FTX has initiated a significant refund process, distributing over $5 billion to creditors as of May 30, 2025. This marks the second phase of the bankruptcy recovery plan, aiming to compensate customers affected by the exchange's collapse in November 2022 .
Refund Details
Distribution Amount: Over $5 billion is being distributed to eligible creditors.
Eligibility Criteria: Creditors must have an "Allowed" claim status as of April 11, 2025, and have completed necessary steps such as Know Your Customer (KYC) verification, tax form submissions, and onboarding with approved distribution agents like BitGo or Kraken .
Recovery Rates: Depending on the class of claim and other factors, recovery rates range from 54% to 120% of the original claim value, calculated based on the U.S. dollar value of holdings at the time of FTX's collapse .
Claim Process
To claim your refund, follow these steps:
1. Verify Eligibility: Log into the FTX Claims Portal to check your claim status.
2. Submit Documentation: Provide necessary KYC details, account history, and supporting documents.
3. Await Confirmation: The processing time may vary based on the complexity of your claim.
4. Receive Payment: Once approved, funds will be distributed through your chosen agent, either BitGo or Kraken .
Important Considerations
Valuation Date: Refunds are based on the value of assets at the time of FTX's collapse in November 2022, not current market prices. This has led to some controversy among creditors, especially those who held assets that have appreciated significantly since then .
Phishing Scams: Be cautious of phishing emails and scam websites impersonating FTX. Official communications will come from verified sources, and FTX will never ask you to connect your wallets or provide sensitive information via email .
