Experts and watchdogs warn UK investors that when crypto firms fail, getting money back is unlikely.
Over a million people and businesses could be owed money following the collapse of the crypto exchange FTX, according toThere have also been reports that FTX suffered a hack, taking millions of dollars of crypto from the firm.In the UK, crypto assets are largely unregulated, and experts and financial watchdogs warn there's little protection for consumers.
It now has a page dealing with the FTX liquidation. Again, the message is that options for those who've invested in it are limited.There is at least a liquidation process in the case of FTX, which will divide up the remains of the firm among those to whom it owes money. He and other experts warned that often small investors will go to the back of the queue when what remains of a crypto business is divided up among creditors.
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