Oct 21, 2023

Voyage Through the Deceptive Priority Withdrawal Scam on FTX Crypto Exchange

Crypto Scam Alert - FTX Clients Face Deceptive Priority Withdrawal Scam
FTX clients face deceptive priority withdrawal scam

Phishing Scam Targeting FTX Users

The Twitter user and FTX creditor advocate Sunil recently warned account holders about a phishing scam targeting the exchange and urged them to stay away from dubious links. Sunil’s post highlighted the ever-evolving tactics of online scammers.

FTX users have reported receiving emails from fraudulent sources such as FTX Trading, West Realm Shires Services and FTX EU. The emails falsely offer FTX creditors an opportunity to bypass waiting periods and legal proceedings to withdraw assets immediately. An example of one such email reads:

The email was sent with the intention of targeting users eager to withdraw assets during the ongoing legal dispute involving Sam Bankman-Fried, the former CEO of the Voyager Crypto Exchange.

The crypto scam was revealed shortly after creditors of FTX celebrated a major achievement by announcing the resolution of customer property disputes.

If accepted by a bankruptcy court, the revised plan would provide significant relief to FTX’s global customer base. According to the proposal, customers will receive over 90% of the distributable value.

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