Huobi exchange comes to FTX’s rescue

Nearly five months after FTX went bankrupt and its customers’ funds were frozen, crypto exchange Huobi has launched an FTX account lookup service. With this service, all FTX users can easily check their FTX account balance on Huobi and closely follow the latest developments in the litigation around the bankruptcy.

Huobi comes to the aid of FTX users in turmoil

Crypto exchange Huobi joins efforts to enable customers of FTX to recover their funds blocked since the platform’s bankruptcy last November. Indeed, the crypto exchange Huobi a launched the account consultation service FTX.

Through this service, all FTX users can check their FTX account balance on Huobi. All they have to do is access the Huobi website, enter the customer code created for each FTX user by the bankruptcy team and specify the token whose balance they want to check.

For now, not all users can access their account balances. Huobi promises to continue updating its service based on public information received by the FTX bankruptcy team.

In addition to checking FTX account balances, the account lookup service Huobi has implemented will also allow FTX users to more closely monitor the progress of the bankruptcy proceedings.

In an environment where scams disguised as refunds to FTX customers are on the rise, this service will allow FTX customers to sort out the real from the fake. 

Since the collapse of FTX last November, only Japanese users of the platform have had their funds returned. This refund was made possible because Liquid, which became FTX’s Japanese subsidiary in February 2022, was not yet under the management of Sam Bankman-Fried at the time of FTX’s collapse.

In addition, some European FTX users could also get their funds back. Indeed, FTX EU has launched a website to allow European customers to submit withdrawal requests. Although this process has been confirmed by FTX, no refunds are yet being considered in Europe. It should also be noted that this process only affects residents registered on FTX after March 2022.

Beyond the Japanese and Europeans, other FTX users are in turmoil. They have to stick to a procedure of restitution of funds that could be long and uncertain.