Asset recovery for former FTX EU customers
FAQs
When will I receive my distribution?
We are working hard and aim to begin distributions in Q1 2025. Clients will be notified via email when the distributions are ready to be made.
What if I already have an account on backpack.exchange?
You will still need to create a separate account on https://eu.backpack.exchange and complete
KYC in order to receive your FTX claim. This new account will also be necessary for accessing
and using the Backpack EU platform once it becomes fully operational at a later date.
Does my FTX EU account email have to match my Backpack EU account?
Yes, when creating an account on Backpack EU, you must use the same email as the one associated with your FTX EU claim.
What if I no longer have access to the email address I used for my FTX EU claim?
Contact Backpack EU support at support@eu.backpack.exchange to update your account
details by providing a signed letter stating your previous email, your new email, and your
KYC details and ensure you can complete onboarding and account linking.
What if my FTX EU KYC details don’t match my new Backpack EU account?
Your KYC details on FTX EU and Backpack EU must match for verification. If they don’t, you’ll need to
contact Backpack EU support at support@eu.backpack.exchange to update your Backpack EU account to reflect
the same information used for your FTX EU claim. This ensures a smooth verification process and avoids
delays in accessing your distribution.
Who decides how much I receive?
The distribution amounts have been determined solely by the bankruptcy court overseeing the FTX bankruptcy proceedings. Backpack has no authority to change or influence these decisions.
How is my distribution calculated?
Your distribution reflects the final EUR balance of your FTX EU claim, using the prices of your positions at the time of the collapse as determined by the FTX bankruptcy court.In particular, Backpack is not responsible for any claims between you and any other FTX entity or their related bankruptcy estate proceedings. For instance, as previously notified to all FTX EU customers, all cryptocurrency withdrawals pending immediately before the filing of the bankruptcy petition by the FTX group remain with the FTX group. All such cryptocurrency withdrawals remain liabilities of FTX Trading Ltd or FTX Digital Markets Ltd, and you must direct and make all such claims with FTX Trading Ltd and FTX Digital Markets Ltd directly. Backpack is not involved and has no involvement in any such claims.
What should I do if I think my distribution is incorrect?
If you believe your distribution is incorrect:
- Note that all amounts were finalized by the bankruptcy court, and we do not have the ability to change or dispute these numbers.
- Each position was settled in Euro. The value reflects the EUR-value of your account at the time of the collapse of FTX
- If you did not file a dispute during the bankruptcy process with FTX Trading Ltd or FTX Digital Markets Ltd, you may still contact the court-appointed administrator to explore your options. However, we cannot provide legal or financial advice.
Visit Backpack Support to learn more