PANews reported on October 4th that FTX issued a tweet warning users to be wary of phishing emails that appear to be from Kroll or FTX Recovery Trust, as well as websites that resemble FTX customer portals. FTX emphasized that it will not officially require users to connect their wallets.

Some users claim FTX sent fake compensation emails, mentioning that generating XPUB requires downloading a dangerous tool. In response, SlowMist Cosine stated that the malicious tool appears to have been assembled using AI, with a clear intent to steal mnemonics, but otherwise poses no other risks.