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FTX gone? – website turned off before returning to ‘advise against depositing’

10 Nov, 20222 min readOther
FTX gone? – website turned off before returning to ‘advise against depositing’

The FTX.com domain went offline around 10 pm GMT for around 20 minutes before coming back online with a prominent red notice to users.

The statement reads, “FTX is currently unable to process withdrawals. We strongly advise against depositing.”

A further notice was added moments later stating,

“All onboarding of new clients has been suspended until further notice.”

CryptoSlate tested the new account signup user journey and can confirm that new account creations are currently paused.

The website was shut down after the announcement that Binance had pulled out of the deal to acquire FTX. In addition, other Sam Bankman-Fried-owned companies, such as FTX Ventures and Alameda Research, had their website shut down earlier in the day.

The insolvent exchange has an $8 billion hole in its balance sheet, three times that of Celsius, which filed for bankruptcy earlier this year.

Users flocked to Twitter as the website went down, with users all over the globe reporting that they could not access the website.

It is currently unknown whether the outage was due to any technical issues or the result of an internal decision after the announcement that Binance has pulled out of the deal to acquire FTX.

Also known as Akiba, Liam is a journalist and editor of Blocklight at CryptoSlate. He believes that decentralized ledger technology has the potential to make widespread positive change. He predicts the next 10 years will bring in a dawn of a new age of technological innovation.

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