Other
"‘Worst-case scenario’: Local crypto exchange Swyftx lays off 40% of staff"
Primary Source ↗Affected
90
individuals/accounts
Incident Details
Following a round of layoffs in August that cut 21% of their workforce, Australian cryptocurrency exchange Swyftx has just performed another round of layoffs less than four months later. This time they’re cutting 40% of their staff, around 90 people.Swyftx’s CEO admitted the company had grown too fast. He attributed the decision to the continued downturn in the crypto market and shaken trust as a result of FTX, though Swyftx says they had no direct exposure to the bankrupt crypto exchange.
Technical Details
- Vendor / Product
- Swyftx layoffs
Timeline
- 2022-12-05 Breach occurred
- 2022-12-05 Publicly disclosed