When will FTX start paying out?

[drawer]

Does anyone know when FTX payments will be launched? The media is silent on this matter, and there is a lot of money in the form of USDT to be paid, which would drive the market up significantly, especially alts....

[JeromeTash]

If you were one of the users of FTX who even had the slightest balance in crypto with them, and you went through the process of verification. Then you should be able to receive notifications and updates on what's going on.

I had an account with them, didn't even verify, but I keep getting updates from their via email. The process is a very long one, so don't expect it to happen very soon or overnight. Also don't expect the media to report every thing.

[Potato Chips]

As pointed out, your emails are gonna be the most accurate-- be careful with phishing emails, though as I've seen good amount of fake emails being sent out to ftx users.

Or are you not a victim and just trying to time a trade?

But from what we know, it will be in batches. And the first payout are expected to roll out within 60 days since January 3rd so it could be in a few weeks from now. I believe, it's likely we could see some buzz from some folks. 🤔

The first batch of customers will begin receiving payments within 60 days of the Jan. 3 effective date, provided they meet certain conditions.

[examplens]

As pointed out, your emails are gonna be the most accurate-- be careful with phishing emails, though as I've seen good amount of fake emails being sent out to ftx users.

Or are you not a victim and just trying to time a trade?

But from what we know, it will be in batches. And the first payout are expected to roll out within 60 days since January 3rd so it could be in a few weeks from now. I believe, it's likely we could see some buzz from some folks. 🤔

The first batch of customers will begin receiving payments within 60 days of the Jan. 3 effective date, provided they meet certain conditions.

If I'm not mistaken, they've already postponed the planned refund twice. If I don't go into the justification of the reason why they delayed until now, I wouldn't be surprised if it happens again.
Is there any information at all about who currently has control over these funds?

[Porfirii]

I don't know how things are going with FTX, but I was affected by the closure of Cryptopia which happened back in 2019 if my memory doesn't fail, and I've just received my coins back two months ago. So, if things go the same way, you can expect to receive them in 5 years.

The good news is that when the cryptopia case happened there were few precedents (Mt.Gox and a few more) but as time goes by these catastrophes are becoming more and more common, which will surely make the deadlines shorten.

[Potato Chips]

If I'm not mistaken, they've already postponed the planned refund twice. If I don't go into the justification of the reason why they delayed until now, I wouldn't be surprised if it happens again.

Yeah, that sucked. But it looks like third time is the charm lol.

At the moment, there are emails circulating that the first batch of payment is set to roll out this February, 18th.



Source: https://x.com/sunil_trades/status/1886796657259376733

Looking at the email plus, I did a quick cross-check, the whole thing seems authentic. Anyone else who has received the email?

I wonder how much of the pot will this first batch cover. 🤔

Is there any information at all about who currently has control over these funds?

No idea, honestly. The only thing I heard of is bitgo and kraken will help in distribution.

[virasog]

FTX has started the repayment process, but exact timelines depend on court approvals and asset recovery. Stay updated through official announcements to avoid misinformation.

Maybe they will start the repayment process on February 18th. But nothing is clear as of now, and as I read in another thread FTX Customer Claims Portal, people aren't happy with the transparency of the process. I don't know how Kraken and BitGo will distribute the funds. Has FTX already transferred all those users' funds to these distributors?

Another thing is that the creditors will not receive their bitcoins or other crypto but their equivalent value. They will calculate the bitcoin prices as of Nov 2022 when bitcoin was even less the 20,000$. They will give 9% interest over it, but it is nowhere near the current Bitcoin prices. 

[Renampun]

Does anyone know when FTX payments will be launched? The media is silent on this matter, and there is a lot of money in the form of USDT to be paid, which would drive the market up significantly, especially alts....

I am still waiting for news about this, I have several crypto assets that are still locked there, I do routinely get emails from support@ftx but until now there has been no follow-up, I don't know if the media will continue to expose news about FTX and I am quite surprised that there are still people who buy and sell FTX tokens.

[Potato Chips]

I am still waiting for news about this, I have several crypto assets that are still locked there, I do routinely get emails from support@ftx but until now there has been no follow-up, I don't know if the media will continue to expose news about FTX and I am quite surprised that there are still people who buy and sell FTX tokens.

AFAIK. they have started rolling out disbursements hence your turn could be be any day now or at least closer than before. I hope you'll have a smooth claiming.

Keeping up with your emails is a step in the right direction. You may also wanna chime in r/FTXOfficial to see how other claimants are doing. I've seen the community do some sort of phishing awareness and I think it's pretty helpful for the community as victims information have been leaked before.

[Bitcoin_Arena]

Maybe they will start the repayment process on February 18th.

According to multiple sources such as coindesk or Bloomberg a couple of day back, they start that the repayment process may start on the 30th of May 2025? What a joke  
Why not just say 1st June?
At this point, I won't be surprised if they postpone from the May date as well.

[cryptocoinplay]

I have seen this kind of scams many times in my life. I am not sure what is going to happen next!
But what I think is it is not going to pay soon!

[Bitcoin_Arena]

I have seen this kind of scams many times in my life. I am not sure what is going to happen next!
But what I think is it is not going to pay soon!

That's expected. I am pretty sure there is going to be a new date to process repayment will be announced. Some users are already taking of receiving emails regarding the new deadline for KYC verification which also happens to be at the end of May 2025 so, the creditors better strap themselves up for a longer bumpy ride.

[OmegaStarScream]

That's expected. I am pretty sure there is going to be a new date to process repayment will be announced. Some users are already taking of receiving emails regarding the new deadline for KYC verification which also happens to be at the end of May 2025 so, the creditors better strap themselves up for a longer bumpy ride.

I would say they would only postpone this again, if the people who didn't go through KYC (around ~400,000 of them) fails to pass their KYC again by the 31st of May and I would be really surprised, if they fail again!