FTX bankruptcy creditors: Here's how to claim your share of the $5B payout starting May 30
FTX begins repaying creditors on May 30, with BitGo and Kraken confirming fund transfers amid a long-awaited fraud recovery effort.
FTX's creditors will receive a share of their lost funds starting May 30, 2025. BitGo and Kraken — two of the approved distribution agents—are emailing clients to confirm that funds transferred from FTX will be deposited into users' accounts by the end of the month.
This announcement occurred three years after FTX's downfall, when thousands of customers worldwide were locked out of their cash and crypto holdings.
In November 2022, FTX, the previous largest cryptocurrency exchange in the world, collapsed after it became clear that its founder, Sam Bankman-Fried, had secretly used billions of dollars in customer money to pay for losses at his hedge fund, Alameda Research.
FTX filed for bankruptcy amid a liquidity shortfall before investigators found widespread fraud, mismanagement, and a lack of internal controls.
