The fund recovery process is now accessible for European users affected by the exchange’s bankruptcy.
Backpack Exchange, the company that acquired FTX EU, has officially launched the fund recovery system for former FTX Europe clients. The first phase of the process, focusing on identity verification, is now live on the platform.
To begin the recovery process, users must register on Backpack using the email previously associated with their FTX EU account. This step is mandatory even for those who already have a Backpack profile.
KYC verification is required for everyone, regardless of whether it was previously completed on FTX EU. Once the process is completed, the system will automatically display the recoverable amount.
Refunds will be issued exclusively in euros, calculated based on the value of positions at the time of the exchange’s bankruptcy (November 11, 2022). Backpack will notify users by email when actual withdrawals can begin.
The company recommends completing the verification as soon as possible to be included in the first distribution group. Exact timelines are yet to be defined, but users will receive updates directly from Backpack.
Those expecting refunds in cryptocurrencies had to submit a separate request during the U.S. bankruptcy procedure.
