Crypto exchange Backpack has begun the claims process for former FTX users in Europe, following its acquisition of FTX EU in January 2025. Users must create an account on Backpack, submit Know Your Customer (KYC) information, and link their accounts to the FTX EU claims process. Although there is no deadline set for this claims phase, a withdrawal fee of €5 will apply for claims under €2,000, with a 0.25% fee for larger amounts. CEO Armani Ferrante expressed the company's commitment to returning funds promptly. However, some confusion remains among users regarding who will handle their reimbursements, with concerns voiced about the distribution process. Users with active cryptocurrency withdrawals on the day FTX collapsed should have filed claims in FTX's US bankruptcy proceedings, as Backpack is not involved in those distributions. Moreover, EU residents who joined FTX before March 7, 2022, should direct their claims to FTX International instead of Backpack. The next reimbursement round from the FTX Estate is scheduled for May 30, targeting specific classes of claims.

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