Ripple‘s Chief Technology Officer (CTO), David Schwartz, has sounded the alarm regarding a surge in scams targeting customers affected by the collapse of the crypto trading platform FTX. With the bankruptcy process underway and potential reimbursements on the horizon, opportunistic scammers are preying on vulnerable victims, aiming to capitalize on the situation.
The Scam Surge Amidst FTX Bankruptcy
As reported by Bloomberg, FTX informed a bankruptcy judge in January that creditors with proven losses are likely to receive full reimbursement. This revelation has spurred scammers into action, reaching out to FTX users with promises of expediting claims or recovering assets from the troubled exchange. However, these offers are fraudulent attempts to deceive users and potentially abscond with their assets.
Ripple CTO’s Critical Warning
In response to the escalating scam attempts, Ripple’s CTO, David Schwartz, has issued a crucial warning to the crypto community. Schwartz highlights the circulation of scam emails targeting FTX customers, falsely claiming that immediate action is required for their claims. These deceptive tactics exploit users’ anxieties about missing out on potential reimbursements, urging them to connect their crypto wallets to verify eligibility or expedite the claims process.
There are some scam emails circulating claiming that you need to do something about your FTX claim. Don’t use the links in those emails. You can check the status of your claim at the official portal:https://t.co/4AvGkii3kh
— David “JoelKatz” Schwartz (@JoelKatz) March 21, 2024
Schwartz advises users against clicking on links in scam emails, emphasizing the importance of accessing the official FTX claims page directly. Users must recognize that the deadline for filing a proof of claim for customer claims has already passed, set at September 29, 2023. Remaining vigilant and cautious in the face of such scams is paramount to safeguarding one’s assets and personal information.
Partnership for Awareness
This article is brought to you in partnership with Ripple, as part of our commitment to fostering awareness and security within the crypto community. Stay informed, and stay vigilant, and together, we can combat fraudulent activities and uphold the integrity of the crypto industry.
