FTX EU LTD, formerly known as K-DNA Financial Services LTD, announced that it has begun the process of allowing its customers to claim their final balances and withdraw their fiat currency funds from their segregated client accounts.
This comes after parent company FTX Trading LTD filed for bankruptcy protection in the US last November after a series of legal and regulatory issues.
FTX Europe Customers Can Claim Their Assets
According to the press release, customers of FTX EU LTD who open their accounts on FTX.com/eu (after 7 March 2022) will be able to submit their requests via a dedicated website: ftxeurope.eu
Withdrawals will be subject to traditional KYC and anti-money laundering (AML) controls and may be delayed if bank or other account information is not adequately verified.
The press release stated that this announcement is not related to customers of other FTX group businesses, even if they are based in Europe.
FTX EU LTD is recognized by the Southern Cyprus Securities and Exchange Commission (CySEC) as a Cyprus-based investment firm licensed under license number 273/15.
The company was acquired by FTX Trading LTD in March 2022 and rebranded as FTX EU LTD.
Cryptocurrency exchange FTX and its subsidiaries filed for Chapter 11 bankruptcy protection on November 15, 2022, in the US Bankruptcy Court for the District of Delaware, with over $10 billion in liabilities and less than $50 million in assets. The filing for bankruptcy comes after FTX faced multiple lawsuits, regulatory actions and hacking attacks that resulted in significant losses for the company and its customers.
*Not investment advice.
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