In just seven days, the market capitalization of all cryptocurrencies fell to $841 billion, a $201 billion decline.

The root of this was the unidentified loss of over $600 million in cryptocurrency from the wallets of the now-defunct cryptocurrency company FTX.

In its official Telegram channel, FTX reportedly revealed on Friday that it had been hacked. The company encouraged customers to remove all FTX apps and avoid installing any further updates.

According to persons with direct knowledge, FTX US General Ryne Miller has instructed all employees to keep all emails, messages, notes, and documents related to their work at FTX, FTX US, Alameda, and linked organizations, Bloomberg reported on Wednesday.

“Investigating irregularities with wallet movements connected to aggregation of FTX balances across exchanges,” tweeted Ryne Miller, general counsel for FTX.

Following the purported loss of billions of dollars in customer payments, FTX formally filed for Chapter 11 bankruptcy protection on the same day as the transactions.

Some of the transactions contained offensive remarks and jokes directed at Sam Bankman-Fried, the founder of FTX.

On Twitter, members of the cryptocurrency community conjectured that an attack had tapped off the funds.