Friday, September 29, 2023

After a computer attack, FTX is strengthening security measures for its claims portal

Bankrupt cryptocurrency exchange FTX has restored its customer complaint portal, which was closed due to a cyberattack. Those affected can now continue to assert claims for assets that they had on the stock exchange before the exchange went bankrupt.

On September 16, FTX issued a statement via X (formerly Twitter) confirming that none of its systems were affected by the incident involving its designated bankruptcy trustee, Kroll.

It was announced that account holders of the now-defunct cryptocurrency exchange will be able to access their accounts and proceed with the bankruptcy filing process for digital assets they held on the exchange before it filed for bankruptcy in November 2022.

The complaints portal allows customers who had accounts with FTX, FTX US, Blockfolio, FTX EU, FTX Japan and Liquid to access their account information and file complaints as part of the company’s restructuring.

On September 11, Cointelegraph reported that approximately 36,075 customer claims worth $16 billion were filed against FTX and FTX US, of which 10% were accepted.

It also noted that 2,300 non-customer claims have been filed against the company, including claims from Genesis, Celsius and Voyager.

FTX said that freezing the accounts was a precautionary measure and explained that it had implemented additional security measures.

No FTX systems were affected by the Kroll incident and freezing accounts was a precautionary measure.

This comes after numerous issues with the claims portal were reported recently.

On August 27, FTX declared a temporary suspension of the accounts of affected users who accessed its complaint portal after the cyberattack against Kroll was revealed.

However, users can still submit a proof of claim via Kroll’s online customer support form and by mail.

The breach allegedly exposed non-sensitive data of certain customers who had filed complaints. At the time, FTX said it was monitoring the situation and ensuring account passwords, systems and funds were not compromised.

The customer complaint portal was launched on July 11, but the reason why it went offline after just an hour is unknown.

Nation World News Desk
Nation World News Desk
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