FTX reopens withdrawals for some European users
by LORENZO CIOTTI | VIEW 692
FTX EU, the European arm of the exchange that collapsed last November, has launched a website in the last few hours to allow European customers to submit withdrawal requests. The deadline to carry out this procedure is May 1, 2023.
The operation comes almost five months after the collapse of the platform and, according to rumors released by Finance Magnates, thanks to the collaboration of the Cyprus Securities and Exchange Commission. The reported site is included in the domains registered by the CySEC regulator, so it appears to be official and not a scam, although there is no official news from FTX yet.
As for users, it is not yet clear how many of these were involved in the collapse of the European branch of FTX, also because the EU platform only became available to the public in March 2022, a few months before the crime, operating in Switzerland for the short period in which it survived.
Also, users with European KYC registered before that date appear not to have been automatically transferred under the EU branch, as one would expect. Kroll are arriving to the various users, containing the verified balance sheet at the time of bankruptcy and your own customer code, with which you can verify on the Kroll website in the customer list that you appear among the creditors.
The whole story seems to follow the procedure taken by FTX Japan, which already at the end of February had allowed customers to withdraw their funds from the exchange. The Cyprus regulator had suspended the operations of FTX EU on November 9, shortly before the official announcement of the bankruptcy of the 130 affiliated companies on November 11.
How to request a withdrawal in EUR from FTX EU After logging into the site indicated above, your credit in EUR will be displayed. Verify its correctness, otherwise you can provide what you think is correct. Then you need to verify your identity by SMS, email or document.
Finally, the withdrawal is requested, which will cost €5 if you had a credit of less than €2,000 or 0.25% if you have a credit of more than €2,000.