Topic: Aren't FTX CUSTOMERS Victims? (Read 310 times)

You're not a loser but you must learn self custody, how to take control of your own funds & not to leave them in control of any third party. Unfortunately that was your mistake with FTX, you're not the first & you won’t be the last person to do this though. What you do next is important, do you give up because you got rugged or do you learn from your mistakes? And just to add, FTX users definitely are victims.

I know it must be feeling tough but once the money is gone from your non-custodial wallet to any other address then you should consider it gone.
You must have known this before your invested in cryptocurrencies. If you didn't then again it is your mistake for not researching where you are putting at your money.
All you can do is start from scratch now. One learns from his own mistakes so take it as a lesson and do not be harsh on yourself.
You still have a long journey ahead. Start spending lesser and saving more. You have a decent job because $14 per hour is not so low as you think.
Even if you work just 8 hours a day you still get $112 per day while having so much leisure time left.
Start utilizing your time effectively because time is money. I am sure you will be able to cope up well.

The time is not right to cry and criticize yourself for the FXT exchange. The deeds have happened. Try as hard as you can to straighten yourself out and learn from it (we all learn from our mistakes). Put an end to berating yourself for maintaining your assets on any crypto exchange. Try to let it go rather than allowing others who don't understand cryptocurrency to make you feel inferior about your cryptocurrency investment path.

Everyone is not perfect, we all make mistake sometime, but if you already saw signs that the coin is loosing its value and there were redflags already why you still hold it? it only means that you make one of the few mistakes others did following your emotions , instead of your mind telling you that you need to get out, crypto is an investment, but it does not mean that even the price falls down you will just ignore it, ill let it pass if its bitcoin , but its FTX so its on you, but never give up, invest again but now with caution and knowledge you acquire from this mistake.

If it is me then I would say that it is good enough to earn that amount of money if you are working for 8 hours a day since it will be decent amount when it comes in my country. I'm sorry about what happen to you if that really happened to you. It is your fault when you trusted the platform you have used to store your funds. Crypto wallets are created for that purpose which is to store your own funds and you alone can manage it unlike storing your crypto funds in an exchange platform or centralized wallets where they can steal your funds without you knowing until you open your account. No matter how you blame them for stealing your funds but there's nothing you can doand I would say that you should blame yourself for trusting them and think of it as a hard lesson especially the money you have lost is your hard earned money. We all experienced bad things but make it your strength for doing better next time. Good luck.

You are Victim even though you did nothing wrong. Yea people will say whatever they understand from their end. Using FTX wasn't bad to trade. But the bad thing is you stored your funds there. That was your mistake on your end. So you are suffering from that mistakes. If you had stored your funds in a hardware wallet or non-custodial wallet then today you shouldn't worry anyway. However, take a lesson from the past mistake and go ahead. If you have programming skills then work in marketplace. So that you can earn something.

I'm sorry for your loss. As others have already mentioned, it's not advisable to store money in exchanges. It's a mistake we've all made in the past and are still making, and it's understandable; they are convenient. I'm not going to stand on how much money you were making, firstly because I can't relate to the USA's salaries and it's quite pointless to compare them with those in another country (It's approximately $5–6 per hour in Greece), and secondly because it's irrelevant to the topic. The point is that you lost all your savings, and in the best-case scenario, you might get a small percentage back if and when they liquidate their assets after declaring bankruptcy.

Yes, it is true, I know that it is difficult for anyone to believe that, but it is the truth. The economic situation here in my country has completely collapsed, inflation is constantly increasing and there are no additional resources for the state treasury.

My monthly salary was about $400 several years ago, but as a result of continuous inflation, economic collapse, and the government's inability to increase my salary, the salary is now not worth more than $20!!!!

Of course I quit my job and many people did the same and started their own businesses. Not one can live on such a paltry salary.

Which probably tells you that they're fairly well of anyhow if they're living in the richer parts of a country or at the very least their family is. Unless, they've moved to the city to get a better wage, but that almost never makes sense, and it's always best to commute into the cities rather than living in them, unless you're getting paid top dollar.

$14 isn't top dollar, but it should be fairly manageable wherever you might live. Anyway, I think we're focusing a little bit too much on that fact. They asked for help based on their circumstances, we shouldn't be judging that based on what they perceive as a low wage. Ultimately, Bitcoin isn't a get rich scheme, and therefore shouldn't be treated as one. If you can't afford to lose the money you put into Bitcoin, then you can't afford to invest in Bitcoin.

There's no certainties in life, and I think that's what a lot of investors believe Bitcoin offers.

Yep this is true. 14$ an is the minimum wage salary if the OP leaves on rich State like New York & Washington. I believe the rent of the apartment there is so expensive which is why typical Americans struggle in there daily life with just a minimum wage earnings.

Reference on wage rate on US: https://www.citizenscount.org/news/how-does-nh-compare-minimum-wage?gclid=EAIaIQobChMI7qCSv9mN_AIVgyRgCh0cZgjkEAAYASAAEgJMYfD_BwE

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@OP, There’s still a chance that you can recover some part of your investment once FTX finished there bankruptcy filings or some huge company purchased FTX. You can’t expect a 100% but recovering a cents for a 1$ is already a good thing for all the users affected. Mt Gox is the best example that users getting refund even for so many years of waiting.

Ofcourse they're victims of this FTX collapse but if you're really saved all your savings in the FTX instead of your own wallet then you can't blame anyone because its a big mistake or negligence of only you.

Haven't you know the fact not your keys not your cryptos? And many past incidents which kept reminding the cryptocurrency users and importance of having your own wallet.

Fortunately, there are many people here who will support you, because although few admit that they lost funds on that CEX, I believe that this number is significant because many on this forum promoted Bankman as a crypto messiah, and I did not notice that anyone apologized because of that. In particular, you made mistakes that cannot be corrected, because not only did you trust a completely unknown person, but you also kept stablecoins, which makes no sense. I would advise you not to tell people you know about it, because you are obviously surrounded by people who show no compassion, so they only increase your suffering.


The matter is quite simple, you have to change your attitude towards people, because if you don't show that you have your own attitude and defense mechanism, nothing will change. If you can afford quality psychological help, I would definitely recommend it - because not everyone can make difficult life changes on their own.

While $14 isn't a low paying job even in a first world country, at least most of them. We shouldn't be comparing that to third world countries which have a much lower cost of living. For example, living in the city on $14 an hour is going to be rather difficult, and would be considered on the lower end.

As for the help request OP; I'd just invest in a hardware wallet (do your research on them), and then put my Bitcoin on there. It doesn't sound like you're in Bitcoin to hold, and it sounds like you want to invest, and take some out. So, a hardware wallet will give you the security you need, as well as not relying on a third party. When it comes to trading, you can do it with relatively low risk.

He used ftx.us, so at this point without him giving any more details he might be living within the USA, especially since he used $/h as payment, this is not something others use. And if it's like that, then 14$ is barely above the minimum legal wage, and lower than what California will pay next year.
Anyhow, OP seems like is actually focusing on getting a better job than on the whole ftx scandal or crypto and advice on crypto as a whole so, he might have to open a completely different topic for that.


Username checks out 

If you say you are underpaid, you know how valuable your skills are. You need to have faith in yourself. Try it out by applying to other businesses that might be able to give you better pay. Another choice, you can also look for another means of earning money. For programmers like you, there are many freelancing opportunities. 


Do you really work for the government and earn $20 per month? It sounds unbelievable. However, diligent people like you who found alternative means of earning extra money are always someone I admire.

Sorry for your loss, many people lost their money because they trusted FTX, but this is not the end of the world you can start over, don't despair.

On the other hand, you have to be optimistic and very happy because you get paid $14 an hour!!!!
Believe it or not, I live in a poor country and earn $20 a month through a government job!!! This means what you get in two hours is more than what I get in a whole month!!!!
I know that no one believes this, but this is a fact. It happened because of the very high inflation and the collapse of the value of the local currency in my country against the US dollar.

But despite all that, I am satisfied and get enough through my work in Crypto.

You made a biggest mistake. You should never trust on any exchange even Binance. Next time I will prefer a hardware wallet.
By the way don't give up courts are trying to recover the finds and it will be given back. (I hope so)
But it can take time, don't know how much time. Because I have an example of Metagox. So can't say anything at this time. Wait buddy.

1. You have a skill in programming and yet you're working on a "super low end job?" Yes, the business may need you buy you need yourself more. And it doesn't mean that since you're fairly happy with your current job, you can't be happier elsewhere.

2. If you were looking for "a way to make money," what did you lose, again? Was it USD? Or which crypto was it?

3. You're probably a loser in trusting that crypto that you have, but you're certainly a loser for keeping it on FTX. Bitcoin + self-custody is a much better formula both in terms of security and profit.

4. There are always lessons to be learned. It's just that sometimes it is quite expensive.

My thoughts exactly and it makes me wonder what nation is this user from, lol...

What I'll like to say to the OP at this point is that, OP is doing okay. I think the issue here is dwelling on the past, hoping yo recover what was lost sooner than later but, that isn't going to let it go away. You should just start from where you are at the moment, try buying some more bitcoins and this time, try using wallets in place of an exchange.  Exchanges aren't wallets and should be avoided from saving large some. Be the sole admin of your finance and not have a third party in your business, that's the bitter lesson from FTX and I hope you learned it good.

You've got skill and time @OP, use it.

DON'T HOLD IN AN EXCHANGE. PLEASE, REPEAT WITH ME. D E C E N T R A L I Z A T I O N , THAT'S WHY WE LIKE CRYPTOS

It's a mistake and take it as a lesson, don't be too dependent on what others are saying about you. We all have our life lessons and yours is just phenomenal because of how big the FTX fiasco is.

If you have a programming skill, after working to your day job, make some programs that you can present to your future clients as your sample and make it as your portfolio.

You can do it, you're skilled and you just need to believe in yourself.

For common non crypto dudes, they might call you that, but in here, well....we can only offer sympathy. Shit happens, OP. Just gotta move forward. People experience losses like yours every day, so don't feel too bad for yourself.

About the "job thing", you could try to freelance at least. Try to offer your service in here and see where it goes, but just make sure you have a portfolio to back you up since that's how you would prove that you can program. I would assume you're going for web dev? Try to host your portfolio in Github Pages or Heroku so that people would see and visit your portfolio.
If you want to be paid through crypto in your freelance, I believe LaborX does those, otherwise you can try Upwork.

There is a say that the downfall of a man is not the end of his life but how long he stays on the ground matters. You have kept your hard earned money in an exchange without knowing the consequence of your action. You have a job that pays $14 per hour, which is a big money when you work for a week FTX crash shouldn't be the lost of hope. You have two ways of making money already, you should continue with your work and use your programming skill to earn and don't work for people that will take your skill for granted.

When you already have programming skills and you are still not confident and feel afraid, you have to get up to start building your enthusiasm again. Your job with an income of $ 14 per hour is also a sizable income in my opinion, you have nothing to fear, you just lack confidence. and losing USD on FTX.US is not the end of everything, crypto is not only limited to FTX but crypto is very wide. after the case is over maybe you can get your money back at FTX.US.
and you also need to learn how to store crypto assets properly, so that accidents like FTX don't happen again and you keep all your USD on the FTX exchange. you need a non-custodial wallet that you can manage yourself, your key is your asset

The people that blames you only do so because they don't have any idea of the difference between crypto currency and exchange itself. You didn't lose your money because it's crypto but that you left it on an exchange which is not advisable as they are not completely reliable. So on that note I sympathize with you in your financial loss.

But for someone that is earning 14$ per hour in his job then I'll say you need be grateful cause calculating 14$ per hour times 5hrs a day (assuming you work 5hrs per  day) that's 70$ an amount which many forum users earn from campaigns for a week, some even earn below that amount and are still grateful. What I can tell you, is to keep up with your 14$ hr job in addition to whatever your programming skills can add to it, cause it better to start with a little than nothing at all.

Since you have programming skills which is right now many people are really need an engineer, why you're not offer your service in this forum (service section) or through fiver and it's friend? I'm sure you wouldn't get tricked by other people as long as there's an escrow. I know many people or friends usually take advantage from someone who have other skills, you need to avoid such people and dare to say no to them.

Anyway, you need to learn about non custodial wallet and decentralized exchange to prevent his kind problem happen in the future.

If they start the refund procedure then likely they will get it but don't think so full amount will be refunded and part payments will be processed if it happens and they recover some funds from the FTX.But that's not happening around in near time if we see it but they can keep hopes but for me those who have funds there have been lost.

Not only him many others have thought FTX to be safe heaven for keeping their funds and some also holds their native token FTT which completely lost it's value and those who like him beleive CEX are safe have big lesson to take from this scam and dramatic downfall and insolvency of FTX and people like SBF have only one motive which is to earn profits out of your pockets.

But I would ask @OP how much total you have lost? See we all learn at some point and no need to feel lile loser because you can earn good profits with knowledge here and then those people will seek advice from you and don't feel demotivated by any wrong comments instead gain knowledge of market.

The $14/hour pay job might be low in your country but people have been living at wage rate comparatively really low in third world countries and still investing in bitcoin keeping their expenses aside so you can manage your expenses accordingly.But you can also develop some skills to gain more high paying jobs with different opportunities and rise your financial status and one more thing you can share whatever you want with this community learning from here as well.

$14 an hour and your daily salary is like a week of work here in my country. But yeah, you have a low-paying job if you're in the United States. Keep in contact and be updated on your investment since there is a possibility that FTX US investors will be refunded although highly unlikely at 100% and it might take some time.

As for your career, you seem to have a lot of options since you have confidence in your programming skill. You can give it a go and look for high-paying jobs. But if you're too happy with your current job then why not ask for a wage increase? If you continue to explore crypto projects, you might be able to land a job too.

Being a sincerely good person has got nothing to do with making money. If you add value in a particular area, let's say you remain insistent on earning with the programming skill, it will spur you to hone the skill better and make a name for yourself. It is being known for a particular money making skill that actually makes you money. Be great at what you do, no matter how long it has taken, because if you remain consistent, success both in the form of patronage and money will be assured.

In my country if you are earning $14 an hour then its a good job already considering you are working at least for 8hrs. You should be grateful already for that amount too. Since you have skills on programming, you could increase your income if you venture or work out on some pretty good company giving a lot or bigger compensation. Maybe appreciate what you have cause others are literally struggling compared to you.

14$ an hour is by far not a low-end payment. Not in my country, not in many others. So I think that you're looking at the things from the wrong angle. If you feel it's too low, you may want to adjust your spending habits.
And if you have "some skill in programing" I am sure you could look the things up and set up yourself a cold storage if you don't want to invest in hardware wallet.

Loser? I wouldn't say so. You're one of too many and all this stuff has a learning curve you've "missed". Lazy instead? Most probably, since you could have been reading this or that in the past 3 years and understand why keeping your savings in a/any centralized platform can easily turn into a huge mistake. Take this opportunity and at least learn from your mistakes. Get more knowledge and do the things right next time.

One of the most foolish thing about crypto is to leave your money on an exchange, it has taught some people life lessons that they will never forget when they lose high amount of money.

Many people do not know about crypto, that is why they will blame you for believing in crypto like bitcoin, but the right thing is to not trust an exchange and other centralized platforms and to stay away from shit coins.

Sorry for your loss.

I’m sorry for what happened to you. It’s frustrating to have your hard-earned money disappear like that. I hope you do recover it once everything has been aligned and investigated. Do not worry too much and what other people are trying to say because it’s not their story, and do not dwell on it too much. It’s better to focus on yourself and be Better than yesterday.

Maybe you could use some freelance programming and set up something to have another Source of income. Get gigs through different networks or something.

You can get through this, you just need to push through.

On the bright side, I've heard that it's highly more likely for FTX.US users to gain back their money sometime in the future compared to FTX users. So probably don't give up just yet.

On the other hand — why the heck did you leave your hard-earned money on an exchange? FTX/FTX.US ain't a bank.



As far as I know $14/hr is pretty low if you're from the US. Sounds pretty high if you're from a poorer country, but don't forget that expenses in the US are significantly higher as well.

Low-paying job...$14 an hour?
Dude, are you sure you chose the right place to be pitied?

I dont really have anyone to talk to.. I lost my USD that I had saved up .. I kept it on FTX.US.  If I tell anyone who isnt into crypto.. they say im a loser for trusting crypto.. if I tell anyone else they say im a loser for trusting ftx.

Throughout the whole thing(3 years) I have worked a super low end job.. 14$ an hour.. but the business needs me and I am fairly happy.. But I would like a way to make money... I tried alot of different things but nothing has worked.... I am a sincerely good person.. I have some skill in programming.. but people constantly try to take advantage of me.. and im afraid.