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FTX Warns Community of Phony ‘Debt Tokens’ and Scams Claiming To Be Affiliated With the Bankrupt Exchange

FTX debtors who control the official FTX Twitter account are warning the community about entities claiming to be associated with the now-defunct cryptocurrency exchange. The company filed for Chapter 11 bankruptcy, and the restructuring team and debtors use the official FTX Twitter account often to inform the community of updates. On Feb. 17, 2023, the debtors issued a warning, stating that the bankrupt firm has not issued any debt tokens.

“The FTX Debtors remind stakeholders to be on alert for scams from entities claiming to be affiliated with FTX,” the bankrupt exchange’s official Twitter account said on Friday. “The FTX Debtors have not issued any debt token and any such offers are unauthorized.”

As the exchange’s restructuring team and debtors warn the community about unofficial tokens, a cryptocurrency issued on the Tron blockchain called FUD, or FTX User’s Debt, has been circulating. Some information about the coin is available on coingecko.com, and as of Feb. 18, 2023, it has been trading for prices between $15.05 and $16.88 per unit. On Feb. 6, 2023, Huobi announced that it had listed FUD, with an initial supply of 20 million.

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