The customer information request screen of FTX, which defrauded its customers and went bankrupt by misusing funds, has been activated. The FTX collapse, which marked the last quarter of the previous year, had led to massive losses in cryptocurrencies. The bankruptcy process of FTX, the second largest cryptocurrency exchange in the world in terms of volume, continues.
Steps for FTX Victims
The bankruptcy committee announced that the screen where victims can see their assets and request balance refunds in the future is open. Users who enter the address in the following Tweet must first log in to the opened address with their email and password. Then you need to verify your identity for the account. After the KYC procedures, no additional action is required.
The bankruptcy committee may ask victims to provide proof of debt if necessary. If the process works as expected after the hearing expected to be held in November, a significant part of the assets on hand could be distributed to the victims in the first half of 2024. The bankruptcy committee, which has collected approximately $8 billion in assets, continues to strive to collect receivables.
There is also a billion-dollar corporate debt of FTX and Alameda. Some of these applied to the court for priority refund. If they get what they want, a much smaller portion of individual customer losses can be compensated.
Why is FTT Token Rising?
The local token of the exchange, which is bankrupt and more importantly proven to defraud its customers, FTT has risen again. Speculative traders increased their purchases with the opening of the customer information request screen amidst rumors that the exchange will be reactivated in the future. The price increased by approximately 25 percent.
However, investors should not forget that the FTT Token belongs to a bankrupt exchange. More importantly, the assets on hand still do not cover the receivables, and reactivating the exchange will bring serious question marks. Will people use FTX, considering the possibility of being victimized a second time, while there are dozens of alternatives? Will the expenses to restart the exchange made by the FTX bankruptcy committee be covered by customer balances, and will the court accept this? All of this shows that the possibility of FTT Token going to zero in the future is higher than thought.
