🕳️ The biggest scam in crypto history? FTX – a fall from the top
Just in 2022, FTX was considered a "safe haven" for investors.
They sponsored stadiums, had famous ambassadors, and Sam Bankman-Fried was regarded as a "Harvard genius."
But behind the scenes, something entirely different was happening.
🔻 Customers thought their funds were safe – meanwhile, billions of dollars were going to risky bets by the Alameda Research hedge fund.
🔻 Lack of reserves, hidden debts, printing their own token ($FTT ) as collateral – this was a recipe for disaster.
In November 2022, everything collapsed.
FTX declared bankruptcy, users lost access to their funds, and the market went into panic mode.
This event shook the entire Web3 world – and reminded:
"Not your keys, not your coins."
