FTX EU Users Can Now Withdraw Euros via Backpack Amid Legal Dispute

• Backpack now allows FTX EU users to withdraw frozen euro balances after KYC verification.
• Only users who signed up on FTX EU after March 7, 2022, are eligible.

Backpack has launched withdrawals for former FTX EU customers, allowing them to reclaim frozen euro balances. However, crypto withdrawals remain unavailable. The move marks a significant step in returning trapped funds following 2022 collapse.

The claims process officially began on May 12, months after Backpack acquired FTX EU in January 2025. According to the platform, only euro-denominated balances can be withdrawn. Users must complete Know Your Customer (KYC) verification and follow a two-step claims process through a dedicated Backpack EU portal.

To file a claim, users must select “FTX EU Withdrawal Request” on the Backpack EU site. They must also upload a recent bank statement showing their name, IBAN, and address. These details must match their FTX EU account records. Backpack warns that incorrect details will delay verification. Users can contact support to update account information if needed.

FTX EU Withdrawals: Fees, Eligibility, and Dispute

Withdrawal fees apply and vary by amount. For claims up to €2,000, the fee is €8. For amounts between €2,001 and €50,000, the fee is €13. Larger claims incur €13 plus 0.1% on amounts above €50,001. The maximum fee is capped at €353. Backpack clarified that it does not charge any additional fees beyond those set by banking partners.

The exchange warned of processing delays due to high traffic and banking limits. However, there is no official deadline for filing claims. Backpack emphasized that any unclaimed funds may later fall under applicable financial laws.

Not all EU-based users qualify. Only those who signed up on FTX EU after March 7, 2022, are eligible. Users must check their original terms of service to confirm eligibility. Backpack began KYC onboarding in April as a preliminary step toward withdrawals.

Despite facilitating withdrawals, Backpack’s acquisition of FTX EU faces legal challenges. The FTX estate claims that FTX EU shares remain under FTX Europe AG’s control. It disputes the legitimacy of the share transfer to co-founders Patrick Gruhn and Robin Matzke.

Highlighted Crypto News Today
Crypto.com Secures Restricted Dealer Registration in Canada