Japanese crypto exchange Liquid Global recently suffered a nearly $100 million hack on the 19th after reporting that some of its digital wallets were compromised. It is now reported that Liquid Global has received a loan of $120 million from the major cryptocurrency exchange FTX.
According to a press release issued by Liquid Global, the loan amount would be used for the company’s capital position, improve its capital generation projects as well as offer liquidity to the exchange.
The press release stated:
“The financing will also improve Liquid’s balance sheet and, in turn, its key regulatory metrics, which further corroborates its ongoing licensing opportunities in the key jurisdictions of Japan and Singapore.”
The release also included statements from FTX co-founder and CEO, Sam Bankman-Fried. He stated:
“This opportunity with Liquid allows both organizations to strengthen and reinforce the belief that regulation in crypto and knowing your customer is an important part of the future of our industry.”
Liquid Global also posted a Twitter update along with a blog post reiterating that this incident would not incur any losses to customers. The company tweeted:
“We want to reassure our users that they will not suffer any loss due to the incident that took place on the 19th of August. There will be no impact on user balances at Liquid.”