Users of Bankrupt Crypto Exchange FX Receive Suspicious Password Reset Emails
Recently, users of the bankrupt crypto exchange FX have been receiving unexpected “Reset Password” emails from the official FX email address. This has left many users confused and concerned about the safety of their funds. There are two possible explanations for these emails: either FX itself is sending them to notify users about the claims process, or malicious actors have obtained a list of email addresses and are attempting to gather login credentials through a fake portal. Users are advised to be cautious and verify the source of any password reset emails.
Deadline for FX Users to File Bankruptcy Claims is September 29
The U.S. Bankruptcy Court has set a deadline of September 29, 2023, for FX customers to submit their claims. The court will not prioritize claims based on the submission date as long as they are filed by the deadline. FX has notified its known customers about this process and provided instructions on how to submit proof of claims. The exchange is currently in debt for approximately $8.1 billion to its customers.
FX Australia’s License Revoked, but Allowed to Offer Limited Services for Claims Reimbursement
FX Australia, the domestic branch of the insolvent crypto exchange, had its license revoked by the Australian financial services regulator. However, the regulator has permitted FX Australia to offer restricted financial services to facilitate the orderly conclusion of its client dealings until July 12, 2024. The regulator has also mandated the entity to focus on reimbursing its clients during this period. FX Australia had around 30,000 retail clients and provided services to 132 local firms.
Hot Take
The situation surrounding the bankrupt crypto exchange FX is causing confusion and concern among its users. The receipt of suspicious password reset emails has raised questions about the safety of funds and the motives behind these emails. It is crucial for users to remain vigilant and verify the source of any unexpected emails. Additionally, the upcoming deadline for filing bankruptcy claims and the revocation of FX Australia’s license further complicate the situation. The regulatory actions taken highlight the need for increased scrutiny and regulation in the crypto industry to protect investors and ensure the orderly resolution of such cases.
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