At the time of FTX’s collapse, about 950 users in Taiwan had a total of $150 million worth of digital assets stored or held at the crypto exchange, a law firm has reportedly said. FTX users in Taiwan were reportedly investing in interest-bearing digital assets using cheap funds borrowed from local banks.
FTX’s Popularity With Taiwanese Users
According to a Taiwanese law firm, Enlighten Law Group, about 950 people in the country had digital assets worth $150 million stored on the crypto exchange FTX when it collapsed. The law firm also revealed that four unnamed individuals had incurred losses exceeding $5 million each.
As stated in a report by Wublockchain, the number of FTX victims in Taiwan is over 30 times more than those