Nearly 400,000 FTX users risk losing $2.5 billion in repayments

FTX KYC Resolution for Creditors Streamline Outcomes on Crypto Industry Practice

FTX disqualified approximately 392,000 customer claims, valued at around $2.5 billion, because those users failed to complete the required Know Your Customer (KYC) verification process by the specified deadline. This action was part of the bankruptcy proceedings following the exchange’s collapse, with the U.S. Bankruptcy Court confirming the cancellation of these claims on April 2, […] The post FTX KYC Resolution for Creditors Streamline Outcome…

FTX Payouts in Jeopardy: $2.5B at Risk Over KYC Delay

Many people owed money by FTX may miss out on repayments because they have not completed a required identity check.

FTX KYC Deadline Extended: 400,000 Users Risk Losing $2.5 Billion in Repayments - WorldNL Magazine

TLDR Nearly 400,000 FTX creditors risk losing $2.5 billion in repayments due to KYC verification failures Original deadline was March 3, 2025, but has been extended to June 1, 2025 Claims under $50,000 account for $655 million, while claims over $50,000 total $1.9 billion Many users have reported problems with the KYC process FTX plans to begin next round of payments to major creditors on May 30, with full cash recoveries expected Nearly 400,00…

Nearly 400,000 FTX Users Could Lose $2.5B in Repayments

Nearly 400,000 FTX Users Could Lose $2.5B in Repayments Nearly 400,000 creditors of bankrupt crypto exchange FTX risk losing $2.5 billion in refunds.

FTX KYC Deadline Extended: 400,000 Users Risk Losing $2.5 Billion in Repayments

TLDR Nearly 400,000 FTX creditors risk losing $2.5 billion in repayments due to KYC verification failures Original deadline was March 3, 2025, but has been extended to June 1, 2025 Claims under $50,000 account for $655 million, while claims over $50,000 total $1.9 billion Many users have reported problems with the KYC process FTX plans to begin next round of payments to major creditors on May 30, with full cash recoveries expected Nearly 400,00…

FTX Disqualifies $2.5 Billion In Customer Claims Over Missed KYC Deadline - FinanceFeeds

Bankrupt crypto exchange FTX has officially disqualified nearly 392,000 customer claims, totaling an estimated $2.5 billion, after claimants failed to complete mandatory Know Your Customer (KYC) verification before the March 3, 2025 deadline.392,000 users lose eligibility as repayment process moves forward. Thousands of Claims Wiped Out Over Compliance Failure The invalidated claims include approximately $655 million from small account holders a…