After FTX: beware “we can recover your money”
When an exchange collapses, scammers target its customers twice. Recovery offers are the second hit.
FTX collapsed this month, and a suspicious transfer drained hundreds of millions more on the way down. Many customers can’t reach their money. That makes them the perfect target for the next scam.
Expect these:
- “Recovery services” that can get your funds back, for an upfront fee.
- Fake claim portals asking you to connect your wallet or enter your seed phrase.
- Emails and texts claiming to be FTX, the bankruptcy administrators or a law firm.
- “Lawyers” on social media offering to join you to a class action, for a fee.
Rules that hold:
- Nobody legitimate needs your seed phrase or private key. Ever.
- Real bankruptcy claims are announced through the court and official websites you can find yourself.
- Upfront fees to recover lost money are almost always a scam.
If you know someone who lost money, send them this. Scammers count on people being desperate.