Backpack Facilitates Return of Funds to Former FTX EU Customers
Backpack has taken a significant step in the process of returning lost funds to former FTX EU customers by opening the withdrawal window for affected users across Europe. This move comes after Backpack acquired FTX’s European arm in January 2025.
According to an announcement on Backpack’s website, Trek Labs Europe LTD (Former FTX EU LTD) has initiated the payout of former FTX EU customer funds. Customers impacted by the FTX collapse can now begin the process of accessing their frozen euro balances through a dedicated portal on Backpack’s platform.
It is important to note that all claimable funds are denominated in euros, and crypto withdrawals are not supported in this process. The initiative follows Backpack’s earlier launch of an identity verification process in April, which was the first step in assisting former FTX EU users in regaining access to their frozen assets.
To access their frozen funds, FTX creditors must select the “FTX EU Withdrawal Request” on the exchange’s EU platform and complete a form with their bank details. They are also required to upload a bank statement dated within the past three months, clearly displaying their full name, IBAN, and registered address, matching the information on the request form.
Withdrawal fees will apply to the claims, with the fees determined by Backpack’s banking partners and varying based on the amount claimed. Transactions up to €2,000 incur a fee of €8, claims between €2,001 and €50,000 have a flat fee of €13, and withdrawals exceeding €50,001 are charged €13 plus 0.1% of the amount exceeding €50,001, capped at €353.
It is important to note that Backpack does not add any additional fees on top of those set by its banking partners. Additionally, users should be aware of possible delays in processing due to high traffic and banking limitations, especially during the initial stages of the claims process.
While there is no fixed deadline to file a claim, Backpack emphasizes that any unclaimed funds will eventually be subject to relevant financial laws. This process aims to provide former FTX EU customers with a streamlined and transparent way to access their frozen funds and begin the process of recovering their assets.
For more information and to begin the claims process, customers can visit Backpack’s website and follow the instructions provided to access their funds.