Portal

Billion

<ul class="wp-block-list"><li><strong>FTX to distribute $1.6 billion to creditors on September 30, 2025.</strong></li><li><strong>Warning issued against phishing scams targeting eager recipients.</strong></li><li><strong>Funds to be delivered via BitGo, Kraken, and Payoneer within 1-3 days.</strong></li></ul><h2 class="wp-block-heading" id="strong-ftx-prepares-1-6-billion-third-creditor-distribution-strong"><strong>FTX Prepares $1.6 Billion Third Creditor Distribution</strong></h2><p>As the cryptocurrency world braces for FTX’s third distribution of approximately $1.6 billion to creditors on September 30, 2025, the bankrupt exchange has issued a critical reminder to stay vigilant against phishing scams. This payout, part of the <a href="https://coinmarketcap.com/currencies/fintrux-network/" rel="noopener noreferrer nofollow">FTX</a> Recovery Trust’s ongoing Chapter 11 bankruptcy proceedings, targets holders of allowed claims in the Convenience and Non-Convenience Classes who have completed pre-distribution requirements.</p><div class="article-inline-banner"><a href="https://buy.magacoinfinance.com/coincnewsdisplay" rel="noopener noreferrer nofollow"><img src="https://coincryptonewz.com/wp-content/uploads/2025/07/magacoin-banner-up.png" alt="Advertisement" class="rss-ad-image skip-thumbnail"></a></div><h2 class="wp-block-heading" id="strong-eligible-creditors-to-receive-funds-via-trusted-providers-strong"><strong>Eligible Creditors to Receive Funds via Trusted Providers</strong></h2><p>Eligible creditors will receive funds through distribution service providers like BitGo, Kraken, and Payoneer within one to three business days following the distribution date. This marks a significant milestone in the recovery process following the exchange’s dramatic 2022 collapse, with over $7 billion in assets already reclaimed.</p><figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>(3/3) FTX also reminds customers to please remain aware of phishing emails that may look like they are from FTX and scam sites from channels that may appear to look like the FTX Customer Portal.</p>— FTX (@FTX_Official) <a href="https://twitter.com/FTX_Official/status/1969116799397503187?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 19, 2025</a></blockquote></div></figure><h2 class="wp-block-heading" id="strong-caution-as-community-anticipates-market-impact-strong"><strong>Caution as Community Anticipates Market Impact</strong></h2><p>The latest announcement, detailed in a thread by FTX’s official X account, underscores the trust’s commitment to returning value to affected users. However, the warning about phishing emails and scam sites mimicking the FTX Customer Portal highlights a growing concern as creditors prepare to access their funds.</p><p>FTX emphasized that it will never request wallet connections, urging users to verify all communications through official channels like claims.ftx.com. This caution comes amid heightened excitement in the <a href="https://coincryptonewz.com/breaking-news/altcoin-news/" rel="noopener noreferrer nofollow">crypto community</a>, with some speculating that the influx of $1.6 billion could boost market liquidity and potentially trigger an altcoin season.</p><h2 class="wp-block-heading" id="strong-security-and-transparency-remain-top-priorities-strong"><strong>Security and Transparency Remain Top Priorities</strong></h2><p>The distribution follows a reduction in reserved funds from $6.5 billion to $4.3 billion, reflecting resolved disputes and a streamlined payout process. While the market response has been muted due to the USD-based settlement—limiting direct impact on assets like BTC and ETH—creditors remain divided. Some express frustration over valuations based on 2022 prices, echoing challenges seen in the Mt. Gox repayment saga. As the date approaches, FTX’s focus on security and transparency will be crucial to ensuring a smooth process for all involved.</p><pre class="wp-block-preformatted">Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.</pre><p>&lt;p&gt;The post <a rel="noopener noreferrer nofollow" href="https://coincryptonewz.com/ftx-issues-scam-warning-ahead-of-1-6b-distribution/">FTX Issues Scam Warning Ahead of $1.6B Distribution</a> first appeared on <a rel="noopener noreferrer nofollow" href="https://coincryptonewz.com">Coin Crypto Newz</a>.&lt;/p&gt;</p>

FTX Issues Scam Warning Ahead of $1.6B Distribution

Table of Contents

CoinCryptoNewz

Other articles published on Sep 20, 2025

Pepe & Shiba Inu Long-term Outlook: Are $0.01 and $0.000020 Levels Achievable?

Best Crypto to Buy in Q4: Ethereum, ADA and MAGACOIN FINANCE Flagged as High-Risk, High-Reward Plays

Shiba Inu Set for 138% Surge Amid Regulatory Changes and Futures Listings

Quantum Computing Threatens Bitcoin's Security by 2025

Treasury Seeks Public Input on GENIUS Act Implementation

Dogecoin Declines 3% Amid Neutral Market Sentiment

Join our free newsletter for daily crypto updates!