Withdrawals from FTX possible again? This information gives hope

Are withdrawals from FTX available again for European users? New information at least gives hope. The authenticity of a new offering is disputed. The fact is that only a small proportion of European customers would be affected anyway.

Withdrawals from crypto exchange possible again?

In November 2022, the crypto exchange collapsed in a spectacular way. The group includes 130 individual companies that are more or less affected by the turmoil. The main crash took place mainly on the international presence of the crypto exchange FTX.com and the US subsidiary FTX.us. However, just a few months earlier, another branch called FTX EU Ltd. was formed.

FTX EU should become the point of contact for European users. Since the company was only launched in March 2022, a large proportion of European customers registered via FTX.com.

For all those users who are FTX EU customers, withdrawals could be possible soon. The company recently launched a new point of contact online where these customers can submit a withdrawal request, Finance Magnates reports .

We would like to inform you that our new domain, www.ftxeurope.eu, has been approved by our regulator, CySEC, as you have already noticed.

Explains FTX EU. CySEC is the Cyprus Securities and Exchange Commission .

The website is only used for all FTX EU LTD customers to claim their FIAT balances. No services or products are offered through this website.

one continues. However, so far no other branch of the company refers to the offer. The company’s largest Twitter account, @FTX_Official, recently only shares information related to current legal disputes.

A knowledgeable Twitter user believes few customers can take advantage of the offer. The tweet contains an image of the website’s user interface.

FTX EU withdrawals realistic?

However, there is currently disagreement in the scene as to whether the website is authentic. According to Finance Magnates, their operator is regulated by the Cyprus Securities and Exchange Commission. In fact, an entry on a Cyprus government website is publicly available. Since no information can be found from official › offices so far, the offer seems dodgy to many users.

The functioning of the website also raises questions. Users are asked to first reset their access data so that they can then log in. The offer itself actually already existed elsewhere.

FTX Japan has allowed customers to withdraw funds in the past. In February, Japanese users already realized withdrawals of 50 million US dollars.

FTX EU is based in Switzerland. The authentic email address [email protected] is entered as the contact.

FTX embezzled $10 billion in customer deposits from both retail and institutional users before it collapsed. The equivalent of several billion US dollars are still not accessible to their rightful owners.

As cryptocurrency prices evolve and exchanged deposits for other assets, the financial damage could continue to increase in the future. So far, investors have been trying in vain to get some of their money back.

In late 2023, the court hearings against the main responsible founder Sam Bankman-Fried begin. Insolvency administrators have already promised to revive the crypto exchange by then.