FTX Reactivates Its Claim Portal

FTX has announced the reactivation of its Customer Claim Portal, now fortified with enhanced security protocols, following the recent cybersecurity breach.

Failed exchange FTX has reactivated its customer request portal with stronger security protocols following a cybersecurity breach in August that affected user data. The company announced that the demand portal was reopened in a statement made on social media platform X on September 16.

FTX stated that this breach did not affect any financial system or bankruptcy process. While the breach was said to have exposed non-sensitive customer data of certain plaintiffs, FTX underlined that passwords and funds were safe.

Claim Process and Security Measures

The bankrupt FTX has announced that its customers can make claims for digital assets they held on the exchange before the bankruptcy.

Customers need to submit their claims to Kroll, the appointed bankruptcy compensation representative, by September 29th. The claim portal is designed to also apply for various subsidiaries of FTX, including FTX US, Blockfolio, FTX EU, FTX Japan, and Liquid.

There is no information yet on how much compensation creditors will receive, but the judge in FTX’s bankruptcy case recently approved the company’s plan to start liquidating its digital assets.

By enhancing security and reopening the claim portal following the cyber breach, FTX has taken a significant step towards restoring customer trust. Account holders will be able to continue the claim process for the digital assets they held on the exchange before declaring bankruptcy in November 2022. However, more details need to be disclosed about this process and how much compensation will be provided to creditors.

You may interested in; FTX conducted meetings with over 75 bidders for the relaunch of the exchange.

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