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FTX Reopens its Claim Portal with Strengthened Security Measures

FTX Reopens its Claim Portal with Strengthened Security Measures

After almost three weeks, FTX's customer claim portal is up and running.

In the aftermath of a cybersecurity incident, FTX, the now-bankrupt cryptocurrency exchange, has strengthened its customer claims portal

The service had been disabled in August following the initial discovery of the cyberattack against Kroll

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Three weeks after the halt, on September 16th, FTX took to social media to note that the cyber-incident was limited to Kroll, their designated bankruptcy claims handler. 

While some non-sensitive user data was exposed, FTX clarified that crucial information like passwords and user funds were not compromised.

Following FTX's announcement, users who had accounts at FTX-related entities, including FTX US, Blockfolio, FTX EU, FTX Japan, and Liquid, can now access their accounts to file their claims.

It is worth noting that the crypto exchange faces a substantial backlog of claims. An estimated 36,075 customer claims worth around $16 billion have been submitted against FTX and its US subsidiary. Of these, only about 10% have been settled so far

Additionally, FTX is looking at 2,300 non-customer claims totaling a staggering $65 billion, including entries from other financial platforms like Genesis, Celsius, and Voyager.

On another front, FTX received a legal boost recently when a Delaware Bankruptcy Court permitted it to liquidate its digital assets. The ruling from Judge John Dorsey allows FTX to unload its holdings in a phased manner, initially allowing up to $50 million and then increasing to $100 million in the following weeks. The court, however, has placed restrictions on the sale of Bitcoin (BTC), Ether (ETH), and other tokens tied to insiders.

FTX has taken steps to secure its customer claims portal following a cybersecurity incident and is moving forward in resolving its bankruptcy issues. Given the high stakes involved, the enhanced security measures are set to help the company and its numerous claimants.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.



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