How to File an FTX Bankruptcy Claim? Please Keep This Official Guide
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How to File an FTX Bankruptcy Claim? Please Keep This Official Guide
Qualified customers and non-customer creditors can log in to the website to submit relevant information for claims, involving a total of five steps.
Navigating Web3 tides with focused insightsSource: PWC
Compiled by: Jordan, PANews
After a long wait, the Joint Official Liquidators (JOL) of FTX, appointed by PricewaterhouseCoopers (PwC), have updated the liquidation claims process and officially launched the claims portal for FTX Digital Markets—the primary regulated and licensed entity of the international FTX platform.
According to disclosed information, FTX will notify eligible customers and non-customer creditors to submit proof of claim and related information through the FTX Digital Markets claims portal. Only customers and non-customer creditors who electronically file their claims before the deadline of May 15, 2024, and whose claims are subsequently recognized, will be eligible to receive distributions from the liquidation proceeds under the Bahamian proceedings.
FTX Liquidation Claims Timeline
Before exploring how to apply for an FTX liquidation claim, let's briefly review the key timeline of events:
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On November 10, 2022, the Securities Commission of The Bahamas filed a petition with the Commercial Division of the Supreme Court of The Bahamas for the liquidation of FTX Digital Markets Ltd. and suspended its license to operate as a digital asset business. On the same day, the liquidation process for FTX Digital officially began.
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On November 14, 2022, Kevin Cambridge of PwC Bahamas and Peter Greaves of PwC Hong Kong were appointed by the Supreme Court of The Bahamas as joint provisional liquidators.
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On February 15, 2023, the U.S. Bankruptcy Court for the District of Delaware recognized the Bahamian provisional liquidation as the main proceeding.
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On November 10, 2023, after hearing evidence submitted by representatives of the Securities Commission of The Bahamas, the Joint Provisional Liquidators, and counsel for FTX Trading Ltd., the Supreme Court of The Bahamas appointed the Joint Provisional Liquidators as Joint Official Liquidators (JOL) and ordered the liquidation of FTX in accordance with the provisions of the Companies Act 1992 (as revised) and the Companies (Winding Up Amendment) Act 2011 applicable to international business companies.
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On March 3, 2024, the FTX claims portal officially went live. Eligible customers and non-customer creditors must submit their proof of claim by May 15, 2024, to claim their entitlement.
FTX Liquidation Claims Guide
As the Joint Official Liquidators of FTX, PwC has now officially launched the FTX Digital Markets claims portal. Eligible customers and non-customer creditors can log in to this website to submit relevant information and file claims. The process involves five steps, detailed as follows:
1. Account Registration – Create an Account on the Claims Portal
To submit a claim, you must first create an account on the FTX claims portal. Once registered, you can link your FTX account, view your account balance, and submit a liquidation claim. (Note: Users from Australia, Europe, Turkey, or Japan may be processed under separate procedures.)
As required by FTX, account creation requires providing contact and personal details (including name, phone number, email address, date of birth, and account opening date—see image above), as well as the type of claimant (individual customer, institutional customer, or non-customer creditor—as shown below).
It should be noted that individual customers refer to those filing claims under their personal name for "FTX.com" or "FTX International"; institutional customers are those filing claims under a corporate name; and non-customer creditors are trading creditors who provided goods or services to FTX Digital (a small number of employees may fall into this category). The registration requirements differ among these three types, as illustrated below:
After successfully completing all the above information, click the "Next" button. A pop-up window will appear indicating that an email containing a "one-time PIN" has been sent. You must enter this PIN on the next page (see image below). If you do not receive the email, please check your spam folder or click "Resend Verification Email."
2. Register Creditor and Customer Account Details
To submit a claim, you must also provide additional information to register as a creditor and link your FTX account to the newly created FTX Digital claims portal account. Only after linking your FTX account to the FTX Digital claims portal can you submit a claim for that FTX account and view the associated account balance. You may then choose to accept the displayed balance or dispute it, providing further details and supporting documentation to substantiate your claimed amount.
After setting up your FTX Digital claims portal account, you can log in at any time using your username and password (see image above). However, each login will require another email containing a "one-time PIN code." In fact, every time you log in to the claims website, you must obtain a "one-time PIN code" via email to ensure account security.
After logging in, you will proceed to the "Creditor and Customer Account Details Registration" section and input the following information:
Step 1: "Current Claimant Information" – Fill in all required fields (name, date of birth, phone number, address, country/region of residence, occupation, nationality, ID number)
Note: Acceptable/recommended ID numbers include passport, national ID, and/or driver’s license numbers, depending on the jurisdiction.
Step 2: Link FTX Account – Enter the email address associated with your FTX account. This will link your FTX account to one FTX Digital claims portal account. After entering the email address, a verification code will be sent to the linked email to confirm ownership of the account.
Once the FTX account is successfully linked, you will be able to view the balance information for review.
3. Balance Acceptance – Accept or Dispute the Listed Balance
After completing the FTX account linkage, you will be directed to the balance page, which displays detailed portfolio information and account balances, as shown below:
At this point, you can choose to accept or dispute the balance figure in the lower-right corner of the page and proceed to the following screen:
If you wish to dispute the balance (i.e., Dispute Portfolio), you must provide additional details to substantiate your claimed amount:
Part 1 (see image below) – Details of customer/non-customer: full name, primary residential address, primary contact phone number, and email address (the email associated with the FTX account).
Part 2 – Claim Amount (in USD or USD equivalent): Enter the detailed amount being claimed.
Part 3 – Basis of Claim: Provide a detailed explanation of the reason for the claim and attach supporting documents to verify the claimed funds. Supported file formats include images (e.g., jpeg, png), PDF, Word, or Excel (including CSV). Email uploads (e.g., .msg files) are not accepted. If emails are involved, they must be saved as PDFs before uploading.
Part 4 – Acquired/Transferred Claim: If the FTX assets were purchased from another party, indicate the relevant information.
Part 5 – Security: Indicate if you hold any security (i.e., mortgage, charge, or other collateral) related to the claim.
After completing the above steps—or after directly confirming acceptance of the claimed amount—users will be taken to a dashboard page. This dashboard will confirm the claimed amount and prompt you to submit the information. Once you enter your name, identification, contact details, and signature and select "Submit," the claim information cannot be modified.
4. Identity Verification
The Joint Official Liquidators will conduct anti-money laundering (AML) and know-your-customer (KYC) procedures to confirm that creditors have legitimate rights to their accounts and to help prevent fraudulent activities.
As part of the KYC process, customers and non-customer creditors are required to submit identity information and supporting documents for review. These procedures help verify creditor identities and accounts and enhance the security of the FTX Digital claims process. Completion of the KYC process is not the sole determining factor for whether a claim can be paid, as there may be external restrictions on distributing funds in certain jurisdictions.
Since this step is handled "in the background" by the FTX Joint Official Liquidators, claimants do not need to take any action. Notification will be sent via email once identity verification is complete.
5. Settlement and Transfer of Claimed Assets
After completing the above steps, the FTX Digital claim will enter the formal adjudication phase. Creditors will receive determination outcomes, and the first interim dividend distribution is expected to be made by the end of 2024 or early 2025.
Security Reminder
When submitting information, pay attention to the official website URL to avoid phishing scams and fraudulent emails. FTX creditors should verify the authenticity of received messages and the legitimacy of related email addresses. If needed, communicate only through official email addresses listed on the website and confirm all relevant information accordingly.
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