Nearly 400,000 FTX users risk losing $2.5 billion in repayments

Nearly 400,000 FTX users risk losing $2.5 billion in crypto repayments unless they complete KYC verification before the extended June 1 deadline.

Nearly 400,000 creditors of the bankrupt cryptocurrency exchange FTX risk missing out on $2.5 billion in repayments after failing to begin the mandatory Know Your Customer (KYC) verification process.

Roughly 392,000 FTX creditors have failed to complete or at least take the first steps of the mandatory Know Your Customer verification, according to an April 2 court filing in the US Bankruptcy Court for the District of Delaware.

FTX users originally had until March 3 to begin the verification process to collect their claims.

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