Nassau, Bahamas – February 2025 – The Joint Official Liquidators (JOLs) of FTX Digital Markets Ltd. have announced the commencement of final repayments to creditors under the Convenience Class claims. This marks the last stage of the liquidation process, ensuring claimants receive their entitled funds.
According to the official notice, creditors who have completed all necessary steps will receive a one-time, full distribution of their adjudicated claim value, capped at $50,000. Additionally, claimants will be awarded post-petition interest of 9.0% per annum, calculated from November 11, 2022, through the initial distribution date.
Final Payment Instructions and Deadlines
The distribution will be facilitated via BitGo, a digital asset custody platform. Creditors are required to verify their BitGo account details through the FTX Digital Claim Portal. If multiple Enterprise IDs exist under an account, funds will be deposited based on the ID listed in the email communication.
Payments may appear as pending transactions in BitGo accounts up to ten days before the official payment date. However, claimants will only be able to withdraw or transact their funds starting February 18, 2025, from 10:00 AM ET onwards.
To prevent any payment issues, creditors must review their payment details in the FTX Digital Claim Portal and report necessary changes to the designated email address (gbl_fdm_payment_instructions@pwc.com) by February 6, 2025, at 12:00 PM GMT. Once processed, payments cannot be reversed.
Security Warnings and Scam Prevention
The JOLs have also warned creditors against phishing attempts and fraudulent emails. They emphasized that no personal banking details should be shared over email. Claimants should only interact with official channels, such as the FTX Digital Claim Portal (https://digitalmarketsclaim.pwc.com/), and verify email addresses via the PwC website.
Closure of Claims Against FTX Digital
This final distribution signifies the completion of claims against FTX Digital Markets Ltd. Once payments are made, creditors’ claims will be considered settled and extinguished.
The JOLs expressed appreciation for creditors’ patience throughout the liquidation process, which has aimed to ensure fair repayment following the collapse of FTX. The finalization of this phase represents a significant step in resolving the financial turmoil surrounding the now-defunct cryptocurrency exchange.
