I think it’s fairly clear what happened: Customers deposited $8B you mark $8B of cash as assets and $8B of customer claims as liabilities. You send that cash

I think it’s fairly clear what happened: Customers deposited $8B you mark $8B of cash as assets and $8B of customer claims as liabilities. You send that cash to Alameda *off the books* because otherwise you will raise some alarms in internal procedures. Now your assets and liabilities don’t match anymore. You want to do some accounting because you are about to go bankrupt, you now end up with a $8B hole that you mark as “Hidden poorly internally labeled account”