Former FTX promoters getting threats in Africa

Many FTX ambassadors reportedly received threats against their lives. These ambassadors asked the FTX team to take action.

FTX was a top-ranked crypto exchange before Nov of last year but collapsed badly following a report by the Coindesk media over the company’s forged financial position. Currently, former FTX CEO Sam Bankman-Fried (SBF) is in jail & court lawyers are doing their best to make evidence & facts visible to find the main culprit.

Recently Coindesk media published a report on those people who promoted FTX crypto exchange, before Nov 2022, among friends, relatives, families, universities in African regions.

The report noted that several months ago, a former FTX promoter said that his reputation also collapsed badly among his relatives & friends after the collapse of FTX Empire because he promoted FTX as the best crypto exchange to trade crypto assets.

The former FTX brand ambassadors were getting upto 40% trading fee commission corresponding to referrals and also an additional $500 income on behalf of the performance of the FTX team. 

Two years back, the FTX exchange tried its best to promote FTX crypto services among college, university students, so many students grabbed FTX’s promotional program as an opportunity to make money via referrals among relatives & friends. 

Some people invested millions under the referral of these people and it was obvious that such people became badly angry against these promoters.

A former FTX promotor said in an interview with Coindesk that he received a call from a person, who registered his FTX account on behalf of his suggestion, & he was crying badly because he lost 20 million naira because of him.

Reportedly the majority of the FTX brand ambassadors were organising crypto-education-focused events in universities but in reality they focussed on increasing the signup of new accounts under referral, in order to get huge referral revenue from the FTX exchange.

The Coindesk report noted that the majority of the FTX promoters are facing threats from their corresponding referrals and they do not feel safe to go in public. 

Some sources confirmed that some of the FTX brand ambassadors have been threatened physically by those they referred to the exchange.

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