Crypto redistribution platform Backpack now gives FTX EU creditors the ability to claim their balances from the bankrupt crypto exchange. Creditors who opted for Backpack as their choice of redistribution platform can now claim their EU balance, but they have to complete their KYC (Know Your Customer) procedure, as reported by Cointelegraph.
According to an X post by the company on May 12, 2025, Backpack simplifies the process for former FTX users to get their money, which can be done by getting verified and then claiming your funds.
Backpack’s support page says people interested in withdrawing from their accounts must use the same details they provided to FTX EU.
After completing the KYC, FTX EU account holders must provide a bank statement dated within the last three months that shows their IBAN, full name, and registered address. The details should match the information provided on their withdrawal request form.
The support page also states that delays may occur due to the high volume of submissions, with processing potentially taking over a month.
After FTX went bankrupt in 2022, Backpack made a deal to acquire FTX EU in January 2025 in a bid to offer crypto derivatives in Europe.