PANews reported on April 1 that Backpack has officially launched an asset return plan for former FTX EU users to help eligible users recover their frozen fiat funds. This marks an important progress after Backpack completed the acquisition of FTX EU, and the fund allocation work has officially begun.
Eligible users can create an account on the Backpack EU platform and complete identity verification (KYC) from now on. The fund withdrawal function will be available later, and users will receive a withdrawal notification at that time. This refund process only applies to FTX EU users' fiat currency balances and unfinished withdrawal requests. Cryptocurrency and NFT-related claims still need to be processed through the FTX International platform.
Backpack plans to execute the return process in an efficient and transparent manner and restart FTX EU's MiFID II license, and will provide comprehensive crypto derivatives services across the EU in the future.
