Warning: Phishing Attack Targets FTX Creditors
Just days before FTX begins its payout process, creditors are now being targeted by a phishing attack. Sunil Kavuri, an FTX creditor, raised the alarm about a potential data leak that has led scammers to send phishing emails to creditors.
Potential Data Leak
Kavuri believes that the leak may have originated from FTX or its claims agent, Kroll, exposing users’ full names and email addresses. As a result, scammers are pretending to be the bankrupt exchange in an effort to defraud victims.
Phishing Email Details
A screenshot shared by Kavuri revealed that the phishing emails ask recipients to verify their recovery phrase for security reasons. These emails contain malicious links that are likely designed to steal sensitive information.
Protect Yourself
Kavuri advised FTX creditors to be cautious and avoid clicking on links from unsolicited emails. It is essential to verify sender addresses, check the official claims portal for updates, and rely on FTX’s official channels for accurate information.
FTX Repayment Process
Repayments for FTX creditors are about to begin, making this phishing attack particularly concerning.
Recently, the Joint Official Liquidators (JOLs) confirmed that distributions for small creditors will commence on Feb. 18. Those with Convenience Class claims valued at $50,000 or less will receive full repayment and a 9% post-petition interest rate.
Distribution Details
The funds will be distributed through verified BitGo accounts linked to creditors’ registered email addresses. To prevent processing delays, claimants must confirm their account details via the claims portal.
It is estimated that around 50% of claim buyers, representing $400 million, may not reinvest in crypto. Original FTX creditors, accounting for roughly $400 million, are expected to retain only a portion of their repayments in digital assets.
