The post Phishing Scams Target FTX Creditors Amid Ongoing Repayments appeared on BitcoinEthereumNews.com.

Crime The long-awaited compensation process for FTX’s creditors has sparked a new round of cyber threats, as scammers try to exploit the latest payout phase with convincing phishing campaigns. The bankrupt crypto exchange issued an urgent security alert this week, warning claimants not to fall for fake recovery emails posing as official communication. Multiple reports surfaced after the third round of creditor repayments began at the end of September, totaling roughly $1.6 billion in distributed funds. The scam messages, which closely resemble authentic updates from FTX’s restructuring administrators, are designed to trick users into visiting fraudulent websites or connecting their crypto wallets. Cybercriminals appear to be impersonating both Kroll Restructuring Administration and the FTX Recovery Trust—the two entities responsible for managing and processing creditor claims. These fake messages often reference payout percentages, “distribution portals,” and instructions to verify accounts, all intended to lure victims into sharing sensitive information. FTX emphasized that its official communications will never ask users to link external wallets or access third-party websites. All legitimate updates are handled exclusively through the verified FTX claims portal. The warning followed the platform’s third major creditor distribution, which included both domestic and international customers as well as unsecured claimants. Each participant had to pass identity verification before payments were released via approved channels. The process, according to FTX, generally takes several business days to complete. Phishing attempts have become a growing threat across the crypto sector, particularly during major payout events or airdrops when large sums of money are in motion. Blockchain security firm ScamSniffer estimated that over $12 million worth of crypto was stolen through phishing schemes in August alone—an indicator of how sophisticated these operations have become. The fake recovery emails targeting FTX users are especially deceptive, promising inflated repayment ratios between 118% and 142% of their original…

---

Filed under: News - @ October 6, 2025 2:02 am