FTX Repayments Process is Now Active With Users to Recieve Funds in 60 Days

[Stompix]

Official payment will be released by Feb 18. And I'm just thinking though, this could be a bullish sign for us as those who might received their money might not resell it?

People are getting paid in USD, not coins, and there will be no selling pressure on coins, it could be a buying spree but I am a bit pessimistic about that, remember those were people that got burned once on crypto, so I don't see them that keen to throw again money at it.

[rdluffy]

A curiosity
Some users had a balance there in USDT or USDC or even BUSD, and these users will receive the total amount they had there plus a bonus of 9% per year, totaling almost 20% appreciation
These users will be the least affected

Those with SOL and BTC, on the other hand, have been hit hard

[rdluffy]

I've just received this email:



Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release 

[philipma1957]

I've just received this email:



Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release 

Good luck.

Hope it is alot for you

[Z-tight]

Bitgo and Kraken payments have probably all been sent to the exchanges, now we just have to wait for the 18th for the release 

This is good news for the 'convenience class' creditors, that is those who lost deposits of $50k or less, they said repayments would only take 3 business days from the 18th, so that is good news as you guys are going to get your money very soon. After that is completed, i am sure they would move over to other 'class' of creditors.

[mohdelayo]

Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.

[MrSpasybo]

Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.

I hope you will receive your assets soon, whether in the form of $ or stablecoins. A little is better than nothing, if you held ETH at the time of the crash, you can now buy back that same amount of ETH because the ETH price is in a similar price zone ^^

I'm quite curious about your plans for the compensation money, will you leave the crypto market forever? Will you wait for the next cycle? Or will you reinvest in the crypto market right now to not miss this 2025-bullrun?

[Z-tight]

Huh! This has taken so much time to get to this stage.

Yeah it took sometime, but compared to similar cases, i.e. mt.gox, then this one was quick.

Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars.

They are starting with creditors of claims $50k and below, and they said they will take care of that in three business days, so after that other creditors will follow.

I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.

Sorry to hear that, if you didn't complete kyc in the customer claim portal, there is no way you're getting your money back.

[rdluffy]

Good luck.

Hope it is alot for you

It's not that much money, but it's going to make a difference to me hehehe, and it's at a good time.
Thank you

Huh! This has taken so much time to get to this stage. Yet not everyone will be reimbursed within the said sixty days, I see there's a max threshold of 50 thousand dollars. I was a victim of the FTX collapse, I got tired in the claiming process after filling and submitting kyc and claim form multitude of times, at some point I said to myself that this money isnt coming back, I'm glad they will begin the reimbursement process soon even though I'm not certain I would get anything.

Sorry to hear that, but what's the problem you faced to claim your money?

[Gposas]

FTX Repayments Process is Now Active With Users to Recieve Funds in 60 Days

According to FTX, customers who have submitted valid claims may see their reimbursements processed within 60 days. The initial group to receive repayments includes claimants seeking $50,000 or less, as outlined in the bankruptcy plan approved in October.

https://beincrypto.com/ftx-repayments-plan-is-active/

So at least those victims can be reimburse in the next 60 days. It just sad though that Bitcoin has went on a massive rise while their money is trap. I'm not an expert though but at least in the end they can still get some money out of it.

Quite a good heart from them, seeing the willingness to refund some part can be a consolation to users who were affected instead of a complete closeup without recognizing the loss of users....
They say Half Bread is better than none...

Good luck.

Hope it is alot for you

It's not that much money, but it's going to make a difference to me hehehe, and it's at a good time.
Thank you

I guess a victim here is already sharing a testimony... Goodluck bro...

But I believe there'll still be other victims out there who wouldn't be privileged to successfully submit their claims and they'll likely be scrapped out of this reimbursement.

[rdluffy]

I guess a victim here is already sharing a testimony... Goodluck bro...

But I believe there'll still be other victims out there who wouldn't be privileged to successfully submit their claims and they'll likely be scrapped out of this reimbursement.

As far as I know, 100% of users with receivables below 50k USD were eligible to receive a refund
I don't know what the situation is like for those over 50k

User mohdelayo mentioned that he doesn't know if he'll receive the refund, but I don't know what his situation is, that's why I even asked, because most have already received the refund information and on the 18th they'll release it on Kraken and BitGo

[Z-tight]

As far as I know, 100% of users with receivables below 50k USD were eligible to receive a refund
I don't know what the situation is like for those over 50k

Only users who have successfully passed kyc in the Customer Claims portal will receive their funds back. As far as i know, there were a lot of users who were having issues submitting their kyc in the portal and it is sad that many of of them were frustrated and gave up on it. However, goodluck to creditors in the 'convenience class' who passed kyc and will soon receive their money.

[rdluffy]

It's finally over



After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD

[Z-tight]

After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD

That is huge news, a big congratulations to you and to every other 'convenience class' creditor out there who has either received their money or will do so within the next 3 business days from yesterday. Just a small question, which you don't have to answer, are you going to withdraw your money to fiat, or are you going to buy crypto with it.

[rdluffy]

After 2 years and 3 months I got my money back from FTX
I've just received an e-mail from Kraken, the exchange I chose, and the money is there, in USD

That is huge news, a big congratulations to you and to every other 'convenience class' creditor out there who has either received their money or will do so within the next 3 business days from yesterday. Just a small question, which you don't have to answer, are you going to withdraw your money to fiat, or are you going to buy crypto with it.

Thanks!
No problem hehe, but I'm planning to convert my USD in Kraken to USDT and withdraw to my wallet
Then I will split in 4 parts, 25% each one

1 - Buy BTC
2 - Put USDT to work in my DeFi wallet
3 - Hodl USDT in my cold wallet
4 - Put USDT to work in my airdrop wallet

I don't have a huge amount of money, but this money will help me a lot