*🚩In November 2022, the richest man in crypto had $26 billion.*



8 days later, he had nothing😳

▪️Yes, Sam Bankman-Fried orchestrated the biggest scam in crypto history.

At 30 years old, he was running FTX, the second-largest crypto platform in the world, secretly transferring customer funds from FTX to his company Alameda.

Alameda used this money to speculate on the markets with risky bets. Dubious investments. Massive losses.
These clients thought their money was safe on the platform, but...

When the truth was uncovered, it only took 3 days for clients to withdraw $6 billion from the platform, but FTX no longer had the funds to reimburse them.

In 9 days, $32 billion in market capitalization evaporated.
1 million clients found themselves blocked because their money had disappeared.

Sam was arrested in the Bahamas and will face 25 years in prison until 2047
#GateSquareAprilPostingChallenge $BTC
BTC0,57%
View Original
post-image
[The user has shared his/her trading data. Go to the App to view more.]
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin