
In recent months we have seen a string of lawsuits against companies, owners and now also the celebrities that advertise cryptocurrency and NFT services as well. The two most high-profile examples of this are FTX and Binance. We’re going to take a look at how these sites have ended up being giant trading scams that have cost customers millions of dollars.
FTX
FTX is only the latest in a long line of what turned out to be cryptocurrency Ponzi schemes. In most walks of life you can feel comfort in the fact that if you are using a large company then the chances are it will be fairly low risk but in the crypto world even the worlds biggest sites seem to always turn out being a scam. In FTX’s case, Sam Bankman-Fried wanted to fund his lavish lifestyle buying property, investing in businesses, campaign donations and most notably, paying …