Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Technology
Jedidajah Otte and Clea Skopeliti

‘The money is gone’: people who lost out in FTX’s collapse

FTX app on phone screen
People tried to move funds using the FTX app to no avail. Photograph: Leon Neal/Getty Images

The UK parliament this week heard during testimony on the failed cryptocurrency exchange FTX that most of the money it held came from institutions. Yet with about $8bn still owed to depositors, its collapse has still left many individuals nursing significant losses.

Here we speak to some of those retail investors about the huge sums they were unable to withdraw – as much as $110,000 in one case. All of them spoke on the condition of anonymity.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.