Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Jujuboy on February 19, 2025, 05:58:25 PM
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It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?
From what it seems, the repayment will be based on the amount of crypto you had before the crash. For example, if you had 1 BTC, you'll be paid the equivalent value at the time (around $18K), and the same applies to ETH, SOL, and other tokens.
The payments will be processed through several exchanges, including Bitget, which is even offering a rebate of up to $2,500 for FTX creditors meaning those who had funds stuck there.What exchange are you using for your repayment?
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I had a balance there, I managed to withdraw it some money just before the crash, but I still had a good balance stuck there
I've already received what was owed to me by Kraken, and it was with the values of the time, yes, it's a shame because I was supposed to have more money today, but it's better than not getting paid
We're talking about FTX in this thread too: https://www.altcoinstalks.com/index.php?topic=327249.0
I think they used only Kraken and BitGo, but they will add another exchange
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This is a scam, the platform does not give you $2500, but the maximum you will get is $2500 after completing conditions such as:
Create an account with the same email used in FTX.
Add FTX data.
Trad and be an active trader.
After fulfilling all these conditions, you will not get $2500, but 80% of an amount that will be determined later in the form of futures trading bonuses and 20% in the form of BGB.
source -----> https://www.bernama.com/en/press/news.php?id=2394542
About 80% of the incentives will be distributed as USDT futures trading bonuses, while the remaining 20% will be distributed in BGB.
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Hi, they're are conditions to meet before you can get into the $2500 reward pool, which seems quite normal to me and a standard for bounties and giveaways.. That's how most events of this kind work. If you meet the conditions, the exchange will surely give you your rewards. that was my experience when I participated in their CandyBomb event. You can applaud the exchange for the effort in supporting ftx users instead of watering it down..👍
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I had a balance there, I managed to withdraw it some money just before the crash, but I still had a good balance stuck there
I've already received what was owed to me by Kraken, and it was with the values of the time, yes, it's a shame because I was supposed to have more money today, but it's better than not getting paid
We're talking about FTX in this thread too: https://www.altcoinstalks.com/index.php?topic=327249.0
I think they used only Kraken and BitGo, but they will add another exchange
You are really lucky to have withdrawn some of your money from it before the crash because there are some people that didn't even have the chance, and just like the op said that there are perfect alternative to go about in order to recover fully from the remaining money you were not able to recover because i also was in the same situation as you then, but banking on event created for us affected people by depositing to get rebates and win up to 2500 USDT in rewards. According to what i checked on X we are to submit a screenshot of our FTX compensation application as proof and the sweetest part for me is that the more we deposit, the bigger the rewards we can earn.
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I haven't any assets on FTX exchanger on that time but before happening that incident I remember I had a token on Ethereum chain I sell that on 10x profit after listing and withdraw from ftx and also spend that for some shopping.
Now if I say, the way they were repaying the user that will really frustrating because they paying in equivalent to the US dollar, can you imagine if have purchased 0.5btc on that time it could be around 8k and now it should be around 40k. But they were paying it was also shocking good news now it has to be seen how many users are going to received.
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What exchange are you using for your repayment?
I'm not someone who was affected by FTX crash as I didn't had any account on that platform. I have never even created an account on FTX, but surely I can still say that the creditors can choose bitget as I've used that exchange myself and so far I had no issues with it.
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I haven't any assets on FTX exchanger on that time but before happening that incident I remember I had a token on Ethereum chain I sell that on 10x profit after listing and withdraw from ftx and also spend that for some shopping.
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It was a good luck for you. Because at that time you sold your tokens and used it for shopping. Although you spent that money at that time, it was to fulfill your hobby. And it's always better to spend money to fulfill your passion
Now if I say, the way they were repaying the user that will really frustrating because they paying in equivalent to the US dollar, can you imagine if have purchased 0.5btc on that time it could be around 8k and now it should be around 40k. But they were paying it was also shocking good news now it has to be seen how many users are going to received.
It is enough that FTX is making a comeback after a long time and refunding users. They managed to manage dollars to refund users, if they wanted to pay users in bitcoin they would need billions of dollars more to cover this which they would not be able to manage in any way. As they are refunding the users so this amount of refund is also very happy for the users. Because it is better to get something back than to lose it completely. If you calculate the price of Bitcoin or other tokens here, maybe some users are getting less money compared to dollars, but here they have no loss. There is also no guarantee that users who had bitcoins or tokens could hold them until now. They could have sold it then. So getting back the lost money as per the price of that time is quite appreciable.
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It is enough that FTX is making a comeback after a long time and refunding users. They managed to manage dollars to refund users, if they wanted to pay users in bitcoin they would need billions of dollars more to cover this which they would not be able to manage in any way. As they are refunding the users so this amount of refund is also very happy for the users. Because it is better to get something back than to lose it completely. If you calculate the price of Bitcoin or other tokens here, maybe some users are getting less money compared to dollars, but here they have no loss. There is also no guarantee that users who had bitcoins or tokens could hold them until now. They could have sold it then. So getting back the lost money as per the price of that time is quite appreciable.
First of all I want to mentioned you for your wrong quote.
Anyways, even they(FTX) were coming back with repaying they were intend to repay their 98% of their customers and they were repaying those who have held $50,000 or less on their exchanges so many users also did not have get their repayment still. And I don't think it is satisfying while your fund was locked for few years and it came without any profit or interest. Would you be happy if I borrow from you 0.5btc without your intend and giving back to you after four years?
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I already had some assets on FTX but luckily shortly before the crash the exchange banned me for not completing KYC and asked me to complete the verification and gave me a chance to withdraw my assets and I actually withdrew my assets to another exchange, after some time the crash happened.
If I had assets I would choose bitget because I have an account there, but I don't expect users to get the $2500 bonus as you think, I think it's just a promotional offer for users to withdraw their funds to bitget and this prize will be distributed to several winners and not to everyone.
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Hi, they're are conditions to meet before you can get into the $2500 reward pool, which seems quite normal to me and a standard for bounties and giveaways..
Yes, but their way of promoting it tells you that you will get $2500 if you are from FTX, but there are many conditions and the amount is always much less than $2500, and they do not plan to pay it in the form of USDT, but rather their tokens.
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It is enough that FTX is making a comeback after a long time and refunding users. They managed to manage dollars to refund users, if they wanted to pay users in bitcoin they would need billions of dollars more to cover this which they would not be able to manage in any way. As they are refunding the users so this amount of refund is also very happy for the users. Because it is better to get something back than to lose it completely. If you calculate the price of Bitcoin or other tokens here, maybe some users are getting less money compared to dollars, but here they have no loss. There is also no guarantee that users who had bitcoins or tokens could hold them until now. They could have sold it then. So getting back the lost money as per the price of that time is quite appreciable.
First of all I want to mentioned you for your wrong quote.
Anyways, even they(FTX) were coming back with repaying they were intend to repay their 98% of their customers and they were repaying those who have held $50,000 or less on their exchanges so many users also did not have get their repayment still. And I don't think it is satisfying while your fund was locked for few years and it came without any profit or interest. Would you be happy if I borrow from you 0.5btc without your intend and giving back to you after four years?
To be honest, I will not be happy at all. But considering that I thought I would never receive my asset back and ended up getting it now, it’s not fair at all but at least it's something, buddy.
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It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?
In fact, there was no end to speculation and imagination among our common people on this issue.
To be honest, I also thought at one time that maybe it was good for people if the FTX exchanger crashed because they were going to get back almost five times the funds in repayment.
But the reality is the long-term holder who have fund on ftx they already get the opposite. And here I thinkg they were giving the example that the cex could never be trusted for the long-term strategy.
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Repayments have started for ftx creditors and it is a good thing for them, especially for those who only had usdt deposits, at least they would be getting the same amount if they had held the usdt since then, but you can argue that many of them may have converted it to BTC and gained from the rise in price since the collapse of ftx.
However, it is better to get something than nothing, and ftx should ensure that all claimants get their money back.
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However, it is better to get something than nothing, and ftx should ensure that all claimants get their money back.
The topic is about promoting another platform that tried to take advantage of the positive news about FTX and give those who register a free reward. Unfortunately, it may take more time to recover FTX funds, but we will continue to hear more news.
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It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?
From what it seems, the repayment will be based on the amount of crypto you had before the crash. For example, if you had 1 BTC, you'll be paid the equivalent value at the time (around $18K), and the same applies to ETH, SOL, and other tokens.
The payments will be processed through several exchanges, including Bitget, which is even offering a rebate of up to $2,500 for FTX creditors meaning those who had funds stuck there.What exchange are you using for your repayment?
I once wanted to use FTX in 2021 because Sam was very famous and considered a hero of the crypto market. I also expected that the FTT token would be as successful as BNB and bring me huge profits in the future. Luckily, I didn't have too much money to need to use more CEXs, I bought a few FTT tokens on Binance and I avoided the FTX collapse.
Some of my friends used FTX and suffered great losses, because the current BTC price is very high compared to that time. I doubt their ability to reinvest in this market, especially when they receive assets while the market is extremely fearful and the BTC price falls out of the 80K range.
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Some of my friends used FTX and suffered great losses, because the current BTC price is very high compared to that time. I doubt their ability to reinvest in this market, especially when they receive assets while the market is extremely fearful and the BTC price falls out of the 80K range.
The best thing of FTX was the withdraw fees, zero fees for Solana, and if I remember well, they even zeroed the fees from BTC and ETH too, so it was a great hub to deposit and withdraw coins at any time
I used a lot of free withdraws, but unfortunately I was struck at FTX in the fall
I think a lot of people used FTX for the same reason
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The best thing of FTX was the withdraw fees, zero fees for Solana, and if I remember well, they even zeroed the fees from BTC and ETH too, so it was a great hub to deposit and withdraw coins at any time
I used a lot of free withdraws, but unfortunately I was struck at FTX in the fall
I think a lot of people used FTX for the same reason
Later we found out they were using our funds to invest and trade, so it made sense to offer zero fees for everything, including ETH when it was expensive (I saw $5 fees being covered by them many times). People took advantage of that to use FTX as a wallet, and then bam! ;D
I also prefered to use FTX as a main exchange because of the zero withdraw fees, especially to hold some USDC when I had to move them between networks and wallets.
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Later we found out they were using our funds to invest and trade, so it made sense to offer zero fees for everything, including ETH when it was expensive (I saw $5 fees being covered by them many times). People took advantage of that to use FTX as a wallet, and then bam! ;D
I also prefered to use FTX as a main exchange because of the zero withdraw fees, especially to hold some USDC when I had to move them between networks and wallets.
I know now and I also knew at the time that it was risky to leave money on exchanges for a period of a few days, but at the time of STEPN (you remember), it was quite practical to use FTX to do Solana operations, go back to the wallet, do USDC>SOL or SOL>USD
And FTX was such a success, along with Alameda, FTT and Sam, that even the most skeptical would have doubted that what happened so quickly and at that time was possible
I escaped NegocieCoins, Celsius, IronFinance, Cryptopia, but not FTX :P
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Fortunately, I do not have funds on FTX but I symphatized to all of the victims during the debacle and seeing them getting paid and refund has made me glad for them. They wont be back anymore as an exchange or any business that is tied to that name. Never had an account there but I think if it is still there as of now and hacks came by just as what happened to Bybit, I probably have moved some funds there.
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None, I don't have crypto assets in FTX before the crash, though it was an ugly experience by those affected by it but I don't also blame them because some were actually ignorant of what is at stake when considering their terms and offers as at then, it's an exchange one will not want to avoid using because of the varieties of offers they have been using to draw in more users, the team behind this exchange were high risk takers from my research.
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The FTX stopped customers from withdrawing money from the platform by removing that option online, meaning millions of customers lost access to their funds. When FTX couldn’t make up the $8 billion shortfall and the company filed for bankruptcy. The exchange had been in talks with investors and bidders for months but could not raise enough money for the rebuild. I never deposit funds in these useless exchanges and I make everyone aware of this. There is no shortage of low quality exchanges in crypto and you will never get high security from such exchanges.
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It looks like the exchange has started paying back people who lost their assets on the platform. Some might say it's too late, but now is the best time better late than never, right?
From what it seems, the repayment will be based on the amount of crypto you had before the crash. For example, if you had 1 BTC, you'll be paid the equivalent value at the time (around $18K), and the same applies to ETH, SOL, and other tokens.
The payments will be processed through several exchanges, including Bitget, which is even offering a rebate of up to $2,500 for FTX creditors meaning those who had funds stuck there.What exchange are you using for your repayment?
Luckily I never used FTX and did not become a victim of them. Although I lost most of my profits in the 2021 cycle I am still much luckier than FTX users. Now I hope they will receive their money soon and use some of it to reinvest in the market instead of leaving crypto.
The FTX event helps to wake investors up and reminds them to be cautious before trusting anyone in this market too much. Sam B.F. and Alameda were all just scammers but received the trust and expectations of crypto investors. Decentralizing risk by using multiple CEXs and self-custody of crypto are things that investors can think about right from the start of joining this market.
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Even though FTX became so popular, I never used them and will never have too many unnecessary exchanges for my type of trading purpose. Any refunds from the bankrupted platform is just a lottery so use it wisely guys and don't gamble with it again on the random memecoins that will do o good for the purpose of money that reached you after all these years.
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Even though FTX became so popular, I never used them and will never have too many unnecessary exchanges for my type of trading purpose. Any refunds from the bankrupted platform is just a lottery so use it wisely guys and don't gamble with it again on the random memecoins that will do o good for the purpose of money that reached you after all these years.
In my entire stay in the crypto space, I stick to the view that sustainability supersedes gains by a multiple in the market. This is due to the failure of grasping the reality that most people get overjoyed by a high return without doing enough research to understand the risks involved. Most people could recall the time they invested and lost their money to a platform that declared bankruptcy and it is important to know that no system is perfect. Investing your own money in any project that is still quite experimental or a memecoin that comes out of the blue increases the risk factor. It is better to make some better shift, a more stable one to follow in hope for luck to run back again and again. In this case, I will like to use it in a more controlled manner than to take a big risk which has no basis.