#FTXrepayment is due to return $1.2 billion to its creditors on Feb. 18, a key step in the exchange’s bankruptcy proceedings.

Users will receive their funds at 3:00 p.m. UTC on Feb. 18, according to a Feb. 4 post by FTX creditor Sunil X, who is part of the larger group of over 1,500 FTX creditors, the FTX Client Ad-Hoc Committee.

The refunds will bring an estimated $1.2 billion in capital to the first wave of defrauded FTX users.

The FTX refunds are seen as a positive sign for the recovery of the crypto sector, according to Alvin Kan, COO of Bitget Wallet.