The Backpack cryptographic trade firm, which bought the European Bankrupt Exchange FTX arm, has begun the process for customers to claim their funds.
The backpack, which bought FTX EU for $ 32.7 million in January, ordered customers to complete the first step of the Know-Your-Customer (KYC) verification in an X post on Tuesday.
Step two of the process will be the distribution of funds, although it is not clear when this will happen. The backpack describes this as “that is later” on its frequently asked questions page.
The FTX EU Backpack acquisition was criticized by the bankruptcy state of the widest FTX entity.
Estate FTX said the backpack had no participation in the process approved by the United States Banking Court to return funds and had no authorization to make distributions to customers.
FTX has gathered $ 11.4 billion in cash to distribute the parties affected by its collapse in 2022, and payments will begin at the end of May.
