- A wave of phishing emails targeting FTX users has emerged.
- Scammers are promising instant withdrawals.
- While the scams may tempt FTX users to click on the link, good news is on the horizon.
Amid a surge in phishing emails, FTX users find themselves enticed by the promise of instant asset withdrawals. While numerous creditors and claimants patiently await their refunds, these deceptive schemes have multiplied in recent weeks, luring unsuspecting users to click on dubious links.
Scammers Play With FTX Users’ Emotions
On Friday, October 20, FTX creditor Sunil took to Twitter, cautioning everyone about a scam that specifically targeted FTX users, urging them to exercise caution and avoid clicking on any suspicious links.
According to the user’s report, scammers have been sending deceptive emails under the moniker FTX Trading, West Realm Shires Services, and FTX EU, falsely offering FTX creditors an exclusive chance to undergo immediate asset withdrawals, bypassing waiting periods and legal proceedings.
For FTX users who may have received such emails, here are some tips to protect yourself:
- Double-check links, websites, and emails. Avoid clicking any link unless it’s from a verified source.
- Promptly report any suspicious activity to the appropriate authorities or departments.
- Seek assistance from official channels and prioritize your safety and security.
- Verify and scrutinize all addresses, including contracts, senders, and others, before taking any permanent actions.
While the scams may have tempted some users to click the links, good news may soon be on the horizon for FTX users.
FTX Refunds Wen?
On October 16, FTX debtors unveiled a fresh settlement plan for their customers. Per the proposal, FTX.com and FTX.US customers stand to claim a “Shortfall Claim” against the General Pool corresponding to the estimated value of assets missing at their exchange, which the debtors estimate to be about $8.9 billion for FTX.com and $166 million for FTX US.
The debtors estimate that FTX.com and FTX.US customers would receive over 90% of distributable value worldwide if the Bankruptcy Court approves the amendment plan by the end of 2024 Q2.
On The Flipside
- In August, FTX had to shut down its Customer Claims portal after the platform’s bankruptcy claims agent, Kroll, had fallen victim to a security breach that exposed non-sensitive data.
- FTX recently received approval to sell its assets worth $3.4 billion in weekly batches.
- The high-stakes trial of Sam Bankman-Fried has taken a startling turn, with witnesses uncovering his malpractices.
Why This Matters
FTX’s collapse had a very lasting impact on the crypto landscape. Aftershocks from the exchange’s downfall still affect the industry. Users have yet to be paid back, and scams such as these can compel them to fall victim.
Sponsored
Read more about Cardano’s latest DEX, AXO:
Cardano DEX Trailblazer AXO Makes Public Debut
Discover why Charles Hoskinson isn’t attending Web Summit:
Cardano’s Charles Hoskinson Rescinds Web Summit Appearance
