Brazil, Colombia and Argentina among the Latin countries most affected by the FTX case

A report on the impact of the FTX collapse reveals that users in 30 countries suffered heavy losses.

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Brazil, Colombia, Argentina and Mexico are the only Latin countries that appear among the 30 most affected by the collapse of the FTX cryptocurrency exchange, according to a report prepared by CoinGecko analysts.

Brazil records the highest proportion of traffic among all affected countries in the region. This is deduced by the fact that, on average, some 134,000 users from the Carioca territory visited the FTX website monthly, according to the study.

This proportion of Brazilian users represents 2.8% of all traffic registered on the platform of the exchange declared bankrupt on November 11.

Colombia ranks second among the Latin countries with the most victims, as more than 62,800 people from that country reportedly traded through FTX, a figure that represents 1.3% of the global traffic.

Argentina is in third place with an estimated 56,800 victims and Mexico is in fourth place among Latin American countries, with 51,126 monthly visitors to the collapsed platform.

Brazil, Colombia and Argentina among the Latin countries most affected by the FTX case

The big losers in the FTX case

The report shows that the three countries with the highest average number of FTX victims worldwide are South Korea, Singapore and Japan, which together accounted for 15.7% of the total share of exchange traffic.

South Koreans would average 297,230 victims (6.1%), Singapore about 241,675 unique users per month (5%) and Japan 223,513 unique users (4.6%).

Among the 10 countries most affected by the FTX case are also Russia, Germany, Turkey, Taiwan, India and Egypt, in addition to Brazil, which is the Latin country with the highest average number of victims.

The United Kingdom ranked 12th on CoinGecko’s list, Canada 15th and the United States 18th.

In their report, CoinGecko analysts reported that the methodology used to compile the study included examining the number of monthly unique visitors and the proportion of traffic by country on FTX mobile and desktop websites.

So far, the total number of victims FTX would have left behind is unknown, although in documents filed last week during a U.S. bankruptcy court, the collapsed company’s team noted that they may owe money to more than one million individuals and organizations worldwide.

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