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FTX Users Receive Update on Restructuring: Reopening the Claims Portal

FTX Users Receive Update on Restructuring: Reopening the Claims Portal

Former users of FTX have just received reassuring news from the legal team overseeing the company’s restructuring. Just a few weeks after the security breach on the Kroll platform, FTX’s teams have announced the reopening of the company’s claims portal.

Over a year after the bankruptcy of the US exchange FTX, the affected customers still hold onto hope of recovering their money. However, numerous obstacles continue to plague the company’s executives.

Although there is tangible skepticism regarding FTX’s actual ability to repay its users, this news brings a glimmer of hope in a particularly delicate period for the blockchain and cryptocurrency market.

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FTX Reopens Claims Portal

As a reminder, the judge in charge of FTX’s bankruptcy accepted the company’s proposed strategy to implement a claims procedure in order to initiate the refund process for its former customers.

Far from straightforward, this procedure was delayed at the end of last August when the Kroll platform experienced a security incident that compromised certain user data.

The hacker had managed to gain access to “certain files containing personal information of claimants in the BlockFi, FTX, and Genesis cases”.

In response, Kroll froze the accounts of the affected users to minimize the impact of this mishap. Additionally, many warned about the risk of phishing attempts proliferating due to this unauthorized access.

Through a tweet on its X account, FTX has announced the reopening of the portal for customers whose accounts were frozen following the security incident. These customers can now access it via the official link provided by the company.

FTX customers wishing to be part of the claims process now have until September 29 to complete or finalize their request.

However, unfortunately, this reopening does not guarantee full reimbursement for the losses related to the exchange’s bankruptcy. Only the future will be able to provide clarification on this matter.

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