Singapore's local authorities have issued a strong warning to citizens who fall victim to FTX to be wary of websites claiming to help them withdraw their assets from the cryptocurrency exchange that went bankrupt a week ago.

![images 68.jpeg](https://i.imgur.com/9KXTKZu.jpg)[source](https://depositphotos.com/stock-photos/ftx-app.html)

After a week when FTX collapsed and went bankrupt, there have been many cases and bad events in the cryptocurrency space, from the cause of the drawbacks of the cryptocurrency's journey this year to the loss of many investors' assets and many asset unrecoverable before the incident. This had prompted the law firm to sue former CEO Bankman-Frieds and the current CEO to provide their proof of the reserve and corporate transactions. 

Users who still have their assets with the exchange still do not know how this will end, but it is rumored that the issue will be resolved later and most users who have assets will be able to withdraw them.

There is no such thing.....

While this is going to happen, in no time, we are starting to see a lot of scammers using the opportunity of FTX's collapse to scam people by setting up a phishing website that claims to be working under the US Department of Justice to help people with withdraw their money assets. The sites that ask users to check in with their credentials to get access to their personal informations. However, late on November 19, Singapore one of the countries that adopted cryptocurrency, issued a warning regarding this phishing website to all citizens who invest in FTX that went bankrupt to avoid any website that claims to help them with withdrawing their assets from the cryptocurrency exchange or asking them to pay legal fees to help them.

*If you are one of the investors who lost their assets due to the collapse of FTX, it is better for you to ignore any website that offers you help as they are trying to steal your information and extort money from you*.

Because I don't think there is such a thing as withdrawing assets after a project collapse, so any kind of help is a scam and not from the bankrupt company, it was a phishing scam designed to target ftx users and their personal information .

This is not the first time that Singapore has come out like this to issue a public warning against fake online, an article offering auto trading schemes for cryptocurrency and everything against crypto scams. Even now, the city-state has banned any promotion of cryptocurrency on social media platforms and has issued a strong warning to anyone looking to get into crypto that crypto is a volatile asset and every investor should be aware of the risk involved.

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