Important Security Tip Shared With FTX Creditors Amid Growing Scam

Key Notes Sunil has notified the public of a scam email trend, impersonating Kroll Restructuring Administration LLC in FTX payout distribution. The scam email claims that Kroll has partnered with Digital Disbursements for the remaining payout. Payoneer is the only distribution partner that has been added to BitGo and Kraken. Kroll Restructuring Administration LLC., the liquidator in charge of FTX reorganization plans, has reportedly been impersonated by bad actors. An FTX Creditor activist took to X to notify the public, citing that the perpetrators of the exploit utilized emails. He…

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FTX Trust Seeks to Claw Back $1B from Genesis Digital

The entity responsible for handling cryptocurrency exchange FTX’s bankruptcy filed a lawsuit seeking to recover more than $1 billion in funds sent by its former CEO, Sam “SBF” Bankman-Fried. In a Monday filing in the US Bankruptcy Court for the District of Delaware, the FTX Recovery Trust filed a complaint against crypto mining company Genesis Digital Assets (GDA), its affiliates and two of its co-founders as part of its efforts to recover $1.15 billion of “commingled and misappropriated funds.” According to the filing, the funds were directly tied to Bankman-Fried’s “fraud…

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FTX Recovery Trust Unlocks $1.6B for Creditors This Month

The FTX Recovery Trust, the entity overseeing the distribution of funds from the bankrupt crypto exchange, announced a third tranche of distributions to creditors, worth about $1.6 billion. According to a Friday announcement, the distribution is scheduled for Sept. 30, and creditors should receive the funds in their accounts within three business days of the payment date. The third distribution includes a 6% payout for Dotcom Customer claims, a 40% distribution for US Customer Entitlement Claims and a 24% distribution for General Unsecured Claims and Digital Asset Loan Claims. Convenience…

FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

FTX EU Buyer Backpack Goes Live In Europe

Backpack EU, the owner of FTX EU — the former European arm of the defunct exchange FTX — is launching operations after settling with the Cyprus Securities and Exchange Commission (CySEC). Backpack EU, registered with the CySEC as Trek Labs Europe, announced on Monday the launch of its perpetual futures platform in Europe, the company told Cointelegraph. “After fulfilling our promise to refund former FTX EU customers, we commence our journey to provide one of the first fully regulated crypto derivatives platforms in Europe, starting with perpetual futures,” Backpack CEO…

Fenwick Denies Lawsuit Claiming It Helped FTX Fraud

Law firm Fenwick & West denied allegations from an updated class-action lawsuit claiming it was central to crypto exchange FTX’s fraud and eventual collapse. Earlier this month, FTX users asked to update their suit against Fenwick, first filed in 2023, claiming new information from a bankruptcy and criminal case shared evidence that the law firm “played a key and crucial role in the most important aspects of why and how the FTX fraud was accomplished.” Fenwick told a Florida federal judge in a filing on Monday that the court should…

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FTX Customers Look To Update Lawsuit Against Fenwick & West

Customers of the bankrupt crypto exchange FTX are looking to update their lawsuit against Fenwick & West, one of the law firms once contracted by the company, claiming new information shows it was central to FTX’s collapse. The criminal trial of former FTX CEO Sam Bankman-Fried and investigations in the exchange’s bankruptcy proceedings “produced specific evidence supporting that Fenwick played a key and crucial role in the most important aspects of why and how the FTX fraud was accomplished,” FTX customers wrote in a court filing to amend their suit…