Yigit Taha OZTURK 
Around 392,000 users of the collapsed crypto exchange FTX may lose their claims totaling $2.5 billion due to not starting the mandatory KYC process, according to a court filing dated April 2.
Originally due on March 3, 2025, the KYC Commencing Deadline has now been extended to June 1, 2025, offering a final window to secure their funds.
Claims Will Be Disqualified
“If KYC is not commenced by the deadline, such claim shall be disallowed and expunged.” — U.S. Bankruptcy Court, Delaware
Claims under $50,000 may account for $655 million, while larger claims exceed $1.9 billion, making the total at-risk amount over $2.5 billion.
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The next repayment round is scheduled for May 30, 2025, where $11 billion is expected to be distributed to high-value creditors.
How to Complete KYC
Some users have reported issues with the KYC portal. Here’s how to fix it:
- Email support@ftx.com to get a ticket number.
- Log in to the FTX support portal.
- Create an account and re-upload KYC documents.
An April 5 update by Sunil, a Customer Ad-Hoc Committee member, confirmed that users can restart the verification process.
FTX Repayments and Market Sentiment
FTX’s first repayments were made in February 2025, with $1.2 billion returned via FTX Digital Markets. Though not a market-moving event, experts believe it signals recovery in the crypto space.
Bitget Wallet COO Alvin Kan told Cointelegraph that these repayments could lead to a “significant portion” of funds being reinvested into cryptocurrencies.
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