In a recent testimony, Sam Bankman-Fried, the disgraced founder of FTX, admitted that he was advised to refrain from asking too many questions, which ultimately resulted in the dismissal of important financial decisions. Despite being informed by employees about certain issues within the exchange, Bankman-Fried claimed that his busy schedule caused distractions and led him to overlook the information. He admitted that his subordinates had warned him about a bug related to the fiat in the account, but he failed to follow up on it. Additionally, he disclosed that fellow FTX executives had provided him with a warning about an exploit, which he did not take seriously at the time. Bankman-Fried also clarified that his readiness to engage with journalists while managing the exchange varied, ranging from as little as 30 seconds to as long as an hour before conducting interviews. In a court hearing, he revealed that third parties associated with FTX had experienced prior compromises, acknowledging the existence of security concerns but emphasizing that there had been no core breach.
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