While tokens presented as compensating for losses suffered by users harmed by FTX are emerging, the debtors in charge of the platform’s bankruptcy say they have not issued any tokens and that this type of token is not authorized. FTX calls on its aggrieved customers to be careful not to get scammed. The platform has also published the official channels through which its aggrieved customers can inquire to avoid being scammed.
FTX has not issued any tokens to refund its customers’ funds
While FTX customers are still waiting to get their frozen funds, tokens purporting to guarantee repayment are popping up one after another. These are scams, FTX warns. Indeed, the debtors in charge of FTX’s bankruptcy have claimed that they have not issued any debt repayment tokens. Such offers are not authorized, they insist.
FTX’s debtors have not specifically named any tokens. In recent days, several tokens purporting to be compensation for FTX’s losses have emerged. Perhaps the most popular of these is a token called FUD, which stands for “FTX User Debt”. Developed on the Tron blockchain and listed on the Huobi Exchange, FUD has reached up to $70. As a result, the token has placed itself in the top 50 cryptocurrencies in terms of capitalization. It is currently trading at around $15.
Scams in the form of token refunds of funds blocked on failed platforms are common. Last year, a Frenchman was scammed out of 300,000 Euros, believing he was buying a token to help him recover his blocked funds on a failed platform. Fortunately for the victim, one of the perpetrators was arrested and sentenced to 4 years in prison.
Official channels of communication with FTX customers
In a public statement, FTX debtors reiterate that the process of refunding blocked funds on the FTX platform is completely free. To this end, FTX has made public the official communication channels through which FTX customers can report any scams or verify information.
The process of reimbursing the funds frozen on FTX will obviously be long and risky. FTX customers should therefore exercise patience and caution. If you are an FTX customer, you should be wary of requests for money to repay your assets. Instead, you should follow the legal process very closely. If you have not already done so, register with the New York District Attorney’s office.
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