400,000 FTX Users Could Lose $2.5 Billion in Repayments
Nearly 400,000 former FTX users face losing access to over $2.5 billion in repayments if they don’t complete identity verification by June 1.
A recent US Bankruptcy Court filing in Delaware revealed that approximately 392,000 people missed the original March 3 deadline for the Know Your Customer (KYC) process. The court has extended this deadline, offering users one last chance to verify their identity.
According to the filing, anyone who hasn’t begun the KYC process by 11 a.m. UTC on June 1, 2025, will have their claims disqualified.
These disallowed claims span 2,377 pages of court documents. Missing the new deadline means forfeiting the right to repayment—regardless of the amount owed. Claims under $50,000 total around $655 million, while those over $50,000 could reach $1.9 billion, putting more than $2.5 billion at risk.
