#FTXRefunds FTX has commenced its long-anticipated refund process to creditors, marking a significant milestone following its collapse in November 2022.
🔄 Refund Timeline and Eligibility
Initial Distributions: Began on February 18, 2025, targeting the "Convenience Class"—creditors with claims of $50,000 or less. These individuals are set to receive 100% of their claim value plus 9% interest, calculated from the bankruptcy filing date .
Second Distribution: Commenced on May 30, 2025, with over $5 billion allocated for distribution to eligible creditors. Funds are expected to be received within 1 to 3 business days through selected distribution service providers .
Total Recovery Pool: FTX has amassed between $14.7 billion and $16.5 billion to repay customers and other debtors .
✅ Steps to Ensure Refund Eligibility
To receive your refund:
1. Complete KYC Verification: Ensure your Know Your Customer (KYC) information is submitted through the FTX Customer Claims Portal.
2. Submit Tax Forms: Provide any required tax documentation as per the instructions on the portal.
3. Monitor Claim Status: Regularly check the status of your claim, especially if it's marked as "Disputed." Some disputed claims may become allowed and eligible for distribution upon further review .
4. Stay Informed: Keep an eye on communications from FTX and updates on the Customer Claims Portal for any additional actions required.
🌍 Special Considerations for FTX EU Customers
FTX EU has been acquired by the crypto platform Backpack, which has committed to refunding affected customers. However, the FTX Recovery Trust is not responsible for repayments owed by FTX EU. Customers should follow the specific processes outlined by FTX EU and Backpack for their refunds .
⚠️ Important Deadlines
KYC Commencement Deadline: March 1, 2025, 4:00 p.m. ET. Creditors must initiate the KYC process by this date to avoid claim disallowance.
KYC Submission Deadline: June 1, 2025, 4:00 p.m. ET. All required KYC information must be submitted by this date to maintain eligibility
