FTX Creditors Warned of Possible Online Scammers – Coinpedia Fintech News

Hundreds of institutional investors and millions of individuals FTX and Alameda creditors are desperate to get their capital back three months after the firms filed for chapter 11 bankruptcy protection in the United States. However, the acting FTX CEO John Ray III has warned that the company may never repay all creditors wholly as over $8 billion is missing from the company’s balance sheet.

As a result, Ray has previously indicated that the bankrupt company may need to reopen to raise more capital to repay creditors wholly. Furthermore, FTX has several independent companies in several countries on different continents.

Nonetheless, billions of assets remain resting with FTX and Alameda awaiting the court’s approval to liquidate.

FTX and Alameda Scams 

With few detailed communications on FTX repayment progress, scammers have been spotted trying to fill the gap. Reports of FTX creditors getting promises to double repayment if they click provided links have increased lately. As such, FTX and Alameda’s creditors have been cautioned to remain vigilant of such scammers with ill intentions. 

“We are aware of active third-party scams and frauds seeking to take advantage of FTX customers. Please note that neither the FTX debtors nor any of their agents will ask you for money, fees, payments, or any passwords for your accounts in connection with the return or prospective return of customers’ assets,” FTX noted.

The prevention of such phishing scams may be challenging as all is needed to compromise FTX customers is the goodwill on asset return. With crypto prices showing recovery signs, the FTX investors would be satisfied to have their assets return on time to also take profits after a year long bear market.

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