Consultant Safeguards $500 Million for FTX Using Personal Wallet

In a swift response to a major security breach last year, the FTX cryptocurrency exchange protected a significant portion of its assets. Unusual withdrawals on Nov. 11, 2022, raised alarms among the FTX team. Consequently, the exchange reported losses exceeding $400 million. However, the timely intervention of Kumanan Ramanathan, a consultant from Alvarez & Marsall, was pivotal in preventing further losses.