TechFlow reported on October 12 that, according to The Block, former Alameda Research software engineer Aditya Baradwaj detailed three security incidents that resulted in $190 million in losses for the company.
Baradwaj said SBF believed the most important thing for a startup like Alameda was to grow extremely quickly, leading him to disregard standard engineering and accounting practices common in tech and financial services firms.
In the first incident, a trader "was phished after accidentally clicking on a fraudulent link while attempting to execute a DeFi transaction," resulting in a loss of $100 million.
In the second incident, the creator of a yield farming project defrauded Alameda, causing a $40 million loss.
In the third incident, after an old version of Alameda's "plaintext key file" was leaked, attackers were able to "withdraw funds from some exchanges and place erroneous orders," resulting in a $50 million loss.
Baradwaj said he lost over 90% of his liquid assets when FTX collapsed.
