- Backpack has announced a two-step claims process for former FTX EU users.
- This process will allow users to receive euro distributions if they held assets on the EU arm of the collapsed FTX exchange.
- Backpack acquired FTX EU in January 2025.
Backpack has officially launched a claims process for former FTX EU customers. The regulated crypto exchange, which announced earlier this year that it had acquired FTX’s European arm, shared the news via a post on X on April 1, 2025.
According to Backpack, former FTX customers can now enroll in a two-step process to participate in the euro distribution intended for EU users of the collapsed exchange.
This EU-focused claims rollout follows a similar effort aimed at the global user base of the defunct exchange.
Backpack outlines claim steps for FTX EU users
The first step in Backpack EU’s fund redistribution initiative requires claimants to complete a verification process. This verification stage is now active and asks users to verify their identity through the claims page provided by Backpack.
After completing step one, the next phase will enable fund withdrawals. That withdrawal phase is not yet active; Backpack EU will open customer withdrawals at a later date.
“Former FTX EU customers can now begin the two-step process to claim their euro funds through Backpack EU. Step 1, identity verification, is live,” Backpack wrote on X.
Backpack announced its acquisition of FTX EU in January 2025, stating the deal had received regulatory approval from the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC).
The acquisition means Backpack took control of the MiFID II–licensed FTX EU, the now-defunct EU-regulated branch of FTX. The euro claims process for EU customers is part of broader efforts to return assets to FTX creditors.
On February 18, 2025, FTX announced the start of an initial distribution to allowed claimholders. The FTX estate also set April 11, 2025 as the record date for the next distribution.
(2/3) FTX also announced the anticipated record date for the next distribution will be April 11, 2025 for holders of allowed claims of FTX’s Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims as defined in the Plan.
— FTX (@FTX_Official) February 18, 2025
FTX, once among the world’s largest crypto exchanges, collapsed dramatically in November 2022, leaving millions of users affected worldwide. The complex bankruptcy process has continued since then. Backpack’s initiative is separate from the FTX estate proceedings.
“If you were a former user of the FTX trading platform and live in the European Union, you may have been a customer of FTX EU or FTX International, depending on when and how you registered and the types of assets you held on FTX. As a reminder, Backpack is not involved in the FTX bankruptcy process in the United States,” Backpack stated on its website.
Backpack’s FAQ page also addresses common questions about how to file a claim and how funds will be received.