FTX EU victims can now withdraw trapped Euros via Backpack but crypto withdrawals remain blocked

Backpack has officially opened the withdrawal model for erstwhile FTX EU customers, marking a large measurement successful returning mislaid funds to the defunct speech users crossed Europe.

The claims process went unrecorded connected May 12, pursuing Backpack’s earlier acquisition of FTX’s European limb successful January 2025.

According to a announcement connected its website, the speech stated:

“Trek Labs Europe LTD (Former FTX EU LTD) has present commenced payout of erstwhile FTX EU lawsuit funds.”

Backpack explained that customers affected by the FTX illness tin present statesman a two-step process to entree their frozen euro balances done a dedicated portal.

Meanwhile, each claimable funds are denominated strictly successful euros. Crypto withdrawals are not supported.

This inaugural follows the platform’s earlier motorboat of its identity verification process successful April. That marked the archetypal measurement successful helping erstwhile FTX EU users regain entree to their frozen assets.

How Backpack is returning FTX EU lawsuit funds

FTX creditors indispensable prime the “FTX EU Withdrawal Request” connected the exchange’s EU level to entree their frozen funds.

They’ll past person to implicit a signifier with their slope details and upload a slope connection dated wrong the past 3 months. This connection indispensable intelligibly amusement their afloat name, IBAN, and registered address—all of which indispensable lucifer the accusation connected the petition form.

The speech stated that withdrawal fees volition use to the claims. According to the firm, the fees are acceptable by its banking partners and alteration depending connected the magnitude claimed.

For transactions up to €2,000, the complaint is €8. Claims betwixt €2,001 and €50,000 incur a level interest of €13. For larger withdrawals, the level charges €13 positive 0.1% of immoderate magnitude exceeding €50,001, with the full interest capped astatine €353.

Backpack emphasized that it does not adhd immoderate other fees connected apical of those acceptable by its banking partners.

The speech besides warned of imaginable delays owed to precocious postulation and banking limits, particularly during the aboriginal days of processing.

Backpack pointed retired that portion determination is nary fixed deadline to record a claim, immoderate unclaimed funds volition yet beryllium treated nether applicable fiscal laws.

The station FTX EU victims tin present retreat trapped Euros via Backpack but crypto withdrawals stay blocked appeared archetypal connected CryptoSlate.