FTX Customers all over the world will regret making this decision. to Register with the bankrupt cryptocurrency exchange. Add insult to injury to injury, they’re now the targets of scammers pretending to be The U.S. Department of Justice.
Police in Singapore Saturday warned about Website pretending to be Hosted by The DOJ—and supposedly helping FTX Users are able to recover their funds. Site informs visitors to Log in to their FTX Password and username It then claims they’ll be able to After paying the legal fees, withdraw your funds.
“The site is likely a phishing website for collecting login credentials,” According to the police according to Channel News Asia.
FTX imploded in dramatic fashion this month after getting hit with $6 billion in withdrawal requests over three days—the crypto equivalent of a bank run. It declared bankruptcy on November 11th, the same day as Sam Bankman Fried, founder of the company, resigned from his position as CEO. In the aftermath of the collapse, calls for stricter regulation of cryptocurrency have risen dramatically.
John J. Ray III is the new CEO of the company. The strategic review of all global assets has been initiated as part of Chapter 11 bankruptcy. Ray also helped clean up the Enron mess. to Which ex-US Treasury Secretary Larry Summers compared to the FTX fiasco.
This week Ray said he’s never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information” as he’s seen at FTX.
“The whole operation was run by a gang of kids in the Bahamas,” CoinDesk was informed by a source familiar with the subject under strict anonymity.
These comments offer little comfort. to FTX Customers were left in panic by their holdings FTX They were frozen. However, it offers an opportunity to scammers Looking to Profiteer from their despair.
In Singapore, retail investors They are not the only ones who have been burnt. by FTX. Temasek is a state-owned holding company that holds the government’s shares in the crypto market. It released a statement this week, stating that its stake was now worthless. It conducted eight months of diligence. FTXAccording to the statement, this included reviewing audited financials which showed that the company was profitable. It invested $210 millions in FTX International and $65 Million in FTX US.
“While this write down of our investment in FTX will not have significant impact on our overall performance,” It wrote, “we treat any investment losses seriously and there will be learnings for us from this.”
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