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:

1. Email support@ftx.com to get a ticket number.
2. Log in to the FTX support portal.
3. 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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The post $2.5B at Risk: FTX Users Must Act Before June 1 appeared first on Coin Engineer.