FTX, the bankrupt cryptocurrency exchange, has refuted claims by Backpack regarding the acquisition of its European subsidiary, FTX EU. In a statement dated January 8, FTX clarified that the U.S. Bankruptcy Court for the District of Delaware has not approved any such acquisition by Backpack. Additionally, FTX emphasized that Backpack is not authorized to distribute funds to any FTX customers or creditors.

Backpack had previously announced on January 7 that it had acquired FTX EU and intended to manage creditor repayments to EU customers as part of the bankruptcy proceedings. The company also expressed plans to expand its operations in Europe utilizing FTX EU’s Markets in Financial Instruments Directive (MiFID) II License.

However, FTX disclosed that while it had agreed to sell FTX EU to certain former insiders of FTX Europe under a settlement agreement, neither FTX nor the bankruptcy court was informed of any subsequent transfer to Backpack. FTX stated, “Backpack has not been authorized by FTX to make any distributions to any FTX customers or other creditors, including any former FTX EU customers.”

This development introduces uncertainty regarding the status of FTX EU and the process for creditor repayments. FTX reiterated that it remains solely responsible for returning funds to former FTX EU customers and that any amounts owed will be determined by FTX EU following the completion of a sale. The company also noted that its Chapter 11 plan of reorganization became effective on January 3, 2025, with initial distributions expected within 60 days.

OKX, a prominent cryptocurrency exchange, has issued a warning regarding fraudulent browser extensions impersonating its services on the Firefox plugin store. The company clarified that it has not released any official Firefox plugins and urged users to avoid downloading any such extensions.

Users who have inadvertently installed these malicious plugins are advised to immediately transfer their funds to secure wallets. OKX has reported the issue to Firefox officials, requesting the removal of the counterfeit extensions to prevent potential security breaches.

This incident highlights the ongoing threat of phishing scams within the cryptocurrency sector. A recent report by cybersecurity firm CertiK revealed that phishing attacks led to over $1 billion in losses across 296 campaigns in 2024, marking a 21% increase from the previous year.

To safeguard their assets, users are reminded to download software exclusively from official sources and remain vigilant against potential scams. OKX emphasized the importance of verifying the authenticity of browser extensions and other digital tools before installation.

Starknet, a zero-knowledge (ZK) layer-2 scaling solution for Ethereum, has introduced the SN Stack, a comprehensive software suite that enables developers to create custom blockchains utilizing Starknet’s ZK technology.

The SN Stack is available in three configurations: StarkWare Sequencer, which closely mirrors the public Starknet stack; Madara, a fully customizable, open-source setup; and Dojo, optimized specifically for gaming applications. This modular approach offers developers the flexibility to tailor their blockchain solutions to specific needs.

Leo Sizaret, Business Development Manager at StarkWare, emphasized the significance of this launch, stating, “We believe zero knowledge technologies are the future of blockchain. It gives you exceptional security and scalability while also being Quantum resistant and cost-efficient.”

The introduction of the SN Stack comes amid growing concerns about the potential threats posed by quantum computing to current encryption standards. By leveraging zero-knowledge technology, Starknet aims to provide enhanced security and scalability, positioning itself as a robust solution in the evolving blockchain landscape.