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Beware: scam wave among former FTX customers

by v

Recently, a series of fraudulent e-mails closely resembling legitimate FTX communications have been circulating, urging recipients to “withdraw their funds”. However, these emails are indeed phishing attempts on the part of their sender.

Beware of phishing around FTX

Recently, many people have complained about e-mails that closely resemble FTX’s usual, legitimate communication, urging them to click on a button to “withdraw their funds”. If you are concerned, make no mistake: this is indeed a phishing attempt, and you should never click on the links in this type of e-mail.

In the example shared below by one of FTX’s creditors, the e-mail shared comes from an address similar to that usually used by the company, even to the point of simply displaying “FTX Noticing” in some mailboxes. In this case, the e-mail address includes “Kroll”, just like normal FTX e-mails.

Kroll is an international company specializing in financial restructuring, and was indeed chosen by FTX as part of the exchange’s bankruptcy. Although we don’t know how the users’ e-mail addresses were obtained, Kroll was the victim of a data leak some time ago.

So if you’re an FTX customer, you need to be doubly vigilant, as your address has potentially been leaked.

Naturally, the e-mail is designed to tempt the recipient to click. Among other things, the message assures that the recipient will be able to retrieve their funds as a “priority customer”, a special status that allows them to “follow the process of withdrawing your assets from the FTX platform and depositing them directly into your wallet, thus eliminating any waiting period and legal outcome”, according to the email.

Other emails appear to have been received by some vocal individuals on social networks, notably from people posing as FTX EU, West Realm Shires or other entities.

Timing also plays into the hands of the individuals behind these phishing attempts. FTX recently announced that, following a joint agreement between debtors and creditors, exchange customers could potentially recover 90% of distributable value as part of the exchange’s fund recovery process.

The best way to keep abreast of the news surrounding the restructuring process is to follow the official FTX account on X, maintained by the teams in charge of the bankrupt exchange.

The trial of Sam Bankman-Fried, FTX’s former CEO, is currently underway and is due to end on November 9. We’re running a live article on this subject, in which we transcribe most of what’s being said during the hearings. The trial will resume next Thursday, and according to sources who attended the trial, Sam Bankman-Fried is expected to testify at that time.

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