by: xpoolPosted on:

FTX Dismantles Over $2.5 Billion in Claims Due to KYC Noncompliance

FTX has disqualified nearly 400,000 customer claims worth over $2.5 billion due to failure to verify identities through the Know-Your-Customer (KYC) process. The exchange’s action affects creditors with unverified accounts who missed the March 3rd deadline. Verified users can expect payouts starting May 30th totaling $11.4 billion in recovered funds.

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