of the stolen funds, the report says.

The investigation is being run by the National Cryptocurrency Enforcement Team, which was established last year to focus on cyber crime and illicit cryptocurrency activities.

Read full report: https://www.cnet.com/google-amp/news/doj-investigating-372-million-in-missing-ftx-funds-reports-say/