From Cointelegraph

April 6, 2025 06:31 AM:

Nearly 400,000 FTX creditors risk missing out on $2.5 billion in repayments after failing to complete mandatory KYC verification. 392,000 creditors have not started the process. The deadline was extended to June 1, 2025. Claims under $50,000 could result in $655 million in disallowed repayments. FTX plans to repay over $11 billion to creditors with claims over $50,000 on May 30, 2025.

Users facing issues with the KYC process can resubmit their application. They should email FTX support for a ticket number and re-upload the necessary documents. FTX Digital Markets has already distributed $1.2 billion in repayments. The industry is recovering from the collapse, with the FTX repayments seen as a positive sign for crypto maturity.

FTX creditors have until June 1, 2025, to complete KYC verification to receive repayments. Over $2.5 billion is at risk if creditors fail to meet the new deadline. FTX plans to repay over $11 billion to creditors with claims over $50,000 on May 30, 2025. The industry is recovering from the collapse, with FTX repayments seen as a positive sign for crypto maturity.

Read more at Cointelegraph: Nearly 400,000 FTX users risk losing $2.5 billion in repayments