If you’re unfortunate enough to have funds in recently crashed FTX exchange you may be wondering what your chances are of recovering your crypto. Here’s an enquiry we received yesterday (10th November 2022)
As many others I did not manage to move my funds of FTX before they stopped withdrawals.
Hoping you could help and move the funds?
Our take: It’s not possible to recover any funds from FTX at the moment and we doubt it ever will be. In our opinion all investors money is gone and it may be several years before investors see any compensation, if ever. Once again we stress the phrase “not your keys, not your coins”. If your crypto is valuable, you should keep it on a hardware wallet not on an exchange. This means that you control the keys. Having your coins on an exchange means the exchange controls the keys, not you, and if the exchange goes bust then you lose your coins.