At recent time crypto scams are very popular in crypto world.Because crypto
market is unregulated or decentralized market.Some time ago a news came out ofTERA LUNA
coin.which went BANCRUPT by 40 Billion dolllar in two weeks.
Today,we are explain World Second Largest crypto exchange firm FTX.Which
became completely Bancrupt in last 8 day's with 2.5 lakh crores.But Why..?? The
world's second largest crypto exchange FTX used to earn money by doing
scam's not from it's business. some time ago the FTX CEO Sam Bankman started a
new firm.it's name was ALAMEIDA RESEARCH.who were earned 25-30 Crores a
day trading with crypto.
The work of this ALAMEIDA RESEARCH was that he used to buy crypto tokens
on crypto exchange before listing.and sell them at a higher price after being
listed.That's how FTX knew that ALAMEDA would continue to turn a good
profit.That's why their greed increases so much that they transfered 80 thousand
crores out of 125 lakh crores of people to ALAMEDA RESEARCH to do
research and earn money.
The scandal came to a halt when ALAMEIDA suffered huge losses in some
trades and a crypto exchange [BINANCE] exposed this thing,after which the user's
of FTX put a withdrawal request of 40 thousand crores. But,FTXdid
not have the money as he had given that money to ALAMEIDA and ALAMEIDA
RESEARCH was in a loss.that's how FTX went to BANKRUPT
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