Investors can finally withdraw their funds from FTX Japan.
FTX Japan, the Japanese subsidiary of troubled cryptocurrency exchange FTX, has resumed its withdrawals.
According to the press release, customers can withdraw their fiat currency and crypto assets via Liquid Japan.
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In order to obtain their funds, investors must confirm their asset balances and move them to their Liquid Japan account. In the press release, the firm highlighted that if users don’t have a Liquid Japan account, they must create one to proceed with the withdrawal process.
On top of that, FTX Japan revealed that it has sent emails to all “eligible customers regarding the details of the procedures.” The Japanese subsidiary of crypto exchange FTX noted that if users struggle to complete the withdrawal process, they should follow a step-by-step guide attached to the email.
At the end of its press release, FTX Japan noted:
Please note that due to the large number of requests from customers, it may take some time for the withdrawal process to be completed. We will announce the resumption of other FTX Japan services as soon as possible.
FTX Japan slammed the brakes on its operations in November 2022 after its parent company, crypto exchange FTX and over 130 related firms filed for bankruptcy. Based on several reports, it was believed that at that time, FTX Japan held 19.6 billion yen worth approximately $138 million.
At the beginning of November, the Financial Services Agency of Japan revealed that it had ordered FTX Japan to stop offering its services and comply with business improvement orders.
However, at the end of December, Liquid revealed that it plans to return customer funds in mid-February. At that time, the company noted that it hoped to allow customer withdrawals through Liquid Japan. It now appears that FTX Japan successfully carried out its plan, and customers can now withdraw their funds.
