SBF Denies Backdoor Rumor: “I Don’t Even Know How To Code”
In an interview with cryptocurrency vlogger Tiffany Fong, former CEO of now-bankrupt exchange FTX Sam Bankman-Fried clears up a number of rumors that have spread surrounding him connected to the collapse of his company.
SBF Denying ‘Backdoor’ Rumors
In the audio-recorded interview, Fong asked Bankman-Fried about the alleged “back door” that he and his top lieutenant, Gary Wang is reported to have coded into FTX’s system to allow SBF “to execute commands that could alter the [FTX] company’s financial records without alerting others.”
At this question, SBF seemed surprised, “And this is something I would be doing?” the former CEO asked. Bankman-Fried then immediately goes on to deny this rumor, explaining that there was no way for this to be true because he himself could not code and have not opened the code for any of FTX’s system.
“That I can tell you is definitely not true. I don’t even know how to code. I don’t even know how our system works. I certainly wasn’t building a back door. I literally never even opened the code for any of FTX.” SBF says.
Audio from my first interview with Sam Bankman-Fried. SBF talks bankruptcy, the alleged “backdoor,” donations to the Democratic Party, Ukraine money laundering rumors, the hack, Alameda’s margin position on FTX, using FTT as collateral & more. 👀 https://t.co/qVfUv6dhww
— Tiffany Fong (@TiffanyFong_) November 29, 2022
Hacker Could Be Ex-Employee
Within the interview, SBF also brings up the massive hack that FTX suffered causing massive amounts of its funds to get stolen following its liquidity crunch.
Intern notes from SBF interview on:
– FTX backdoor 🚪
– Bahamian withdrawals 🇧🇸
– $1/1 for US, $0.25/1 for Intl. 🇺🇸
— CMS intern (@cmsintern) November 29, 2022
Bankman-Fried explains that before he had lost his access to FTX’s systems, he explored and pried around to see who it is that could have stolen more than $400M from the company’s accounts and determined that it was most likely an ex-employee or someone that had installed malware on an ex-employees computer.
“I don’t know exactly who because they shut off access to the systems when I was halfway through exploring it,” SBF explains.