FTX encourages investors to stay alert and critically evaluate presented information.
FTX, a now-bankrupt cryptocurrency exchange established by Sam Bankman-Fried and Gary Wang, has warned customers about third-party scams and frauds.
According to the alert shared on Twitter on February 2nd, the company is aware of the recent increase in fraudulent activity towards FTX investors.
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The company reminded its customers that neither FTX debtors nor the company’s agents will ever ask investors for “money, fees, payments or any password for <customer> accounts in connection with return or prospective return of customer assets.”
FTX also encouraged customers to immediately contact FTX debtors if they receive a message asking for information connected to FTX or FTX bankruptcy proceedings.
Malicious actors are actively using FTX's downfall to lure investors into their traps by promising to help recover investment losses. Law institutions around the world have also noticed these patterns and issued several warnings to their citizens.
At the end of November 2022, the Singapore Police Force published a warning regarding fake FTX-related websites. In one case, scammers imitated a website allegedly hosted by the United States Department of Justice. The website asked users to log in with their FTX credentials and allegedly “withdraw their funds after paying legal fees.”
The most recent warning about fake crypto-related websites and brokers came from the California Department of Financial Protection and Innovation (DFPI). The institution listed 16 crypto-related brokers and websites, which appeared “to be engaged in fraud against California consumers.” DFPI revealed that customers who fell into the trap of these scammers lost from $2,000 to $1.2 million.
In recent weeks, a bankrupt crypto exchange submitted several court filings and made a number of statements. Most recently, FTX filed a request, asking Sam Bankman-Fried’s closest advisors to cooperate with law enforcement and provide the information needed for the ongoing FTX investigation.