Tuesday, August 11, 2026
LIVEThe Unrelenting Cyber Battle: Hacking Threats and the Imperative of Robust Data Protection///Navigating the Cyber Labyrinth: Bolstering Defenses Against Evolving Hacking Threats///The Dual Front War: Battling Hacking and Bolstering Data Protection in the Digital Age///The Ever-Evolving Cyber Threat Landscape: Navigating Hacking and Fortifying Data Protection///The Unseen Battle: Fortifying Data in an Age of Relentless Hacking///The Unseen War: Hacking's Relentless Advance and the Imperative of Data Protection///The Evolving Threat Landscape: Hacking, Data Protection, and the Imperative for Proactive Security///Navigating the Digital Minefield: Bolstering Data Protection in an Era of Relentless Hacking///The Dual Fronts of Digital Defense: Combating Hacking and Fortifying Data Protection///Hacking's New Frontier: Fortifying Data Protection in the Age of Advanced Cyber Threats///The Dual Front: Navigating Hacking Threats and Fortifying Data Protection in the Digital Age///Navigating the Digital Gauntlet: The Evolving Nexus of Hacking and Data Protection///The Unrelenting Cyber Battle: Hacking Threats and the Imperative of Robust Data Protection///Navigating the Cyber Labyrinth: Bolstering Defenses Against Evolving Hacking Threats///The Dual Front War: Battling Hacking and Bolstering Data Protection in the Digital Age///The Ever-Evolving Cyber Threat Landscape: Navigating Hacking and Fortifying Data Protection///The Unseen Battle: Fortifying Data in an Age of Relentless Hacking///The Unseen War: Hacking's Relentless Advance and the Imperative of Data Protection///The Evolving Threat Landscape: Hacking, Data Protection, and the Imperative for Proactive Security///Navigating the Digital Minefield: Bolstering Data Protection in an Era of Relentless Hacking///The Dual Fronts of Digital Defense: Combating Hacking and Fortifying Data Protection///Hacking's New Frontier: Fortifying Data Protection in the Age of Advanced Cyber Threats///The Dual Front: Navigating Hacking Threats and Fortifying Data Protection in the Digital Age///Navigating the Digital Gauntlet: The Evolving Nexus of Hacking and Data Protection///
Subscribe
Cyber Security
Independent · Digital
Thehackingpost
RSSSubscribe
CybersecurityAI-assisted

Sam Bankman-Fried found guilty on all seven counts

Sam Bankman-Fried , the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty on all seven counts related to fraud and money laundering.

LBy Laura MitchellNov 03, 20232 min read

Sam Bankman-Fried , the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty on all seven counts related to fraud and money laundering.

The defendant is “charged with a wide-ranging scheme to misappropriate billions of dollars of customer funds deposited with FTX and mislead investors and lenders to FTX and to Alameda Research,” a release from the U.S. attorney’s office at the Southern District of New York stated.

The decision was handed down on Thursday, following a five-week trial that dug deep into how one of the biggest crypto exchanges and its sister trading company collapsed about a year ago. The U.S. Department of Justice charged 31-year-old Bankman-Fried about 11 months ago.

The jury took about four hours to come to a verdict on six counts relating to fraud and one count relating to money laundering.

Department of Justice charged 31-year-old Bankman-Fried about 11 months ago.
Laura Mitchell · Thehackingpost

Bankman-Fried fell quickly from the top of the crypto totem pole after a faulty Alameda balance sheet was unveiled by CoinDesk in November 2022, which resulted in industry-wide panic and concern around FTX and its liquidity.

As the story unraveled , we learned that the problem was much, much bigger than many originally thought: The executives behind the now- bankrupt FTX and Alameda allegedly stole over $8 billion in customer funds.

In his trial, Bankman-Fried testified that he didn’t defraud FTX customers or take their funds, but that Alameda “borrowed” money from the exchange. Prosecutors argued Bankman-Fried made false promises and was responsible for the loss of billions of dollars for thousands of investors on FTX. They also argued he had many opportunities to come clean, but instead doubled down.

Advertisement

indictment stated Bankman-Fried knowingly defrauded FTX customers by misusing their deposits to invest in other companies and pay off lenders and expenses. After mounds of evidence and a verdict, that statement has been deemed true by the court and jury. The seven charges bring a total possible sentence of 115 years in prison for the defendant. typically within 90 days of a guilty verdict.

Based on reporting by techcrunch.com.

AI transparency. This article was produced with the assistance of artificial intelligence and published under human editorial oversight. AI systems can make mistakes. Read how we use AI (EU AI Act, Art. 50).
Related Stories
Cybersecurity

Why Fintech Banking Platforms Are Reducing Operational Costs by 40%

Paige Monroe · Mar 26, 2026
Cybersecurity

Dogecoin Price Prediction: SHIB Burns 172M Tokens as Pepeto Exchange Earns From Every Trade

Eric Wallace · Mar 26, 2026
Cybersecurity

Solana Price Prediction: SOL Holds $86 With Commodity Status as Pepeto Targets Bigger Returns

Zachary Burns · Mar 26, 2026
Cybersecurity

Open Directory Malware Campaign Uses Obfuscated VBS, PNG Loaders and RAT Payloads

Joseph Cain · Mar 26, 2026