FTX says $594 million in crypto was hacked

About $US415 million ($A594 million) in cryptocurrency had been stolen from FTX as a result of hacks, the bankrupt crypto exchange claims in a report to creditors.

FTX has said it had recovered more than $US5 billion ($A7.2 billion) in crypto, cash and liquid securities but significant shortfalls remained at both its international and United States crypto exchanges.

FTX attributed some of the shortfall to hacks, saying $US323 million ($A462 million) in crypto had been hacked from FTX's international exchange and $US90 million ($A129 million) had been hacked from its US exchange since it filed for bankruptcy on November 11.

Indicted founder Sam Bankman-Fried later challenged aspects of the company's report in a blog post.

Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research, pushed back against FTX's calculations late Tuesday, saying the company's lawyers at Sullivan & Cromwell had presented an "extremely misleading" picture of the company's finances.

Bankman-Fried said FTX has more than enough money to repay US customers, who he says are owed between $US181 million ($A259 million) and $US497 million ($A711 million) based on his "best guess".

Bankman-Fried has not had access to FTX records since stepping down as CEO in November.

A Sullivan and Cromwell representative declined to comment.

Lawyers at the firm said in a recent court filing they have rebuffed Bankman-Fried's efforts to stay involved in the company's bankruptcy proceedings.

Bankman-Fried has pleaded not guilty to fraud charges and is scheduled to face trial in October.

FTX did not provide an estimate of the amount owed to FTX's US or international customers and did not immediately respond to questions about Bankman-Fried's blog post.

FTX provided some additional details about its recovery efforts on Tuesday, saying it had recovered $US1.7 billion ($A2.4 billion) in cash, $US3.5 billion ($A5.0 billion) in liquid cryptocurrency and $US300 million ($A429 million) in liquid securities.

"We are making progress in our efforts to maximise recoveries and it has taken a Herculean investigative effort from our team to uncover this preliminary information," CEO John Ray said in a statement.

The crypto assets recovered to date include $US685 million ($A980 million) in Solana, $US529 million ($A757 million) in FTX's proprietary FTT token and $US268 million ($A384 million) in bitcoin, based on crypto prices on November 11, 2022.

Solana, which was lauded by Bankman-Fried, lost most of its value in 2022.

During FTX's initial investigation into hacks of its system, it uncovered a November asset seizure by the Securities Commission of the Bahamas, which led to a dispute between FTX's US-based bankruptcy team and Bahamian regulators.

The two sides settled their differences in January and Ray said on Tuesday the Bahamian government was holding $US426 million ($A610 million) for creditors.

Bahamas Prime Minister Philip Davis referenced the dispute during a Tuesday event at the Atlantic Council in Washington, saying Ray's team had "come around" and accepted that the Bahamian asset seizure "was appropriate and perhaps has saved the day for many of the investors in FTX".