Collapsed exchange FTX has confirmed it will distribute $1.6 billion to creditors, marking one of the largest repayment rounds since the firm entered bankruptcy.
Payments will begin September 30, with funds expected to arrive in one to three business days depending on the provider used.
How the Payouts Break Down
According to creditor representative Sunil, the distribution is structured differently for small and large claimants. Those owed less than $50,000 will see the biggest benefit, recovering about 120% of their claims plus additional compensation.
Larger creditors, with balances over $50,000, will ultimately receive 78.2% of their total claims — up from the 5.7% partial payment distributed earlier this year.
For U.S. customers, payouts will average closer to 40%. Across all user groups, the blended recovery rate works out to roughly 95%, though the latest package came in $300 million short of projections made in July.
Warnings and Next Steps
FTX cautioned users to remain vigilant against phishing attempts and fake client portals, urging them to only use official distribution channels when accessing payouts.
The latest round of repayments represents a milestone in one of the most complex bankruptcies in crypto history, offering many victims a level of recovery that few anticipated when the exchange collapsed in late 2022.
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Source: https://coindoo.com/ftx-creditors-set-to-recover-up-to-120-of-claims/