Management of bankrupt crypto exchange FTX has issued a warning that creditors should beware of phishing campaigns. Notably, this statement comes after the FTX Recovery Trust commenced its third settlements distribution following the exchange’s shocking collapse in November 2022.
The warning statement read:
Please remain aware of phishing emails that look like they are from Kroll or the FTX Recovery Trust and links to scam sites that may appear to look like the FTX Customer Portal (claims.ftx.com), such as the examples shown below. Reminder: We will never ask you to connect your wallets.
Notably, these phishing emails appeared to be from either Kroll Restructuring Administration or the FTX Claims Department. These emails shared different directives, directing unsuspecting users to visit their “distribution portals” or a fake “FTX Customer Claims Portal”.
One of the messages read:
Kroll, the restructuring administrator for FTX’s Chapter 11 bankruptcy, is preparing distributions, with estimated recoveries of 118-142% of petition-date claim values due to significant asset recoveries.
To access your funds, please review the email from our trusted partner, Digital Disbursements, at noreply@digitaldisbursements.com (check spam/junk folders) for instructions to set up your account. Verification is required to process your distribution. Take action promptly to ensure timely access to your entitlement. Delays may impact your recovery.
For context, phishing emails/scams are fraudulent messages designed to trick recipients into revealing sensitive information, such as passwords, credit card details, or account credentials, thereby allowing bad actors unauthorized access to personal assets and funds.
Following the exchange’s collapse in 2022, the restructuring team managing FTX’s bankruptcy process commenced the court-approved organization in October 2024, earmarking $16.5 billion to creditors.
After the payout round issue on September 30, over $7.8 billion has now been distributed. Despite this progress, concerns over fairness persist, as smaller claims below $50,000 have been overcompensated by roughly 120%, while larger claims exceeding $50,000 have received only about 72.5% of their entitled value so far.
