FTX Reopens Claims Portal for Users Affected by Cybersecurity Incident
FTX has reopened its customer claims portal, allowing users whose accounts were affected by a cybersecurity incident in August to access their accounts and proceed with the claims process. The freezing of customer accounts was a precautionary measure, and FTX has implemented additional security measures on the claims platform to ensure the safety of user accounts. Account holders of the defunct crypto exchange can now seek compensation for their losses.
Claims Portal Availability and Process
The claims portal is available to individuals who hold accounts with FTX, FTX US, Blockfolio, FTX EU, FTX Japan, and Liquid. Users affected by the incident can resume their claims process and file a proof of claim with Kroll until September 29. While the extent of the value that creditors will recover remains uncertain, the judge overseeing FTX’s bankruptcy case has approved the liquidation of its digital assets.
Over $16B Worth of Claims Filed Against FTX and FTX.US
In a recent court filing, FTX disclosed that 36,075 customer claims worth $16 billion have been filed against the exchange and its US arm. The company stated that 10% of those claims had been agreed upon. Additionally, 2,300 non-customer claims worth $65 billion have been filed against FTX, including those from Genesis, Celsius, and Voyager.
FTX’s Assets and Potential Sale
FTX holds approximately $7 billion in assets, including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC). The company has secured $1.5 billion in cash in addition to the $1.1 billion it held at the time of filing for bankruptcy. FTX also possesses $3.4 billion worth of various cryptocurrencies, including lesser-known tokens. A judge has ruled that FTX can sell and invest its crypto holdings to repay creditors.
Justin Sun Considers Bid for FTX Assets
Justin Sun, the founder of Tron Network, is considering making a bid for the assets held by FTX to minimize the market impact of a sale and stimulate growth in the sector.
Hot Take: FTX Reopens Claims Portal and Prepares for Asset Liquidation
FTX has reopened its claims portal, allowing users affected by a cybersecurity incident to resume the claims process. With over $16 billion worth of claims filed against FTX and FTX US, the extent of creditor recovery remains uncertain. However, FTX’s approval to liquidate its digital assets provides some hope for compensation. Justin Sun’s potential bid for FTX’s assets adds an interesting twist to the situation as he aims to reduce market impact and foster growth in the crypto sector.
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