FTX’s payment plan is now effective — When will users see their funds?
According to the plan, certain FTX users claiming less than $50,000 could expect to see their funds returned within 60 days.
The reorganization plan for defunct cryptocurrency exchange FTX, still going through bankruptcy proceedings, took effect on Jan. 3 and will allow users to begin receiving repayments.
In a Jan. 3 X post, FTX debtors said users requesting funds should be wary of phishing emails designed to look like they were sent from the exchange.
Customers need to have filed a claim through the official website to be eligible to receive reimbursement, which FTX said should happen within 60 days for the first group.
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Author: Turner Wright
