The news arose on December 16 on a PR Newswire publication by the exchange. Following the Chapter-11 reorganization plan approved by the U.S. Court, FTX is now set to start repaying debtors on January 3, 2025.
Bankrupt cryptocurrency exchange FTX will finally start repaying customers who lost their funds during the company’s collapse.
The news arose on December 16 on a PR Newswire publication by the exchange. Following the Chapter-11 reorganization plan approved by the U.S. Court, FTX is now set to start repaying debtors on January 3, 2025.
Customers eligible for a refund now have to visit https://claims.ftx.com to inquire about the payout. To do so, the company requires a KYC verification, and the credentials used to log in on the FTX exchange.
This recovery plan aims to recover up to 118% of lost funds from customers who owed $50,000 or less in the exchange. Since its collapse in November 2022—it is estimated that FTX still owes its former customers around $14.7 billion
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