Episode 147

FTX- The Sudden Collapse of the World's #2 Crypto Exchange - w/Stephen Sargeant

Published on: 17th November, 2022

Fraudology is presented by Sardine.

The crypto world has been rocked by major shakeups & revelations over the last 2 weeks. How did FTX go from the World's # 2 crypto exchange w/ Superbowl ads, the naming rights to a professional sports arena, celebrity endorsements, etc... to bankrupt in 2 weeks? It's a crazy story! And one that anti-fraud, compliance, Trust & safety & governance teams for all areas of the internet can and should learn from.

Crypto Compliance expert Stephen Sargeant, founder of Airdropd, a crypto content creation firm, came back to Fraudology to talk about...

  • What was/is FTX, and what was its place within the world of crypto
  • How the company went from perceived success & riches to bankruptcy in less than 2 weeks; along with the details that make this real-life story perfect for a movie
  • The mysterious "hack" that occurred the day after the company filed for bankruptcy, and why there is a lot of suspicion about the circumstances
  • Some of the fraud-related issues attached to this saga
  • What this could/should mean for the future of crypto companies going forward, from regulations to marketing strategies, we tried to cover it all

To connect with Stephen Sargeant:

https://www.linkedin.com/in/stephen-brent-sargeant-cams/

If you're interested in learning about future dates for training courses, send him a message for more info

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

Connect with her on LinkedIn

She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.

Mentioned in this episode:

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About the Podcast

Fraudology Podcast with Karisse Hendrick
Join Fraud Fighter Karisse Hendrick twice a week for deep dive interviews and weekly fraud news.
If you work in online fraud prevention, chances are you've caught the "bug". The bug that makes you passionate about identifying & preventing cybercriminals from getting away with stealing from your company, or your client's companies. Most people who have made cyber-fraud their career have the perfect balance of analytical and social skills, a strong sense of justice and the curiosity that will drive you to go down every path of information until you "crack the case".

Just like sociology is the study of social behavior, and psychology is the study of human behavior, Fraudology is the science and study of fraud.

On the Fraudology podcast, long-time online fraud expert, Karisse Hendrick will dive into all areas of Fraudology from the perspective of a fraud-fighter. With guests ranging from former cybercriminals to fraud-fighters at Fortune 500 companies to law enforcement and others, you will no doubt be entertained, while learning a lot about fraud & other forms of abuse prevention!

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Karisse Hendrick