UK investors who lost £1m in FTX crash out of 13, report fraud to police | UK news

A British investor who allegedly lost £1 million in the collapse of cryptocurrency trading platform FTX is one of 13 people to report the fraud to British police.

FTX application bankruptcy On 11 November, the then Chief Executive allegedly Sam Bankman-Fred30, illegally transferred large amounts of client funds from the firm to Alameda Research, a second firm he owned.

Thirteen people reported to Action Fraud in November, following a freedom of information request made on behalf of the Investing Reviews website.

Action Fraud is the UK’s national reporting center for fraud allegations.

The total reported loss was £1.16 million, with the largest individual loss of £1 million.

Simon Jones, chief executive of, said: “The bad news is that UK investors who lost £1m are unlikely to see a penny of their money again.

“The Financial Conduct Authority has been at pains to warn investors of the dangers of cryptocurrencies, so if you’re tempted, make sure you don’t put all your eggs in one basket.”

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The City of London Police said it had passed on details of the report to US authorities.

Bankman-Fried has denied criminal charges related to the FTX debacle and is due to stand trial in the United States in October.

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