UK investor reported losing £1m in FTX collapse

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UK investor reported losing £1m in FTX collapse
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Twelve others also reported losses in the failed exchange to a City of London Police scam hotline in November.

A UK investor told a fraud and cybercrime hotline they had been scammed out of £1m by failed cryptocurrency exchange FTX, a Freedom of Information request reveals.

Eight were male, three female, with the gender of two listed as "unknown". One was aged 10-19, another in their 70s.Many cryptocurrency investors used FTX as a place to store funds. It owes money to more than a million individuals and companies globally, bankruptcy-court filings suggest. Of those, about 80,000 are thought to be in the UK.The FOI data was compiled by searching reports made in November to Action Fraud, run by the City of London Police, for the text "FTX".

But those with money in FTX were unlikely to be repaid, Investing Reviews chief executive Simon Jones said.

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