FTX co-founder 'ordered to create secret backdoor' to Alameda Research

A bombshell testimony has revealed that the co-founder of cryptocurrency exchange was ordered by to create a 'secret' backdoor to funnel money to Alameda Research.

Attorney for FTX Andrew Dietderich told the bankruptcy court on Wednesday that Gary Wang was told to create the secret line of credit of customer funds from FTX to the hedge fund.

Dietderich told the court that Wang 'created this backdoor by inserting a single number into millions of lines of code for the exchange' creating the line of credit, which 'customers did not consent' to.

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