A phishing attempt is being launched against FTX’s creditors, just days before it begins its much-anticipated payout process.
Sunil Kaviuri, a FTX Creditor on X warned of a data breach and phishing scams.
According to Kavuri, the leak likely stems from FTX or its claims agent, Kroll, exposing users’ full names and email addresses. In order to scam victims, criminals are pretending to be the insolvent exchange.
Kavuri shared a screenshot that reveals one of the emails phishing encourages recipients to confirm their recovery phrase as a security measure. A malicious link is included in the message, and it’s likely intended to steal personal information.
Kavuri warned FTX creditors against clicking links in unsolicited email. He advised them to verify sender addresses, check the official claims portal for updates, and rely on FTX’s official channels on X for accurate information.
This latest scam follows a series of phishing attacks that have plagued FTX creditors since the exchange’s collapse.
FTX refund
The timing of this loan is particularly important, because repayments are just about to start.
Earlier in the month, FTX Digital Markets Ltd. Joint Official Liquidators confirmed that small creditor distributions will begin on February 18. Those with Convenience Class claims—valued at $50,000 or less—are set to receive full repayment and a 9% post-petition interest rate.
The funds will be distributed through verified BitGo accounts linked to creditors’ registered email addresses. For faster processing, all claimants should confirm their account info via the portal.
Several industry leaders have stated that this payment would further stimulate the bull-market. Kavuri calculates that about half of claim purchasers, who represent $400 million, would not likely reinvest the money in cryptocurrency.
The original FTX lenders, who are also responsible for about $400 million of repayments, will retain a fraction in digital assets.
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