FTX, the cryptocurrency exchange that faced turmoil last year, is on a mission to make amends with its users following a tumultuous period.
However, its efforts faced a setback in August when a cyberattack disrupted its operations, allowing hackers to access users’ funds. Now, with the threat neutralized and the worst behind them, FTX is gearing up to return online.
On Sunday, September 17, FTX announced the restoration of its Customer Claims portal, bolstered with enhanced security measures.
Previously, the platform’s claims agent, Kroll, fell victim to a security breach that exposed non-sensitive data. This breach, occurring on August 19th, was the result of a sim-swapping attack involving a Kroll employee, granting unauthorized access to files containing personal information about claimants in an ongoing legal case.
FTX has informed its users that they can now access their accounts and initiate the claims process for the cryptocurrency assets they held on the exchange before the bankruptcy filing in November 2022.
The claims portal is currently available to customers with FTX, FTX US, Blockfolio, FTX EU, and FTX Japan accounts. Reports suggest that more than 36,000 customer claims totaling $16 billion have been filed against FTX and FTX US, with only 10% approved thus far.
FTX’s collapse had a profound and lasting impact on the cryptocurrency landscape. Its aftershocks continue to affect the industry as regulators in the United States implement stricter measures against crypto platforms.
Reactivating the claims portal is a significant step toward helping users recover their funds and alleviating the tensions caused by the exchange’s troubles.