#FTXRefunds As of June 2025, FTX has initiated a structured repayment plan to reimburse customers and creditors affected by its November 2022 collapse. Here's an overview of the current status:
š Key Dates & Payout Phases
January 3, 2025: The court-approved repayment plan became effective. This plan aims to distribute approximately $16 billion to creditors, prioritizing those with smaller claims.
February 18, 2025: FTX commenced repayments to the "Convenience Class"ācreditors with claims of $BNB
50,000 or less. This group represents about 98% of all claimants. Payments were processed within 1 to 3 business days.
May 30, 2025: The second phase of repayments began, distributing over $BTC
5 billion to larger creditors. Recovery amounts range from 54% to 120% of original claims, based on the U.S. dollar value at the time of FTX's collapse.
šµ Recovery Amounts
Smaller Claims (ā¤ $50,000): Eligible creditors received up to 119% of their claim amounts.
Larger Claims: Recoveries vary between 54% and 120%, depending on the claim size and other factors.
š ļø How to Claim Your Refund
To receive a refund, creditors must:
1. Access the FTX Debtors' Customer Portal.
2. Complete Know Your Customer (KYC) verification.
3. Confirm their account balance as of November 11, 2022.
4. Submit necessary tax information.
5. Choose a distribution methodāeither Kraken or BitGo.
Payments are made via USD wire transfer or stablecoin, typically within 1 to 3 business days after processing.
ā ļø Important Considerations
Valuation Basis: Repayments are calculated based on the U.S. dollar value of assets at the time of FTX's collapse in November 2022, not current market values.
Scam Alerts: FTX has warned creditors to be vigilant against phishing emails and fraudulent websites mimicking official communications.
Asset Recovery: The repayment plan is funded through asset liquidations and legal recoveries, including lawsuits against entities like Binance.