Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX's FTT token on its platform and urged other competing exchanges to follow suit.

Binance halts FTX's FTT token deposits, urges other crypto exchanges to follow

Bankrupt Crypto trading fund FTX confirmed that there was an 'unauthorised access' to its accounts. Moments later, the embattled company's CEO announced that FTX is now switching off the option of trading or withdrawing funds, exactly how much money is involved still remains unclear.

FTX saga continues: Funds vanish at bankrupt Crypto exchange, company confirms 'unauthorised access'

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Binance halts FTX's FTT token deposits, urges other crypto exchanges to follow

FTX saga continues: Funds vanish at bankrupt Crypto exchange, company confirms 'unauthorised access'