FTX Europe, the European subsidiary of FTX, has launched a website to allow its customers to submit withdrawal requests, nearly five months after the global crypto exchange went bankrupt.
The website, https://ftxeurope.eu/, was approved by the Cyprus Securities and Exchange Commission (CySEC), the regulator of FTX Europe, according to an email sent by the platform to its clients.
The website will only be used for FTX Europe clients to claim their fiat balances, and will not offer any other services or products, the email said. Customers will need to provide their FTX Europe account details and proof of identity to initiate the withdrawal process.
FTX Europe was launched in March 2022 to serve customers in the European Economic Area and the Middle East. However, it was short-lived as FTX Group, the parent company of FTX and its 130 affiliated entities, filed for bankruptcy in November 2022 following a series of regulatory actions and lawsuits.
CySEC had ordered FTX Europe to suspend its operations on Nov. 9, two days before the bankruptcy filing. FTX Europe was headquartered in Switzerland at the time.
FTX Europe is one of the few solvent subsidiaries of FTX Group that can pay back its customers. FTX Japan, another regional branch of FTX, had already allowed its customers to withdraw their funds in February, totaling about $50 million.
The launch of the withdrawal website is a relief for FTX Europe customers who have been waiting for months to access their money. However, it is unclear how many customers were affected by FTX Europe’s collapse, as the platform had only operated for eight months before shutting down.
FTX Group’s bankruptcy has been one of the biggest scandals in the crypto industry, affecting millions of customers and creditors worldwide. The exchange is facing multiple lawsuits and investigations from regulators and law enforcement agencies in various jurisdictions.