FTX Review: Scam & Fake or not?

FTXFTX is a well-known crypto and derivate exchange, not only offering crypto but also stocks and several other products.

But is FTX a scam?

Yes, it is a scam! FTX is not a safe crypto exchange.

Background: On the 11th of November 2022, FTX announced on Twitter that they have opened bankruptcy proceedings in the United States. That was necessary as FTX had to admit, that more than 8 billion us dollars in user funds has been lost. After opening the bankruptcy proceedings even more funds disappeared from the exchange.

Please use Binance or Coinbase instead and always follow the rule “Not your keys, not your coins”.

Tell us about your experience with FTX and share your comment below this review.

About FTX

This is everything you need to know about this crypto exchange at a glance:

Overview of FTX
CompanyFTX Trading Ltd.
AddressLower Factory Road, PO Box 990, Saint John’s, Antigua and Barbuda
CEOSam Bankman-Fried
FounderSam Bankman-Fried, Gary Wang
ContactMail, Ticket System
MarketsSpot, Futures, Stocks, Leveraged Tokens, Volatility, Prediction, Options
ServicesStaking, OTC, Referral, Lending, Borrows, IEOs, API
PromotionsCompetitions, Airdrops, VIP Program, Discounts for FTT Holders
Payment MethodsCredit Cards, Wire Transfer
Fees0.00% to 0.02% maker fees, 0.04% to 0.07% taker fees, several discount options, other fees might apply for different services
AppFTX Pro, available for iOS and Android
KYC3 Tiers with $1000 lifetime (Tier 0), $2000 to $9000 daily (Tier 1) and without limits (Tier 2)
LanguagesEnglish, Simplified Chinese, Traditional Chinese, Turkish, Korean, Russian, Vietnamese, German, Spanish, French, Italian, Dutch, Portuguese, Thai, Indonesian
Allan Garland
Allan Garland

I'm part of the crypto space since 2013 and I strongly believe in it. But I also know how it feels to get scammed and to realize financial losses. With my website Cryptoscam.info I want to support you to stay safe and to give you a platform to share your experiences.

96 thoughts on “FTX Review: Scam & Fake or not?”

  1. Is ftxbuy66(dot)com a legal web address for your exchange? I just want to make sure. Something just doesnt feel right. Thank you,

    • Hey Kenneth, thats a phishing website and definitely a scam. Dont enter your credentials there! The official ones are ftx.us (for the US) and ftx.com.

      • I’m dealing with the same problems. I’m owed 15000.00, they said I had to pay a 2400.00 malicious withdrawal fee, after I paid it, they said I had to pay taxes of 2900.00 upfront.

  2. I had an email saying to update to ftx28(dot)com. Is this a legitimate website? Also, does FTX charge you a withdrawal fee and impose a tax for withdrawals?

    • Hi Ray, I’ve changed the URL so no one clicks there. This website is a scam, you can recognize it for example on the missing HTTPS or that the website only looks good on mobile, but very strange on desktop. Please do not enter your data on this website! FTX charges withdrawal fees, but you can get free withdrawals when staking FTT.

    • Ist ftxpls(dot)com fake ?? I have 60000usd to withdraw but they are asking me to pay 20% tax for this 13000usd to get my money back, please advise this.

      • It should be, also I can’t open the website anymore. But it is none of the official FTX websites and FTX will never ask you to pay a tax.

  3. I have been using FTX on my cell phone and have made a couple of trades. When I tried to withdraw my funds, they are asking me to pay taxes on my withdrawal before they will authorize. This is the web site ftx.ws31(dot)vip/ff. is this legit? Does the IRS require crypto sites to tax the profits?

    • Hi Richard, unfortunately the domain you mentioned does not belong to FTX. Please make sure that you only use the official domains to access the website.

    • I am in a similar situation with this phone app download ftx.su44(dot)vip/qd and I’ve made a few trades myself. And this ftx site emailed me with a gmail ftx address saying that I reached a tax standard and must pay out of pocket 10% to the same address I’ve been sending crypto only claiming to be a tax address.

  4. ftx.su44(dot)vip/qd is a scam. All the crypto I’ve uploaded to this app I thought I was making money not so much anymore and upon withdrawl it’s asking me to pay out of pocket money tax.

  5. Hi. I’ve been dealing with crypto.com and transferring money to FTX28.. After I had trading gains of $158000, I have had to pay about $50000 in taxes, administration fees and withdrawal fees.. Is this a common practice when using this site or is this JUST A SCAM. Any advice would really help.. I’m on the verge of sending them $ 10000 more for a supposed final fee to withdraw $158000… SCAM OR NOT?.. thank you

    • This sounds very much like a scam. Please stick to the official website https://ftx.com/ and have in mind that crypto exchanges will never pay taxes on your behalf (this you have to do yourself). Withdrawal fees are usually up to a couple of US dollars and administration fees are included in the general fees. My advice is to not pay the $50000 and to forget about the initial deposit – as there won’t be any withdrawal afterward. Hope you didn’t lose too much money 🙁

  6. Is ftx[dot]tours illegal? I made an investment here and wanted to withdraw the increased amount, but they say I have to pay 10% tax.

    • Hi Roona, that looks like a scam to me. It is not one of the official domains from FTX and asking for a tax is always a scam. Hope you didn’t invest too much in the site!

  7. Hi Allan Garland, can u say to me if this FTX is good or not? ftxcdy[dot]com I have doubt on this app. Thank u so much.

    • Hi Giuseppe Capizzo, listen to your feeling and stick to the official website and apps! The site you shared does not belong to FTX and will most likely steal your funds.

  8. Hi, have you heard of this tradeftx(dot)net
    When I did withdrawal, it didn’t go through and kept pending for 3 weeks now, customer service told me to wait for up to 3 months as the crypto server is busy.. sounds like scam but your confirmation on that would be great

    • Hi Ramzi, I’m sorry to say but it seems to be a scam. No SSL, not one of the official domains of FTX. And also an actual exchange won’t tell you that you have to wait months to withdraw your money. Withdrawals should be instant or within a few hours. Hope you didn’t lose too much money!

  9. Hi. Please help. This website ftxaus(dot)com is this legit? Same with about, i gained $60k for my tradings and they asked me to pay almost $5kusdt for the crypo taxes. Is this really the thing? Also, there’s a whatsapp number that I have been talking too. Please help.

    • Sadly not, the address is not available anymore and seems to have been blocked (showing a message in Chinese). Hope you didn’t lose any money!

  10. I got message to pay taxes which is fake: Hello, after checking, account 627233 has been legally obtained from FTX: 68305.59USDT. According to the cryptocurrency Tax law, your account has now met the standard for personal income tax, and you need to pay 20% personal income tax, the amount of funds to be paid is: 13661.11USDT

  11. I used this platform (www(dot)ftxss(dot)com) and have just realised that it is a scam. Is it possible to recover any amount or at the least, file a complaint to the relevant authorities?

    • Hi Dan, I’m sorry to hear! Recovering is nearly impossible, all services which promise this are only looking to scam you a second time. But it always helps to file a complaint to the local authorities, hoping that they can do something in general to fight these scams.

      • Hi Bradford, Yes! Contacted by a girl via WhatsApp from Perth who claims to have made millions using this website over the past few years. Strange how the website was only created 3months ago.

        • Yes, Ellie and the mentor request to put more capital investment into the site. They have no idea even what the trades are doing or how they become into profit. Yes, DNS records show the site hosting out of Malaysia, nothing to do with FTX.

          Hopefully others read this scam site and avoid losing massive family savings.

          • Thanks bradford.

            It seems scam. I put 50 usdt and now mentor is asking to put more usdt like 2000 usdt.Is there any way to recover it?

          • Hi David, unfortunately, there is no way to recover it.

            There are services claiming they can help, just to scam again for some more fees. If you go to a lawyer, then they will also ask for a lot of money and it will take years with unknown success. But you can file a report with your local finance authority such as the SEC in the US. Maybe they can stop the scams at one point, so no other people are losing their money.

          • Ha! Ellie contacted me via WhatsApp also but claimed to be in Sydney.. I knew it was a scam but I have no life and was bored. I only wasted $100.. It’s been a good laugh and hopefully while they were busy with me, someone else wasn’t taken for 1000’s..

        • I got scammed by a girl who calls herself Alina claiming she is from Melbourne.

          The ftx website url that she gave me was ftxusic(dot)vip/download/

          And ftxusop(dot)vip

          I wish i had read this thread before. 🙁

          • Hello I got same experience but her name is Adeline she said she’s from victoria. I put 9k usdt but I can not withdraw it.

  12. Is this site a scam? ftxproest(dot)com? They won’t let me withdraw my funds due to me not having finished some wellfare activity involving having to put it 10000 USD to continue trading and get 800 USDT. The app is called FTX pro.

    • Hey, it looks very much like a scam. It’s none of the official FTX domains and FTX will never ask you to deposit more in order to do a withdrawal. I can only recommend not depositing any further, hope you didn’t lose too much with the scam.

  13. Hi Allan,
    Yes I downloaded both the FTX and the FTX pro (international) from the Google app store.
    The other one FTX US is apparently not available officially on Australia atm and can only be accessed by a invitation code which I was able to obtain.
    I set up all three accounts and started reading futures on the FTX US app. I was able to trade and withdraw my funds easily without issue. The site looks authentic and very much in line with the other two apps that I mentioned above
    I only asked you because I have had so much trouble with crypto of late with being scammed etc etc.
    I do hope that now I have found an authentic trading app.
    Thank you Allan for all your help.

  14. I too have been randomly contacted on Skype by a girl in Perth calling herself Trixie Smith. She is from Perth, Australia apparently. She also wanted me to register at ftxusindex(dot)top. I’m glad that I came here first.

      • Hi Bradford,

        apparantly ftxusindex claimed that they needed to upgrade said site. The new address is ftx(dot)finusindex(dot)com

        However as Allan has pointed out its a scam site. I tried to withdraw coins but they wanted 19% tax.

        Ellie is a high class scammer my friend.

  15. Hi Allan

    Is ftxproest(dot)com scam?

    It seems look different to ftxpro which I downloaded from the app store. And I can’t find ftxproest from my purchase list.

    I already made a trade and they have my details like email and phone number which I put in when I join the app.

    What should I do?

    • Hi Kevin,

      as it is none of the official FTX websites I assume it is a scam as well. Currently, ftxproest(dot)com is also redirecting to ftxproakp(dot)com for me.

      When you already started trading there, my suggestion is to stop any further deposits and try to withdraw your funds. If they are asking for some additional fees or taxes, then it is a scam and the chances to get your money back are very low.

      About the email and phone number you would need to be very suspicious then, as they could send you further mails or phone calls (also under different names). Always verify the other party when you get contacted.

  16. Hi Allan,
    In furtherance to my request about FTX US I did get a response from both FTX and FTX Pro (international).
    FTX US is a fake app and nothing to do with FTX at all.
    FTX were unaware of this site and quoted that it was a very elaborate scam and would be taking steps to have it removed.
    Fortunately I only lost a few hundred dollars. It could have been a lot worse!
    These fake apps are getting more and more difficult to determine etc.
    Thank you for all your efforts on this website…

    • Sorry to hear that you lost a few hundred dollars, but great to hear that they could confirm it with FTX and they will get it removed! Hopefully, no one else falls into this scam then.

  17. Is FTX.us real? I have been with them, trading, receiving funds, withdrawing, sending etc. for 4 months. I am waiting for a wired deposit to post. It didn’t so I opened a support ticket. They promptly shut down my account and said my deposit would be returned to my bank. I hope I can get my monies in FTX.us out. I had to open a support ticket to move my crypto to USD to hopefully withdraw.

    • Hi Beth,

      I’m sorry to hear that you have issues with FTX.

      FTX.us is the official website for customers of the United States, so it is not a scam. Also, I don’t know why they did close your account, they should refund you all the funds on the account.

  18. ftx2wallet(dot)xyz I suppose is a scam as well? i lost a couple thousand if so. it’s nothing that I wouldn’t be able to make back on my own fortunately but it’s disheartening to know that I’ve been scammed.

  19. Hi Allan,

    When you open the website ftx8899(dot)com it come up with the logo FTX US and it make you think it’s legitims.

    But reading all the previous answer I BELIVE I’m un other victims of a scams, if that is that case I’m lost some big money and never will be recover. We need to stop those people please before they continuing scan more and more people.

    There is any way you can help please.

    • Hi Edoardo, I’m sorry to hear that you have been scammed. The mentioned website is indeed a scam and already has been flagged as a phishing website. To my knowledge, there is no way to recover the funds other than to talk to the police and hope that they can catch the criminals.

  20. Hi,
    I matched a girl on a dating app and she has been speaking to my on WhatsApp recommending I trade using ftxcap(dot)vip

    Could you have a look into whether this is legit or not as it seems to good to be true – I haven’t invested much because I was uncertain.

    • Hi Gavin, promoting dubious crypto investments over dating platforms is a common scam and the website you mentioned has nothing to do with FTX. Please stay away from it!

  21. I have been part of FTX US for a couple of months after making significant gains they will not allow me to withdraw funds asking more to deposit specific amounts into the account to prove i am not money laundering. After I did they then said that I have to deposit more funds

    • It is, as the website has nothing to do with FTX. Please don’t download the app from this website or deposit any money.

  22. Hi Allan,

    It might be time to remove the words: “FTX is a safe crypto exchange”. It is definitely not safe.

    Also, users need to be told not to deposit funds on FTX until their viability as a business has been confirmed (which I doubt will happen).

    • Hi Paul,

      you are right.

      I added a general update two days ago and did rephrase the words as well now.

      The exchange (top 3 or top 4 by trading volume) seems to be history, they stopped all withdrawals and apparently used (and lost) customers fund for there other company, Alameda Research.

  23. does any one use or tried FTXvip(dot)tip? they claim that this is short term Trading 30-300 Seconds with a profit 40% if BTC increases 0.001 during your trade of 30 seconds and can be up to 100% if you do trade 300 seconds .is it real or scam? I’m still in doubt i tried with small amount and make win and for sure loss of USDT. 2 issues created the doubt:

    1- you can buy USDT directly you need to buy via crypto.com and make a withdraw and deposit.
    2- the high margin referring to the increase “0.001” in price

  24. Good day to everyone,

    I would like to share that I am also a victim of this FTX scam … $36,000 AUD invested. As saying…It’s good to be true. I’ve earned an income profit of 195 K USDT. I can’t withdraw any single cents, and advise that I have to pay 50% (deposit) so I can do my withdrawal and to prove my identification and authenticity etc.

    The style is they using Binance as a spring loader. Example:

    Your Bank – Binance – FTX.

    It is emotionally distressing, my hard work money (savings) gone. True, we cannot recover our money at all. Authorities cannot do anything for any recovery.

    Still in the process of depression and acceptance.

    Stay safe everyone… never go to FTX at all.

  25. Is FTX31 a legit app? I still have funds in there that I need to withdraw but they are saying that “as FTX is currently filing bankruptcy and is in the process of liquidating its assets. Now for investors’ tunds to be organized, to assist in withdrawals, but require users to pay the last 5000 fuds as a deposit.” If this is a scam I am totally screwed as I have withdrew from longterm accounts to fund this FTX.

    • Hi, sorry to hear that! I don’t know FTX31 myself, but a request to deposit more funds in order to withdraw something is always a scam.

  26. Hi Allan,

    I probably don’t need to ask this based on all the comments above but does ftxssn(dot)vip sound legit or scam?

    Also to all the other readers and contributors, I was wondering of any of you had been contacted by a female by the name of Michaella based in Hong Kong but claiming to be from Melbourne?


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