Topic: FTX Scam : Unable to withdraw (Read 700 times)

It made sense as his old tweets kept being deleted, other things could be his narcistic tendencies and to stall for time IMO. Do Kwon was spouting BS on Twitter after the fall too, just like him. I am not sure if it will work in court or not. + He and his gang were using apps which delete msges, in advance if things go shite ahaha. Will he evade punishment, what you think? He has the connections I mean, his mom is allegedly connected to the DEMS too.

I heard about that, but wasn't that just one of the unconfirmed theories why he did that, and not an actual fact like you presented it to be? Either way, people already started archiving his old tweets so I doubt that tactic worked, even if tried to do that.

He was deleting tweets and that thread was to fool a Total Tweet Counting Bot and it managed to fool it actually. Basically he was browsing his older tweets to what to delete then tweeted the next letter. :/ Ofc he is still not in custody or arrested so he cant pull crap like above and "hacks" happen, ETH swapped to BTC etc.... It is insane. 

He may have stepped down, but he is probably still controlling thing from behind. Regarding Chapter 11, few days ago he changed the tune and now he says that it was a mistake to listen others telling him to declare bankruptcy and if he hasn't, people would get their money out of FTX in a month.  

I agree it is just a bunch of bullshit. If I am not mistaken, he filed for Chapter 11 bankruptcy before stepping down as CEO of FTX exchange, so how does he plan to make it right with the customers?

That's just part of the Twitter thread as he first spelled "what happened" (each comment 1 letter for some reason) and then  explained in short his side of the story and how he plans to make it right by the customers and other usual bullshit. Thread is here by the way https://twitter.com/SBF_FTX/status/1591989554881658880

What the hell is he even trying to say here?

Fuck their defi's and smart lending bullshits, fuck all these financial freedoms done by idiots doing leverage trading with our funds, Quadriga all over again. We are to blame cause this happened. Had a great ammount of money on xmr/perp; bloody ignorants.

More recent news is FTT token just pooped from nowhere and those worth $282 million atm https://etherscan.io/tx/0x87fa620c0302047bee0713f1c128dfa59d7fc4a3466f876be18fda3a3f19bf2c
Don't ever try to buy FTT token anymore because you can get stuck on peak or become other exit liquidity. Just stay away from FTT token and their apps (which contained with virus). Don't try to hope you can recover your balance too because, as you can see from this new post by @SBF

Latest news:

• According to @BitcoinMagazine, FTX lists zero BTC assets on bankruptcy papers despite $1.4 billion of BTC liabilities. Well, as one Twitter user commented, at least they can't dump it on the market!
  
• FTX CEO John Ray confirms the late-night "hack". Says the company is "in contact with, and are coordinating with law enforcement and relevant regulators".
• Meanwhile, multiple sources are reporting that SBF has been detained or placed under house arrest by local police in the Bahamas. Cointelegraph reported earlier that SBF, together with two other former FTX executives and Alameda Research CEO Caroline Ellison, are looking for ways to flee to Dubai, which "doesn't have any extradition treaties"...

This drama will definitely continue until SAM can show itself because I see now that many investors are hunting for it, some even say on Twitter that SAM is on the run whether this is true or not, which is clear, we think this drama is not finished yet.

Ben Armstrong needed a hunter who could find him with SAM, he seemed to want to be angry with SAM for his evil intentions.
There's a lot more about this drama going to be the biggest of the year in my opinion.


https://twitter.com/Bitboy_Crypto/status/1591286819551051776

There is more drama to unfold and we are not done yet. I never thought that SAM and his exchange FTX can scam and had bad intentions in their mind. Reports are coming that owners of FTX had a backdoor in their exchange through which they can withdraw any funds without triggering the On-Chain data alarm bells.



https://twitter.com/BTC_Archive/status/1591365581550551043

This is getting ridiculous!
The fact that FTX and FTX US have been hacked within a few hours after declaring bankruptcy is a joke. Does anyone believe this shit?


source: https://cointelegraph.com/news/tether-blacklists-31-4m-usdt-following-ftx-s-alleged-hack-musk-reacts

YOU ARE RIGHT! I was also that stupid the fraud company localbitcoins.com have stolen me a huge amount of money.  The female Scammer Avelina Tumas is the head of costumer service that just answer the victims we cant unlock your acount.

I learned from the scam of localbitcoins.com, so I keep only around $25,000 in my FTX account, and fore sure we will never get any money back. - If you are not an empolyee of FTX.

Interisting thing is that scammers like Avelina Tumas, Sara Leppänen, Vladislav Alimpiev or Sam Bankman-Fried never get arrestet.

Maybe it will happen to Sam Bankman-Fried because he initiate a huge scandal.

Sigh... People will never learn...

"Not your keys, not your coins."

No matter if it is the biggest or the second biggest crypto exchange in the world, any exchange can go bankrupt, do stupid things (like bribing the democrats) or get hacked. If you hold your keys, nobody can do that with your funds.

The funny thing is, there will always be lots of people who will trust these exchanges and their actions will affect everybody.

update:
FTX Crypto Wallets See Mysterious Late-Night Outflows Totalling Nearly $400M
https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-mysterious-late-night-outflows-totalling-more-than-380m/

https://twitter.com/AutismCapital/status/1591273268677578753


If you think that this can't get any worse but it does someone is stealing people's money. This is literally disgusting whoever is doing this, I hope he gets jailed.
Cryptocurrency reputation is again under fire because the people who hate crypto are out in the open calling it is being used purposely for criminals, gambling addicts, and other negative activities.

I am so astonished people still believe the piece of shit in Sam Bankman-Fried

After all the lies he made in the past few days, people should not be believing what he says by now and yes that's what scammers do. They lie and manipulate people's minds.

For example, before the whole saga was fully exposed. He made the following claims
This tweet has now even been deleted

He said the same thing for FTX a few days ago, only to delete the tweet a day later. He was probably trying to buy some time so he could pay off a select few individuals.


It is hard to say at this point. He is either a scammer or just grossly incompetent for the job he was doing. I believe the latter.

Ahh, you still think that people's funds will remain safe? There are no funds at all, these are just numbers left on the exchange. We have been scammed by these big exchange CEO's.

Just yesterday, there was a tweet where SAM told that FTX US is not affected and today they have filed for bankruptcy for both the FTX and the US Version. Why he gave wrong statement about FTX.US yesterday?

Do you people still think that SAM is not a scammer ?

Sam Bankman-Fried has stepped down as CEO of FTX and the exchange has filed for bankruptcy with the United States, so FTX and FTX us have been declared bankrupt.

But will customer assets after bankruptcy remain safe even though we don't know when we can withdraw them?
Or will this be a common loss, including the customer, too?

Source: https://twitter.com/FTX_Official/status/1591071832823959552

This is why non-traders are strongly advised not to leave funds in exchanges. This is a common problem with the exchanges using customers funds.  FTX is not the only one doing this, Binance and 95% of all exchanges are doing the same. US FTX users have to withdraw while they can asap.

Sam Bankman-Fried from billionaire to bankruptcy? What are the chances of FTX to survive? Sam tried to raise $9 billion of funds to save his company but he appears to be running out of time, governments and regulators are quick to renounce permits and the freezing of assets before potential investors can agree to rally the funds needed. I have doubts that this will end in a nice way. I heard only Justin Sun of TRON remained committed with a worth of $1 billion. Okex, Tether and various companies may be willing to help but with authorities starting to take over the issue, it raises further doubts of a positive resolution.

While this is mainly the doing of Sam Bankman-Fried, CZ played a big role in this. CZ upon realizing not to proceed with the takeover, could have told Sam in private and zipped his mouth on the issue for a while. Instead, CZ made an official statement that fueled the issue worst. CZ won but I guess he created secret enemies and crypto firms won't trust him anymore. Binance years are prolly numbered.

You, me and others who saw ICO, BitConnect, exchange hacks and others; are rarely risking our coins in a centralized system. So I will say some are learning their lessons.

Problem is, in crypto it's easier for newbies to buy and keep the coins in the exchanges. They do not know which wallet to download, how to keep the key safe, even how to create a wallet. It's easier for them to create an account as it's an email account, get the address, find the credit card and buy crypto. Majority think by doing that they are in crypto. But they do not realized there are no deference putting your money in a bank and putting your coins in an exchange. In fact an exchange is worse than having your money in the bank.

We are still in the diaper as a whole in crypto economy. People are learning good use in the hard way. After few years or may be few decades we will see crypto users are more aware about managing their crypto assets, more and more users will prefer decentralized exchanges over those centralized services.

There is no announcement on the landing page, but if you click on "Exchange", it will take you to https://ftx.us/home. And on the top, there is a big warning in red saying that trading could be stopped in a few days. Anyone with active buy/sell orders should close their positions. They also state that withdrawals are and will remain open. If someone wants to take their word for it, that's their choice. I know I wouldn't at this stage.

Maybe this was for their global version of website, but they recently announced they are now going to start stopping withdrawals for US version website.
I currently can't find any notification banner on ftx.us but people should already know what is happening and withdrawing any coin leftovers.
One more thing I am thinking about is what is going to happen with all the people who owns their FTX card from Scam Bankman...

There has been some news on Twitter indicating that FTX resumed withdrawals according to on chain data. The withdrawals are on and off, though. Most members are still complaining that they have pending withdrawals from yesterday. I am not sure if they are actually making withdrawals for all customers, or just specific whales or groups of people.

Some of the wallets
1. https://etherscan.io/address/0xc098b2a3aa256d2140208c3de6543aaef5cd3a94
2.https://etherscan.io/address/0x2faf487a4414fe77e2327f0bf4ae2a264a776ad2

on their page, there is this warning that withdrawal is not possible and that they clearly suggest not to make any deposit on FTX. supposedly they should have made a swap option for holders of TRX and a few more tokens, I haven't seen anywhere whether this has worked successfully.

Quite a mess for those who had their money there.
I assume the USDT freezing was issued by law enforcement in order to prevent a possible exit scam or someone running away with what is left?

Also, I have seen some speculation around social media that this is the work of some hedge fund, looking to make big money by shorting FTT, Bitcoin and even Tether (?).

If someone could please update the status of the withdrawals from FTX, it would be very appreciated I have no idea these people actually have a plan or are actively trying to run away from all this.

Well, more nails in the coffin then - but this time they're from a nail gun.

Another one bites the dust confirmed. Expect a price reversal down from $17K. They're not going to survive this latest round of financial hammering.

To be honest, I don't think that CZ had planned for this to happen, or that he is the cause of the problem.
It is true that many things may never be known by the public, but according to the available information, this had to happen sooner or later. I hope that this will be a good lesson for everyone involved in centralized services and that one should not gamble with other people's money.

Some have pointed out their model is a Ponzi basically and how fragile it is if things descend into a huge mess. Same happened with TerraLuna, Celsius.... oh wait... I see a pattern here...   It was all about appearances and basically they artificially inflated themselves to look big and strong, fake-wealth, "borrowing user funds", "liquidity farm" etc... but biggest problem IMO, people have attention span and memory of a goldfish and they never learn.

Back then ICOs, BitConnect, exchange hacks and incidents Quadriga, Cryptopia etc.... and we still step into the same riverbed over and over and expect something else.  

I read posts FTX guy was a huge manipulator and speculator and basically it was very toxic to the Cryptomarket, his dealings even before this - so I get why CZ wants to purge FTX Founder and the likes out of the system.

"BREAKING: Tether reportedly begins freezing $USDT addresses owned by FTX at the request of law enforcement" - clown emoji

https://twitter.com/BitcoinMagazine/status/1590713876198608902

TBF, SEC is investigating FTX and the massive amount of sponsorship deals they, I dont think the fees alone would be enough to pay those and I think FTX needs also to bail-out Voyager victims because FTX bough the Voyager assets.

https://www.businessinsider.com/ftx-sam-bankman-fried-sports-partnerships-tom-brady-miami-heat-2022-11#ftx-even-invested-in-a-formula-one-racing-team-called-mercedes-amg-petronas-11

That's the smart way to do since buying bitcoin and store it on cex will give you a huge risk to lose your money, so if you plan to buy some bitcoins then hold it better withdraw it and store on your hardware wallet because this is safe destination of your holdings.

At the moment there's a lot of problem happening of one of the biggest exchange exist at this era so most provably this drama will create lots of commotion which can make the price move and discourage some of people to invest on any crypto at this point.

As long as the centralized system will exists in decentralized ecosystem, we will suffer like this. Obviously this is not the last time, there will be many more situations like this are yet to come.

Isn't it expected. Competitors will always try to keep their way clean.
Facebook bought Whatsapp, Instagram and many other raising companies because they want others not to become their big competitor. 

Maybe people that have money on FTX learned the lesson, but even that is highly questionable as I wouldn't be surprised if they put their money again in some other exchange. But even if they won't, there's abundance of new people coming into crypto every day and they tend not to learn from the mistakes of others, like people now didn't learn anything from previous CEX fiascos.


Yep, it is a dick move. He should have kept it quiet until they analyzed the situation but maybe he was just buying the time to dump his FTT tokens, and in the same time has the access to one of the main competitor's data.

I will never trust cex anymore.
Keep buying bitcoin to hardware wallet.

Everyone thought Binance would rescue FTX but looks like those who had their tokens in FTX might be in limbo now



Gotta wait and see what unfolds.

You'd think anyone with significant amounts of money invested in crypto would know this, or even just average investors who know the history of crypto exchanges....but apparently not. 

I'm just learning about what's happening between FTX and Binance, and I don't know about the rest of you but it looks to me like Binance pulled a pretty dick move, even if it was against their biggest competitor.  Good luck to any of you who've got funds on FTX. 

This might be another Mt.gox the same scene and if the dump on their token is uncontrollable then maybe we see more frustrating scenarios coming from people who hold their tokens as well unto their platform users.

I don't believe they don't have funds but maybe they do that stopping the withdrawal to minimize the damage they got due to some bad news happening to them so I guess people need to relax a little bit since for sure they cannot easily do exit scam since they are well monitored by big institutions.

There is no way that FTX would be able to successfully pull off a scam without the entire Wall Street noticing every last detail. Interpol would also be tuning in if that happened. So the worst case is that FTX implodes like Celsius.

Well good riddance to them, they don't seem to want me as a customer anyway. Though it seems that FTX.US is just fine.

rumor was that FTX first offer the bailing out to OKX but declined after looking at their finances as well. of course they'd have to look at the financial status and how much is needed and if its still worth it knowing clients are fleeing. this is really not good for FTX. binance seeing the finance was way too toxic, CZ will really stay out it.

thought we are not going back to $17K. but here we are. nice plan CZ.

https://twitter.com/BitcoinMagazine/status/1590367289848700928

Going once, going twice... 

We're all waiting for updates also but seeing that CZ had said he is to bail out FTX, they may resume withdrawals after the Binance acquisition. But weare not so sure also about this.


And the TOS is scammy and they are telling that they don't cover cryptocurrency.  There is less chance of your funds being recovered if you hold crypto,

then the founder is really at fault in this. so many withdrawals happened in such a short time. this can make large companies also experience financial problems.
Withholding the withdrawal I think is the only option for them. but this will only cause more panic. FTX looks like it really can be turned off this time around.
Storing assets on an exchange is never safe from risk. many aspects can harm us.

I am not sure whether FTX will allow withdrawal anytime soon. They need to have funds in order to fulfill people's withdrawal requests. When everyone is withdrawing at the same, it won't be possible for them to cater to all these requests. If Binance buys FTX, then we may have some hope that people's money will come back otherwise the money is just gone forever.

When you read FTX founder Sam Bankman-Fried removes ‘assets are fine’ flood from Twitter, you will find that FTX does not have assets and hence they deleted the tweet that funds at FTX are safe.

I read somewhere that more than 6 billion USD was withdrawn from FTX in the last few days so I'm not surprised that they eventually had to stop all withdrawals for now.

While I do think  that people will be able to withdraw their money from FTX soon, anyone who was ignoring all what was happening around FTX and still holding their money there was behaving extremely irresponsible. They hopefully learned a lesson not to store crypto on any exchange as no exchange is too big not to fail.

Recently we have seen some really bad scenes when two crypto exchanges Binance and FTX have some issues and one want to dominate the other.

I will not go into details as we already hearing updates on bitcointalk and Twitter but the most frustrating and bad thing is that FTX has disabled the withdrawals and they are not processing them. 

If FTX does not have any funds with them and FTT token is dumping to zero, can we expect another major crypto exchange scam? Why do we have to suffer always?

If you hear any good news about withdrawals on social media or on their official Twitter account, please do share it here.