FTX creditors, already reeling from the exchange’s catastrophic collapse, are confronting a new wave of sophisticated phishing attacks. These scams exploit sensitive data stolen in the Kroll breach, luring victims with promises of a fake ‘ASTER’ token airdrop through fraudulent claims portals designed to drain their digital wallets. As creditor advocate Sunil Kavuri sounds the alarm, the timing of these attacks—coinciding with progress on repayments—has boiled over into legal action against Kroll. In a parallel development, the X account of convicted founder Sam Bankman-Fried has been resurrected by a friend, revealing a monitored prison correspondence address as he continues his appeal.
about FTX Creditors Targeted by Fake Airdrop ScamBankman-Fried
0 posts last weekFTX Trust Sues Genesis Digital Over $1.15B Fraudulent Transfers
The FTX Recovery Trust has launched a major legal offensive against Bitcoin mining firm Genesis Digital Assets, filing a lawsuit in Delaware bankruptcy court to claw back $1.15 billion in allegedly fraudulent transfers orchestrated by Sam Bankman-Fried. The complaint paints a picture of reckless investing using commingled customer funds while FTX was secretly insolvent, marking a significant escalation in efforts to recover assets for creditors burned by the exchange’s catastrophic 2022 collapse.
about FTX Trust Sues Genesis Digital Over $1.15B Fraudulent TransfersSam Bankman-Fried Breaks Silence on Social Media After Two Years in Prison
Sam Bankman-Fried, the former FTX CEO serving a 25-year sentence for a major crypto scam, has resurfaced on social media after two years, sharing insights on employee dismissals and corporate challenges. His posts sparked debates about his access to social media from prison and raised questions about potential legal strategies for a presidential pardon, as his family seeks relief through connections in the Republican Party. Following his tweets, the FTT token saw a brief surge but faced pressure amid a broader market downturn.
about Sam Bankman-Fried Breaks Silence on Social Media After Two Years in PrisonSam Bankman-Fried Reflects on Job Loss and Seeks Presidential Pardon
Sam Bankman-Fried, sentenced to 25 years in prison for his role in the FTX collapse, recently expressed on social media that firing employees is extremely difficult, empathizing with government workers facing layoffs. His parents are actively seeking a presidential pardon from Donald Trump, hoping for clemency similar to that granted to other high-profile cases. Despite the challenges, Bankman-Fried noted that many firings are not the employees’ fault, reflecting on the broader issues within workplace management.
about Sam Bankman-Fried Reflects on Job Loss and Seeks Presidential PardonSam Bankman-Fried Discusses Employee Terminations and Corporate Management Challenges
Sam Bankman-Fried returned to Twitter after a two-year hiatus, discussing the complexities of employee terminations and corporate management. He expressed that firing employees is challenging and often not their fault, highlighting mismatches between company needs and employee roles. Bankman-Fried noted industry-wide hiring issues, emphasizing that retaining employees who lack effective management or clear roles is unproductive.
about Sam Bankman-Fried Discusses Employee Terminations and Corporate Management ChallengesSam Bankman-Fried Seeks Presidential Pardon Amid Criticism of Biden Administration
Sam Bankman-Fried is making a last-ditch effort to secure a presidential pardon from Donald Trump, criticizing the Biden administration and Judge Lewis Kaplan, who presided over his case. Despite being a major Democratic donor, SBF claims innocence and seeks sympathy from the Republican party, hoping to leverage shared frustrations with the judiciary. His parents are also appealing to Trump for a pardon, potentially positioning him as the second crypto figure to receive such clemency from the former president.
about Sam Bankman-Fried Seeks Presidential Pardon Amid Criticism of Biden AdministrationSam Bankman-Fried Forfeits One Billion Dollars in Assets Following Conviction
Sam Bankman-Fried has forfeited approximately $1 billion in assets, including two private jets, significant political donations, and a major stake in Robinhood, following a court order. The forfeiture includes 55.2 million Robinhood shares, two aircraft, and various cryptocurrencies. Despite pleading not guilty to fraud charges, he was convicted and sentenced to 25 years in prison, with ongoing appeals regarding the trial’s fairness.
about Sam Bankman-Fried Forfeits One Billion Dollars in Assets Following ConvictionFTX Repayments and Their Potential Impact on the Crypto Market
FTX has begun repaying $1.2B to over 1,500 former users, potentially restoring confidence in the crypto market and benefiting meme coins like Best Wallet Token. The total payouts could exceed $16B, impacting market dynamics as investors react to the ongoing recovery from the exchange’s collapse. The Best Wallet Token presale has raised over $10.2M, offering exclusive benefits to holders, including voting rights and lower transaction fees. Investors are advised to conduct thorough research and consult financial advisors before investing in this volatile market.
about FTX Repayments and Their Potential Impact on the Crypto MarketFTX Begins Repaying Creditors After Long Wait Amid Market Challenges
FTX’s bankruptcy estate has begun repaying creditors, distributing $1.2 billion to those with claims under $50,000 after 27 months of uncertainty. Sunil Kavuri, an advocate for affected customers, warns against risky investments with the returned funds, urging caution amid ongoing market volatility. The estate still holds over $16 billion for future repayments to larger claim holders.
about FTX Begins Repaying Creditors After Long Wait Amid Market ChallengesFTX Begins Creditor Repayments Amid Upcoming Solana Token Unlock Concerns
FTX has initiated a creditor repayment program, distributing $1.2 billion to smaller claim holders as part of a total compensation plan estimated between $14.5 billion and $16.3 billion. However, many creditors may only recover a fraction of their original holdings, with repayments based on asset values at the time of FTX’s collapse. Additionally, 11.2 million SOL tokens are set to unlock on March 1, potentially impacting market dynamics.
about FTX Begins Creditor Repayments Amid Upcoming Solana Token Unlock ConcernsFTX Creditors Start Receiving 1.2 Billion Dollars in Initial Payouts
FTX creditors have started receiving $1.2 billion in initial payouts through Kraken, with those holding claims under $50,000 receiving full reimbursements plus 9% interest. Larger claimants, owed over $50,000, will wait until 2025 for their distributions, as the bankruptcy process continues following the company’s collapse in November 2022 due to financial mismanagement and fraud.
about FTX Creditors Start Receiving 1.2 Billion Dollars in Initial PayoutsParents of Sam Bankman-Fried Seek Pardon from Donald Trump
Sam Bankman-Fried’s parents are seeking a pardon for their son from former President Donald Trump, following his 25-year sentence for fraud in 2024. They have engaged with Trump’s associates but have not confirmed direct contact with the White House. While some former FTX executives received sentence reductions for cooperating with investigators, Bankman-Fried’s prospects for clemency appear uncertain, despite speculation fueled by his Democratic connections and comments from figures like Elon Musk.
about Parents of Sam Bankman-Fried Seek Pardon from Donald Trump