CryptoQuestion

Bankrupt crypto exchange FTX's new chief executive, John Ray, is looking into the possibility of reviving the platform.

He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.

A year ago FTX was valued at $32bn (£26bn), but it filed for bankruptcy protection in November.

It has been estimated that $8bn worth of funds was missing.

Sam Bankman-Fried, the founder and former chief executive of the exchange, has been accused of defrauding customers and investors to pay debts incurred by his crypto-focused hedge fund, Alameda Research.

Cyber-crime gangs have had a 40% drop in earnings as victims are refusing to pay ransoms, researchers say.

Cryptocurrency experts at Chainalysis say ransomware groups extorted at least $457m (£370m) from victims in 2022 - $311m less than the year before.

The true figures are likely to be higher, but experts agree that fewer victims are paying.

However, while there has been a drop in criminal revenue, the number of attacks is rising.

Companies, governments, schools and even hospitals around the world are regularly falling victim to ransomware hackers, who lock staff out of their IT systems until a ransom is paid, usually in Bitcoin.

Many ransomware crews are thought to be based in Russia, although Russian officials deny the country is a haven for the groups.

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