FTX had a “backdoor” built into its accounting software by SBF | Bitcoin & Crypto Trading
FTX had a “backdoor” built into its accounting software by SBF, which he used to move billions without triggering alerts
The "backdoor" allowed Bankman-Fried to execute commands that could alter the company's financial records without alerting other people, including external auditors. This set-up meant that the movement of the $10 billion in funds to Alameda did not trigger internal compliance or accounting red flags at FTX.
