Japan-based subsidiary of cryptocurrency exchange FTX, which went bankrupt last November FTX Japan announced that it will continue to withdraw funds.
#FTX According to the statement made by Japan, customers (FTX Japan customers) will be able to withdraw their assets from February 21.
— Bitcoin System (@bitcoinsystem) February 20, 2023
Company officials stated in their statement that they will use a subsidiary platform called Liquid Japan for withdrawals. FTX acquired Liquid last year.
Japanese customers who have money on the exchange are required to confirm their balance. FTX spokespersons added that customers who want to get their money back must open an account on Liquid.
The Japanese establishment of the sunken crypto exchange contacted all its users whose money remained inside. The company provided the necessary information to the customers about the withdrawal procedure.
Withdrawals on the FTX Japan exchange are expected to resume on Liquid tomorrow. Finally, the authorities emphasized that there may be possible delays due to the intensity of the transaction.
FTX Japan paused withdrawals after its parent exchange went bankrupt in November 2022, along with Alamenda Research. Although there was pressure to completely shut down the platform, FTX Japan officials managed to extend the process until March 2023.
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