What can I do if I have funds with FTX?
FTX have filed for Bankruptcy in the US, and have suspended almost all customer withdrawals.
There are a couple of things you can do to protect yourself.
Beware of scammers
If someone contacts you offering to help recover any money or crypto assets, stop and ask yourself “who is this person, and what are they really doing?”
If someone asks you to send them any money or currency, asks you to give them access to any of your accounts or share your screen with them, there’s a strong risk that they’re trying to scam you.
Scammers can imitate real companies.
Always check company contact details are correct.
Even if those details are correct, do not send money to anyone who tells you that you need to send it to protect yourself or your investment.
In summary:
DON’T send money to a stranger
DON’T pay for help to recover money or crypto assets
DO only follow advice given by legitimate sources, such as the FCA
See if Monzo can raise a dispute for you
In some cases Monzo might be able to raise a dispute to try and recover any funds you’ve deposited to FTX using your Monzo account:
where the payment was made after 22 April 2022
where you have a balance available and aren’t able to use or withdraw it
To do that we will need some key evidence, including:
cryptocurrency type
amount purchased
cost, date, and time
It would also be helpful if you can give us evidence to show:
purchase or withdrawal confirmations
activity logs from the FTX site or app
screenshots of your account status, if available
We won’t be able to raise a dispute if the deposit was made with your Monzo card before 22 April 2022. This is because there was a change in the Mastercard rules which applied after this date.
How you can raise a dispute
To create a new dispute request, tap on a transaction in your app, and then scroll to the bottom where you'll see in red text 'Something wrong? Get help'.
On the next screen, scroll down and then tap 'Dispute this transaction'.
From there you'll be taken into the flow to raise a dispute with the merchant through our disputes team.
