'I thought crypto exchanges were safe': the lesson in FTX's collapse

Anthony* (a friend) called a few weeks ago, deeply worried.

A deputy principal of a high school in Queensland, over the past year he spent hundreds of thousands of dollars buying cryptocurrencies, borrowing money using his home as equity.

But now all his assets, valued at A$600,000, were stuck in an account he couldn't access.

He'd bought through FTX, the world's third-biggest cryptocurrency exchange,