Backpack completes the acquisition of FTX EU and starts the user funds return process today

PANews reported on April 1 that Backpack announced the official launch of the asset return program for former FTX EU users to help qualified users recover frozen fiat money. This marks the important progress of Backpack after completing the acquisition of FTX EU and the official start of fund allocation.

Eligible users can go to the Backpack EU platform to create an account and complete identity verification (KYC) from now on. The fund withdrawal function will be opened later, when users will receive withdrawal notifications. This return process is only for the fiat currency balance and unfinished withdrawal requests of FTX EU users. Cryptocurrency and NFT-related claims still need to be processed through the FTX International platform.

Backpack plans to implement the return process in an efficient and transparent manner, and restart the FTX EU's MiFID II license, and will provide a comprehensive EU-wide crypto derivatives service in the future.