Cryptocurrency exchange FTX crashed by victimizing its users to mark 2022. Users have been struggling to recover their money since the crash. However, it remains unclear whether the affected FTX users will be able to get their money. Experts have put together a 6-step guide to filing a lawsuit against FTX and saving your money.
How can FTX users get their money?
Step 1: Fill in the request form
FTX users affected by the FTX collapse should file their claim with Kroll Restructuring Administration LLC, a bankruptcy trustee in the United States. Before executing the app, users need to read and understand the instructions. Thus, it will be easy for them to fill the PDF properly. For example, the US Bankruptcy Court in Delaware advises users not to submit original documents. Because they usually permanently destroy documents later. In addition, applicants are required to attach the following documents to their request. These documents are: mortgages, promissory notes, invoices, purchase orders, collateral agreements and court orders. These are screenshots or screenshots from the assets’ FTX profiles. Therefore, there is a blank application form in the “Proof of Claim Form” section.
Step 2: Do not provide any personal information
Make sure you do not include any personal information in your application. Such information includes personal data, TIN (tax identification number) and identity card. The document you fill out even warns against adding sensitive details. This is because uncorrected data is publicly accessible, allowing criminals to steal users’ identities.
Step 3: Request approval and claim losses on your tax return, including in bankruptcy proceedings
It is best to ask the bankruptcy manager to accept the attached documents and application. As a result, Kroll confirms that the person is part of the bankruptcy filing. More importantly, the approval helps to claim the financial loss before the relevant tax authority. In addition, all affected parties must openly consult with the tax authority or tax adviser about how the tax authority is handling the claim. It would also be advantageous to report the damage caused by fraud to local law enforcement and file a formal complaint.
Step 4: Add US postage and a well-labeled envelope
Only users with a well-labeled envelope with a US stamp will receive Kroll’s endorsement. Unfortunately these postage stamps are not easy to get. Because you cannot ask the US authorities or consulate to send them to you. Interestingly, you can find these stamps on Frankaturware.com etc. You have the opportunity to buy from platforms.
Step 5: Mail the documents to the bankruptcy manager
If you have all the required documents in your envelope and you have attached the relevant stamps, send the application via DHL Express to:
“FTX Trading Ltd. Request Processing Center
c/o Kroll Restructuring Administration LLC
850 3rd Street, Suite 412
Brooklyn, New York 11232″
Step 6: Submit your application quickly
According to reports, the bankruptcy administrator plans to allow users to send PDF documents digitally. However, it is useful to send it by mail. Meanwhile, the court has not set a deadline for submission of the application. According to the application document:
Once the court sets a deadline for submission of Evidence of Claim against debtors, all designated creditors will receive a notification of the deadline. They will also receive instructions on how to submit their claims.
However, it is very important to apply on time. So you don’t have to worry about the deadline. Meanwhile, two things remain unclear. The first is whether affected FTX users can get their money. Second, the amount they can take. Also, the payment date is not clear. It is possible to find solace in the Mt.Gox case, which you follow on Kriptokoin.com, which has been going on for many years. Currently, affected parties have until January 10 to apply for payment.
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