Trusted FTX — And Got Burned Bad

[johnblockbuster]

Trusted FTX — And Got Burned Bad
Posted by: John “Blockbuster” Moreno

Hey crew,
Name’s John Moreno, but the Discord folks call me Blockbuster — not 'cause I love movies, but because I tend to blow up trades in either direction . Been in crypto since 2016, lived through the ICO madness, DeFi summer, and yeah… the great FTX rug pull.

Here’s my story — and maybe a warning to the next person who thinks “it can’t happen to me.”
🧨 How I Got Rekt by FTX

Back in 2021–22, FTX was the platform. Clean interface, tight spreads, easy leverage. I had over $70k spread across spot and margin. Trusted the brand. I mean, they had stadiums, celebrities, regulators on speed dial — how could it not be legit?

Then boom. November 2022.

Withdrawals paused. Rumors swirling. Within days, FTX files for bankruptcy. Sam Bankman-Fried goes from golden boy to crypto villain faster than a flash crash. And just like that — all my assets frozen in a black hole of legal paperwork.
🧾 Where We’re At Now

Let’s break it down:

SBF is in jail. 25 years for wire fraud, conspiracy, you name it.

FTX owes billions. They're trying to claw back funds from Binance, Bybit, even celebs like Shaq and Tom Brady.

I’m one of thousands still waiting for repayment. They’ve started repaying smaller claims — but folks like me? Still stuck in limbo.

Legal fees alone are approaching $1 billion. Yep. That’s billion with a “B.”
What Hurts Most

It wasn’t just money. It was trust. We believed in this new decentralized future — but FTX was a centralized monster with an “off” switch. And SBF? Dude was playing League of Legends while misplacing billions in customer funds.
Lessons Learned the Hard Way

Not your keys, not your coins — I knew this. I preached this. But I still got lazy.

No platform is too big to fail — Remember Mt. Gox? Now it’s FTX. Who’s next?

Diversify — Don’t keep all your assets in one place. Not your bags, not your problem.

️ Final Thoughts from Blockbuster

If you lost money in FTX too, you’re not alone. There’s a long road ahead, and maybe some of us will see a payout. But don’t let this kill your conviction in the tech. Let it sharpen your mindset.

Stay safe. Be ruthless with risk. And for the love of Satoshi — read the damn fine print.

Catch you in the charts,
John “Blockbuster”