FTX Claim deadline Sept 29 2023

[adaseb]

For those that are not aware, the deadline to claim your debt from FTX is end of September.

https://claims.ftx.com/

From there you login as usual, 2FA as usual and confirm your email.

Now I am confused because on Step 3, it says "KYC is recommended but not required". Says you can skip KYC and move to Step 4 to verify balance and Step 5 to file your claim.

However later it states that you must begin your KYC process and file your claim by Sept 29. Any claim of a customer with an unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info.

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

[SquirrelJulietGarden]

I did not find any link to https://claims.ftx.com/ from https://restructuring.ra.kroll.com/FTX/

I search it on FTX Twitter and did not find any tweet about claiming with that link. Could you share where you got the link, please.

My search goes with FTX Users Potentially Targeted in Possible Phishing Attack as Bankruptcy Claims Deadline Nears that has a link to direct me to FTX Debtors Launch Online Claims Portal for Customers

I agree with you that if the value is small, skip it is better than KYC and lose documents to FTX.

[Lakai01]

-snip-
Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

I'm afraid no one can answer the question of how much you'll get back. Not even those who are working on the correct resolution of FTX funds.
In principle, it looks like this: There is a certain amount of coins and FIAT, depending on how many people stake their claim to it this amount is divided among everyone. So if you had only a small amount of coins/FIAT on FTX you will most likely be fobbed off with only a marginal amount.

I have never been registered on FTX myself ... was it even possible to use the exchange without KYC?

[noorman0]

I did not find any link to https://claims.ftx.com/ from https://restructuring.ra.kroll.com/FTX/

Based on the search cache in my browser, the claims portal page used to be as follows: https://claims.ftx.com/kroll-portal
Then a few days ago I read this thread that their restructuring agency had a data breach. I think they have canceled cooperation in this case considering the link above is no longer available.

[adaseb]

I did not find any link to https://claims.ftx.com/ from https://restructuring.ra.kroll.com/FTX/

I search it on FTX Twitter and did not find any tweet about claiming with that link. Could you share where you got the link, please.

My search goes with FTX Users Potentially Targeted in Possible Phishing Attack as Bankruptcy Claims Deadline Nears that has a link to direct me to FTX Debtors Launch Online Claims Portal for Customers

I agree with you that if the value is small, skip it is better than KYC and lose documents to FTX.

The website is listed on the Ftx twitter account which is controlled by Kroll. And Ftx domain right now is also in control of Kroll. I don’t think it’s a phishing website.

Also when you submit your claim it forwards it to the Kroll website so it’s definitely legitimate. Maybe someone else can confirm.

[hugeblack]

In any case, you will be required to verify your identity before proceeding with the withdrawal process. Therefore, since you will submit it sooner or later, it is best to do it now.

We will hear a lot of noise about this matter in the coming days, but we cannot confirm the news because it is the season of rumors.

So far this news is closest to the truth.


---> Source

Also when you submit your claim it forwards it to the Kroll website so it’s definitely legitimate. Maybe someone else can confirm.

You can check the link and steps in this document ---> https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MTU0MTE4MQ==&id2=-1

[Potato Chips]

Were you talking about this?

NOTE: Although KYC information submission is not required in order to view your account balance or file a proof of claim, the Debtors reserve the right to object to claims filed that are not verified with KYC information. For more information about the list of requirements, please visit this page: Verification

From what I understand, it just means not providing KYC information would mean your claim has a much less weight/support compared to claims backed with KYC information because debtors have the right to object it.

Imo, it's more likely that they'll exercise their right to object non-kyc'd claims especially if there is no enough supply to cover every claims.

[Tytanowy Janusz]

Now I am confused because on Step 3, it says "KYC is recommended but not required". Says you can skip KYC and move to Step 4 to verify balance and Step 5 to file your claim.

However later it states that you must begin your KYC process and file your claim by Sept 29. Any claim of a customer with an unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info.

As I understand this, kyc is not required to proceed further to "verify balance" and prepare "file your calim", but it is necessary for it to be considered by FTX.
so without KYC you can check how much of your funds FTX owes you, but without KYC you can't count on receiving them. In my opinion, this mechanism was created for those who have many funds on different exchanges and constantly transfer them and do not remember whether they left $50 or $5,000 on FTX.

But first. Make sure its not phising.

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

From what I remember, FTX had about $9 billion in client funds. currently it is said that they will dump about $3 billion woth of coins, of which $1 billion is worthless FTT and SOL, so it can be said that they will recover like $2 billion
of which they will probably record 20% in their books as "operating costs". So in reality they will probably recover $1.6 billion of $9 billion, or about 17%. So I wouldn't count on more than that, and 50% seems unrealistic to me.

[retreat]

-snip-

Now I am confused because on Step 3, it says "KYC is recommended but not required". Says you can skip KYC and move to Step 4 to verify balance and Step 5 to file your claim.

However later it states that you must begin your KYC process and file your claim by Sept 29. Any claim of a customer with an unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info.

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

As far as I know, KYC is necessary for creditors and regulators to be able to verify users and match them with data held at FTX. Yes, it is the user's right not to include KYC, so you can skip this, but the problem is because KYC is needed to verify the user, meaning if you don't fill in this, the creditor can reject your request and not return your money.

[Wapfika]

I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

You will be lucky if you will get a cent for a dollar on this refund process since FTX reserves is on FTT and SOL which will surely deplete most of the liquidity once they liquidate asset.

If you have balance below 1K in there then it's really not worth it if you are KYC conscious person since you only get few dollars in there for indefinite timeline.

[Yamane_Keto]

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

This means that you can reach your account and know your balance to verify this without sending any personal data, you can via email, password and 2FA to reach your account and know the amount required after that if the amount deserves to try to recover it, you will complete the verification of the identity, but if there is no balance or Zero balance you can leave.
It is a way to reduce the number of unwanted requests and I think that many who have less than $ 100 will ignore the completion of all these procedures.

of which they will probably record 20% in their books as "operating costs". So in reality they will probably recover $1.6 billion of $9 billion, or about 17%. So I wouldn't count on more than that, and 50% seems unrealistic to me.

US and Japan are lucky the process of claiming will be faster and about 20% of the assets or more. The problem with international users.

[ajiz138]

You will be lucky if you will get a cent for a dollar on this refund process since FTX reserves is on FTT and SOL which will surely deplete most of the liquidity once they liquidate asset.

If you have balance below 1K in there then it's really not worth it if you are KYC conscious person since you only get few dollars in there for indefinite timeline.

I'm also not sure about this, that FTX will refund its customers 100%, this will be a long story, not to mention the long wait to verify, so I will pass on FTX's claim. In fact, it's not that much of an asset there, I'll let it go.
I think a balance of $1000 is big, maybe some people who have a balance on FTX that big will do it, but yeah it will go through a long process and this will probably take years.
With FTX going to liquidate several other assets, I don't think it will be easy for customers to get their hands on them.

[JeromeTash]

I did not find any link to https://claims.ftx.com/ from https://restructuring.ra.kroll.com/FTX/

I search it on FTX Twitter and did not find any tweet about claiming with that link. Could you share where you got the link, please.

The link is contained even in an email FTX sent to me or other users regarding the claiming process, so it's a legitimate link

For those that are not aware, the deadline to claim your debt from FTX is end of September.

https://claims.ftx.com/

From there you login as usual, 2FA as usual and confirm your email.

Now I am confused because on Step 3, it says "KYC is recommended but not required". Says you can skip KYC and move to Step 4 to verify balance and Step 5 to file your claim.

However later it states that you must begin your KYC process and file your claim by Sept 29. Any claim of a customer with an unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info.

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

KYC is not required for you to proceed to step 4 and step 5, but it does not mean that you are not supposed to KYC afterward. KYC before Sept 29th is required for final verification or you may not receive anything

[Woodie]

I did not find any link to https://claims.ftx.com/ from https://restructuring.ra.kroll.com/FTX/

I search it on FTX Twitter and did not find any tweet about claiming with that link. Could you share where you got the link, please.

My search goes with FTX Users Potentially Targeted in Possible Phishing Attack as Bankruptcy Claims Deadline Nears that has a link to direct me to FTX Debtors Launch Online Claims Portal for Customers

I agree with you that if the value is small, skip it is better than KYC and lose documents to FTX.

It actually adds up, these scammers might not be after funds possibly lost on FTX, but other exchange accounts might be the target as they harvest user data that they can use later on, especially knowing that we crypto users usually get to use more than one exchange for different reasons!

Secondly, what seems to be a red flag from that claiming process is how poorly they have infused the need to undergo KYC by them making it optional and then later saying "unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info" That line alone is off and best to verify this from their official social media accounts or get news from our reputable crypto news outlets.

Based on the search cache in my browser, the claims portal page used to be as follows: https://claims.ftx.com/kroll-portal
Then a few days ago I read this thread that their restructuring agency had a data breach. I think they have canceled cooperation in this case considering the link above is no longer available.

Data breach you don't say, anybody affected by this should handle this with due diligence!

I mean when such an occurrence happens isn't ample time supposed to be given to its clients, but here timeline is tight my guess, this is meant to cause panic and prompt users to give up their data for their coins..btw any emails of any sort as a reminder to claim as they should have this info on file if the verification process is real

[gunhell16]

For those that are not aware, the deadline to claim your debt from FTX is end of September.

https://claims.ftx.com/

From there you login as usual, 2FA as usual and confirm your email.

Now I am confused because on Step 3, it says "KYC is recommended but not required". Says you can skip KYC and move to Step 4 to verify balance and Step 5 to file your claim.

However later it states that you must begin your KYC process and file your claim by Sept 29. Any claim of a customer with an unverified KYC status will be deemed unverified and the Debtors reserve to object such claims on missing or incomplete KYC info.

Does anyone know what this means? I would KYC if I knew 100% I would get back at least 50% of my funds. If in 5 years, all I get is 10% then they can just keep it and not going to bother with this.

This is what? Is it true that the link you provided will serve as a bridge for those who were previously harmed by the FTX controversy to receive their invested funds back? Like what you're saying right now. Simply put, I'm not sure if what I understand is accurate.

If it is true that all of the victims of Ftx prior would have their money back through this, it is wonderful news for them, though I seem to have some skepticism about it personally. But I sincerely hope that is the case so that those who have been harmed can relax and avoid feeling anxious at the same time.

[adaseb]

With the MtGox bankruptcy I think they gave people almost 10 years to file their claim. I think some people had up to last year to file a claim.

So this is why I am surprised they are rushing you to KYC by end of September when this will most likely drag on for the next 5 years.

Also who knows how much will be left. If it’s 15% then obviously it’s not worth the hassle unless you had at least close to 5 figures in there.

They own lots of SOL but if I understand correctly, most of it is still locked. BTC and ETH are the most liquid but they don’t hold that much of those to begin with.

[Tytanowy Janusz]

of which they will probably record 20% in their books as "operating costs". So in reality they will probably recover $1.6 billion of $9 billion, or about 17%. So I wouldn't count on more than that, and 50% seems unrealistic to me.

US and Japan are lucky the process of claiming will be faster and about 20% of the assets or more. The problem with international users.

yep. Thats the case too. FTX will most likely pay back those who are in juristdictions, that care most about investors  (which have more potential for prosecution and issuing arrest warrants). So the US users will probably be paid first.

@OP 10% is most likely what you will get unless there are many people who will give up.

[Leuchtturmwaerter]

Does anybody know if the 29th of Sep really is the final deadline?

[stomachgrowls]

Does anybody know if the 29th of Sep really is the final deadline?

Yes, basing up on reading their support page.

The deadline for filing a proof of claim on account of your customer claim is September 29, 2023 at 4pm ET.
https://support.ftx.com/hc/en-us/articles/16738866768788-Filing-a-Customer-Claim

So it this would really be the last day for those who do tend to claim. Pretty sure that it would really be requiring that KYC
knowing that this is something that do attached with claims. Speaking about on when it would really be given out and how much % they will really be tending to return
then everything is something that cant be answered by only by them.

[salad daging]

So it this would really be the last day for those who do tend to claim. Pretty sure that it would really be requiring that KYC
knowing that this is something that do attached with claims. Speaking about on when it would really be given out and how much % they will really be tending to return
then everything is something that cant be answered by only by them.

I have been ignoring the incoming email messages about the deadline for claims at FTX that have assets there, but I don't do that, the assets there are not that big so let it be.

It is very difficult to find an answer whether customer funds will be returned in full? It's still in the KYC process stage to claim and it hasn't been verified yet, it will take a long time and you will definitely wait longer without certainty.

Don't get your hopes up, because there is no hope in the near future.