FTX EU, the European arm of FTX, plans to return customer funds that have been frozen since last November. To this end, the platform has launched a website for European customers to submit withdrawal requests. After a lengthy reach, FTX finally confirmed this return process, allaying fears of a scam masquerading as a refund process.
Soon the end of the ordeal for FTX’s European customers
Almost five months after the collapse of FTX, many users of the platform are still in turmoil… Except for users of the Japanese branch of FTX which has resumed withdrawals last February.
But, this ordeal could soon end for some European users of FTX. Indeed, FTX EU, the European branch of FTX has launched a website to allow European customers to submit withdrawal requests.
It is in this sense that support@ftxeurope.eu sent an email to some FTX EU customers, inviting them to claim their balance on the site https://ftxeurope.eu. This website has well was registered in the name of FTX EU by the Cypriot SEC in March 2022.
FTX EU has made it known that this domain will only be used for withdrawals of funds blocked on FTX. In addition, only customers of FTX EU LTD are eligible for reimbursement via this site. These are European customers registered on FTX after March 2022, the date of obtaining the license of FTX EU by the Cypriot SEC.
Please note that our new domain has been approved by the regulator CySEC. The website will exclusively be used by all FTX EU LTD customers to claim their FIAT balances. No services or products will be offered through this site.
FTX EU
On the site, users are asked to log in using their passwords.
Well before the announcement of the submission of withdrawal requests on FTX, an email from the company in charge of the restructuring of FTX was sent to several European customers of FTX. The email provided the exact digital assets held on FTX by the customers before the platform’s bankruptcy.
FTX EU refund procedure is not a scam reassures FTX
The news of a possible refund of funds for FTX EU customers is undoubtedly encouraging for the crypto industry and a real relief for victims who have lost control of their funds over the past five months. Unfortunately, this process has seen a lack of communication from FTX. In a context where emerging scams in the form of refunds are emerging FTX customers, some of them have been cautious.
But FTX finally confirmed the procedure this 31 March.
European FTX users are likely to get their funds back. This is great news that would never have been possible without rational legislation of the crypto sector by the Cypriot SEC. It should be noted, however, that the likely rebate only affects FTX EU LTD customers registered in Europe after March 07, 2022. Other FTX users will have to wait for the ongoing legal proceedings in the US.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
