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FTX EU Launches Withdrawal Site for Reimbursing European Customers

FTX EU launched a dedicated website to reimburse European customers following the trading platform's collapse and subsequent bankruptcy.

FTX logo
FTX logo

FTX EU's Regulatory Approval and Collapse Timeline

FTX EU, the European arm of FTX, received approval from the Cyprus regulator in March 2022, only to collapse in November of the same year. The company has launched a website to help European users submit withdrawal requests and get their money back after the global trading platform's bankruptcy.

New Domain Approved by CySEC for Reimbursements

The Cyprus Securities and Exchange Commission (CySEC) has approved the new website domain, as reported by Finance Magnates. This domain will exclusively focus on paying back impacted customers without offering other products or services.

FTX EU's Limited Services and Impacted Users

FTX EU was accessible to users in the European Economic Area and the Middle East. However, the exact number of affected users remains unclear. Considering FTX EU was available only from March to November 2022, the impact is expected to be limited.

Flag of Japan and FTX logo
Flag of Japan and FTX logo

FTX Japan Reimburses Affected Customers

FTX Japan, another subsidiary of the global enterprise, has already made amends to its impacted customers. In late February, the company allowed a total withdrawal of funds, which amounted to about $50 million.

FTX EU's Suspension and Bankruptcy Filing

The Cyprus regulator requested FTX EU to suspend its operations on November 9th, shortly before FTX Group and its 130 affiliated companies, including FTX EU, officially filed for bankruptcy on November 11th. FTX Europe was headquartered in Switzerland during its short operational period.