The post Warning for FTX Creditors: Phishing Scam Hits Ahead of September Payouts appeared first on Coinpedia Fintech News

FTX creditors are once again on high alert! Activist Sunil Kavuri has issued a warning about a new phishing scam. Notably, full names and email addresses of some creditors have been exposed. However, it’s not yet clear if this is from a recent or older leak.

Phishing Warning for Creditors 

Here’s what you need to know to stay safe. Kavuri has urged creditors to be careful when opening any emails related to FTX. He advised against clicking on links, stressed the importance of checking the sender’s address, and recommended always logging in directly to the official claims portal instead of using email links.

This is not the first time FTX has faced data security issues. The collapsed exchange has faced several leaks and breaches in the past, making data protection a regular concern for creditors. 

Creditor Payouts Begin September 30

The warning comes just before FTX begins its next round of creditor distributions. Payouts will begin on September 30. Creditors must have their claims on record by August 15 to be eligible. This comes after a bankruptcy court approved a $1.9 billion reduction in FTX’s claims reserve.

The upcoming payouts will be processed via BitGo, Kraken, and Payoneer. FTX has also asked the court to allow the estate to distribute creditor claims in restricted overseas jurisdictions.

FTX Wallet Moves $35M in Solana

In another development, a wallet linked to FTX and Alameda Research recently unstaked 190,821 SOL worth $35.5 million, sparking attention in the crypto community. Are asset recoveries gaining pace? In recent weeks, several large transfers from FTX wallets have been noted.

FTX Customers Allege Law Firm’s Role in Fraud

During his trial, SBF admitted that he relied on Fenwick & West for business and compliance advice.  However, the firm has denied allegations and said that it only provided standard legal services and cannot be held liable for the exchange’s misconduct.

The Collapse That Shook Crypto 

FTX filed for bankruptcy in November 2022 after it was revealed that customer funds were misused for risky trades through Alameda Research. The scandal led to the arrest, conviction, and 25-year prison sentence of Sam Bankman-Fried in 2023.

The case remains one of the biggest scandals in crypto history, and as we just saw the chaos seems to be continuing…