FTX creditors are facing a phishing threat as they seek to recover assets left stranded following the exchange’s collapse last November.

Phishing attackers are posing as FTX entities, promising expedited withdrawals to creditors in exchange for transferring their assets to wallets, bypassing legal processes.

Notably, this is not the first time FTX creditors have been targeted by phishing scams. In August, the exchange’s bankruptcy claims agent, Kroll, suffered a breach that compromised customer information.

These attacks come as FTX has proposed a resolution to potentially allow users to recover around 90% of their assets next year.

Additionally, during the trial of FTX founder Sam Bankman-Fried, evidence emerged about the company’s efforts to secure funding from major firms like BlackRock and Google before its collapse.

This funding request coincided with a severe liquidity crisis that ultimately led to the exchange’s downfall.

Notably, BlackRock’s CEO, Larry Fink, revealed the asset manager had invested $24 million in FTX before its collapse last year.

Image Credit: Shutterstock

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FTX Creditors on Alert for Phishing Dangers Amid SBF Criminal Trial was first posted on October 22, 2023 at 11:05 am.
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