FTX Restores Full Access to Claims Portal After Cybersecurity Breach

FTX Restores Full Access to Claims Portal After Cybersecurity Breach

The portal allowing FTX customers to file claims with the bankrupt cryptocurrency exchange is again fully operational after a recent security incident. User accounts that were affected by the breach in August have been unfrozen, the failed crypto trading company announced.

Crypto Exchange FTX Ups Security on Claims Portal Following Kroll Incident

The FTX claims portal is once again fully accessible for customers of the cryptocurrency exchange who suffered losses as a result of its collapse in November, 2022. In late August, the company froze some user accounts after a cyberattack against Kroll, the agent managing the claims.

Claimants may now resume activities on the platform, FTX said on Saturday in a post on X, formerly Twitter, updating the public about the case, pointing out that additional measures have been implemented to secure the portal and stating:

Following our review and assessment of the recent Kroll cybersecurity incident, FTX has unfrozen all affected accounts.

FTX suspended some accounts soon after Kroll revealed on Aug. 25 that a cyberthreat actor had targeted a T-Mobile US account belonging to one of its employees. The company described the incident as a “highly sophisticated ‘SIM swapping’ attack” and explained:

Specifically, T-Mobile, without any authority from or contact with Kroll or its employee, transferred that employee’s phone number to the threat actor’s phone at their request.

According to Kroll, the attacker apparently gained access to some files containing personal information of bankruptcy claimants in the cases of FTX, Blockfi, and Genesis. It emphasized that actions were taken to secure the affected accounts, adding it had no evidence that other systems or accounts had been impacted.

Meanwhile, FTX received permission from a bankruptcy judge to liquidate its digital assets valued at more than $3.4 billion in order to repay creditors. Its holdings comprise a number of different cryptocurrencies, including $560 million in bitcoin (BTC), $192 million in ethereum (ETH) and $1.16 billion in solana (SOL).

Do you think that the FTX claims portal is now safe? Share your thoughts on the subject in the comments section below.

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