Cryptocurrency exchange Backpack has launched a claims process for former FTX EU customers, offering a potential path to recover frozen euro balances following the platform’s collapse. The move follows Backpack’s acquisition of FTX EU in January 2025 and aims to revive the platform under new leadership with the goal of returning user funds. Users must first complete Know Your Customer (KYC) verification through Backpack’s platform, ensuring their personal information matches their original FTX EU registration details. The company warns that discrepancies could lead to delays in accessing funds. Those facing challenges should contact Backpack support for manual record updates. Eligibility is based on a key date: March 7, 2022, with users who signed up after that date potentially eligible for claims through the Backpack platform. However, users who joined before this date may be subject to a separate claims process under FTX International’s umbrella. While Backpack operates the platform and infrastructure, the U.S.-based FTX estate continues disputing the ownership transfer of FTX EU. The legal challenge adds complexity to the process, but Backpack CEO Armani Ferrante emphasized that returning user funds is the company’s top priority, highlighting its potential for restoring trust in the wake of the FTX implosion. For many users in the EU, this claims process marks a crucial first step towards recovering lost funds.