Backpack exchange has initiated withdrawals for customers of the defunct FTX EU, allowing them to reclaim trapped euro balances. Announced on May 12, this process enables eligible FTX EU users who selected Backpack as their redistribution platform to access their funds by completing Know Your Customer (KYC) verification. All claims must match the personal details on the original FTX EU account to avoid delays.
FTX EU customers must create a Backpack EU account, undergo verification, and submit bank details, including recent statements, to proceed. Fees for withdrawals depend on the amount and are determined by Backpack’s banking partners. Currently, only euro claims are supported—crypto withdrawals remain unavailable.
This follows Backpack’s acquisition of FTX EU in January 2025. While the process marks significant progress for FTX EU victims, disputes remain over the ultimate ownership of FTX EU between Backpack and the FTX estate. There is no set deadline for claims, but funds left unclaimed will eventually be handled under relevant financial laws.