That's good news because they're set to begin the payout distribution on February 18, 2025, according to the report.
FTX to begin payout distributions for small creditors on Feb. 18, large claims remain pendingFTX is set to begin distributing funds to small creditors on Feb. 18, marking a key development in the defunct crypto exchange’s bankruptcy process.
The Joint Official Liquidators (JOLs) of FTX Digital Markets Ltd. confirmed Tuesday that creditors with approved Convenience Class claims — valued at $50,000 or less — will receive full repayment along with post-petition interest of 9% per annum.
And, it's great news because it comes with interest too, since the payout is in fiat, those getting a refund won't be as disappointed. Especially when you consider how much Bitcoin has shot up compared to the time they lost their coins.
I mean the payout is actually very considerate, the interest added was a brilliant addition. I'm happy FTX users finally got their refund.
I wonder which exchange most of them did transfer their funds to since distribution started, I hope they didn't deposit to bybit only to get hacked again😹. I guess some will have deposited to Bit get as they seemed determined to steal former FTX users by creating exclusive events for them like the article mentioned, some maybe to Binance or DEX I guess