FTX News: Backpack Launches Identity Verification Process for FTX EU Claimants

In a move to assist users of the now-defunct FTX EU platform, crypto exchange Backpack has officially kicked off the claims process. Here’s what you need to know.

Backpack Launches Identity Verification for FTX EU Claimants

Crypto exchange Backpack has officially launched the claims process for users of the defunct FTX EU platform. Claimants must complete KYC verification using the same email address they used on FTX EU to confirm the legitimacy of each claim and prevent fraudulent requests. The second step, involving fund withdrawals, has yet to be announced. Backpack CEO Armani Ferrante emphasized that returning funds as quickly and safely as possible is their top priority.

FTX EU Repayment in View as Backpack Begins Verification

Backpack crypto exchange has opened the verification process for former FTX EU customers, marking a key step in the long-awaited repayment process. This development follows Backpack’s acquisition of FTX EU earlier this year and its commitment to handling users’ claims and reimbursements. On April 1, Backpack officially launched its claims verification process, allowing former FTX EU users to confirm their identities before any repayments take place. Customers must complete a Know Your Customer (KYC) verification using the same email address they used on FTX EU.