FTX EU creditors can now withdraw money from Backpack exchange
Summary
Backpack allows customers of the defunct FTX EU to reclaim funds. Users must complete KYC verification matching their FTX EU details to withdraw euro balances. The claims process opened on April 1, 2023, with no set deadline. Not all EU-based users are FTX EU users; only those who signed up after March 7, 2022, on the FTX EU platform qualify. Backpack acquired FTX EU in January 2025 to provide crypto derivatives in Europe, following a protracted acquisition process. Backpack's CEO stated the firm aims to return FTX EU funds quickly and safely. A dispute arose regarding ownership rights, with the US-based FTX estate claiming shares of FTX EU remain with FTX Europe AG, a subsidiary of FTX.
