400,000 FTX Users at Risk of Losing $2.5 Billion in Repayments

Nearly 400,000 former FTX users risk losing access to over $2.5 billion in repayments if they don’t complete identity verification by June 1.

A recent US Bankruptcy Court filing in Delaware revealed that about 392,000 people missed the original March 3 deadline for the mandatory Know Your Customer (KYC) process. The court has extended this deadline, providing users one final opportunity to verify their identity.

The filing states that anyone who hasn’t started the KYC process by 11 a.m. UTC on June 1, 2025, will have their claims removed and disqualified.

These disallowed claims are detailed across 2,377 pages of court documents. Missing the new deadline means forfeiting the right to repayment, regardless of the amount owed. Claims under $50,000 could total around $655 million, while those over that amount might reach $1.9 billion, putting more than $2.5 billion at risk.