The Bankrupt CryptoCurrency Exchange FTX faces fresh investigation from users who fight at least $ 2.2 billion worth of disputed claims that still pending approval, with many creditors constantly struggling to approve their payments.
FTX Recovery Trust initiates the second cycle of payments on May 30, paying $ 5 billion worth of digital properties to eligible creditors who have completed pre-distribution requirements.
However, at least $ 2.25 billion worth of payment remains a misunderstanding, according to estimates shared by Sunil, FTX Creditor and Customer’s Ad-HOC Committee member.
“Currently allowed claims: $ 7.5bn. Total estimated pursuit of claims: $ 10.6bn. 30% of allowable claims are disputed -legitimate claims will be allowed,” Sunil wrote on a June 11 x x Post.
The FTX estate holds an additional $ 6.5 billion worth of reserves for disputed claims, which is likely to be paid to the next distribution, Sunil told Cointelegraph, addition:
“I find most disputed (claims) allowed for the next distribution.”
“However, there are many uncertainty about Chinese claims, which make up 8% of losses’ claims,” Sunil said, adding that it is difficult to predict a timeline for these payments until a distribution provider supporting China has been announced.
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The cointelegraph reached the FTX for comment on the timing of the next repayment of payment and clarification on the remaining claims.
The FTX Creditor Payment First Payment The $ 1.2 billion was seen distributed to recipients with claims of less than $ 50,000 in Feb. 18.
The news came one day after the FTX cooperated with a third payment service provider. On Tuesday, FTX added Payoneer as the third partner in its distribution next to BitGo and Kraken. Payoeer provides cross-border payment services in more than 190 countries and is expected to help especially customer payouts.
Related: Nearly 400,000 FTX users risk losing $ 2.5 billion in payment
FTX Creditors are struggling with KYC verification
Multiple FTX creditors report issues when completing their customer verification process (KYC) for payments.
“Any information in the Bahamas KYC Pending? No response in 5 months,” write X uses Big Penger, in a June 11 response.
“I have been asked a lot of evidence of my resource income. I feel like I’m on the test and I don’t really understand why they are so interogative,” Says FTX Creditor Sal won, adding that his claim was less than $ 5,000.
Some crypto investors think that the entire incidence of FTX payments can bring a significant emotion and boost of liquidity, which can provide more reversal for the cryptocurrency market.
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