FTX EU Customers Can Now Withdraw EUR via Backpack

Backpack EU is now supporting the claims process for former FTX EU customers to withdraw their EUR balances through a simple two-step process:

How to Withdraw Your Funds:

1. Get Verified
2. Withdraw Funds

Start the process by registering for an account on Backpack EU

Please note: We expect high demand during the initial rollout. As a result, there may be delays due to bank processing times and withdrawal limits.

For full details and FAQs, visit: FTX EU Claims

Backpack remains committed to providing a smooth and secure experience for all users reclaiming their funds.

FAQ

What is Backpack’s role in the FTX EU claims process?

‍Backpack acquired FTX EU’s European arm and now handles fiat distributions for former FTX EU customers. It's responsible for returning account fiat balances and pending fiat withdrawals held at FTX EU.

How do I claim my FTX EU funds via Backpack?

1. Sign up on the Backpack EU claims portal (eu.backpack.exchange/claim). 
2. Complete KYC  the identity details must match your FTX EU KYC. 
3. Once verified, your finalized EUR claim balance is displayed. 
4. Submit a withdrawal request (IBAN + bank statement). 
5. Wait for distribution  processing may take weeks due to volume.

Do I need to do new KYC even if I already had it with FTX EU?

‍Yes. Even if your KYC was done at FTX EU, you must verify via Backpack EU with the same information. 

Must my Backpack EU account use the same email as FTX EU?

‍Yes, the email used in your FTX EU claim must match the email you register with Backpack EU.
If you no longer have access to that email, contact support with proof and KYC to request a change. 

What is the fee structure for withdrawals?

‍Backpack doesn’t add extra fees. Withdrawal fees are charged by banking partners. The published structure is:
• ≤ €2,000 → €8
• €2,001 to €50,000 → €13
• Above €50,000 → €13 + 0.1% of the excess (capped) 

Will I receive crypto or EUR for my claim?

‍Only EUR. Claims are settled in euros, not crypto.
If you had pending crypto or NFTs, those remain part of FTX International claims handled separately. 

How is my distribution amount calculated?

‍All open FTX EU positions were closed and converted to EUR at the time of the platform shutdown. Your payout reflects that final EUR value.
Backpack has no discretion to modify those calculations. 

What if I disagree with the amount shown?

‍You cannot contest the amount via Backpack  it relies on FTX EU’s original account balances and terms of service. 

When will I receive my funds?

‍There’s no fixed date. Distributions may take over a month due to volume and banking partner processing. 

Is there a deadline to claim?

‍No explicit deadline is listed. Unclaimed funds will follow legal procedures as per applicable laws. 

What if my claim isn’t displayed after KYC?

‍Ensure your identity was correctly verified and matches FTX EU’s records. If you still don’t see your claim, contact Backpack support. 

‍Can I use mobile to process my claim?

‍No. The Backpack EU claims portal is only accessible via desktop browser currently. 

What about the ownership dispute between Backpack and FTX?

‍FTX has publicly stated that the transfer of FTX EU shares to Backpack is not yet fully recognized by the U.S. bankruptcy court. Backpack claims CySEC approval for the acquisition. Backpack asserts its acquisition is valid and it now holds the obligations toward FTX EU claimants. 

What if I had both FTX EU and FTX International exposures?

‍You’ll need to claim separately:
• Backpack EU handles FTX EU (fiat, closed derivatives)
• Crypto, NFTs, or assets in FTX International fall under the FTX estate claims process via claims.ftx.com 

What if I never filed a claim with FTX EU before?

‍You may still see a balance in Backpack once it’s live. The system may allow claiming even without prior filing.
For more answers visit Backpack EU page or reach out to support@eu.backpack.exchange.