FTX EU Victims Can Now Access Locked Euros Through Backpack, While Crypto Withdrawals Are Still Unavailable.

Backpack has started allowing former FTX EU customers to withdraw their funds, a significant step in the recovery of assets for users affected by the now-defunct exchange across Europe.

The claims process was initiated on May 12, following Backpack’s acquisition of FTX’s European division earlier in January 2025.

The exchange issued a statement on its website, announcing:

“Trek Labs Europe LTD (Former FTX EU LTD) has officially begun disbursing funds to former customers of FTX EU.”

Backpack detailed that individuals impacted by the FTX failure can now follow a two-step procedure to retrieve their frozen euro balances via a specific portal.

Additionally, all funds available for withdrawal are exclusively in euros, and the platform does not facilitate cryptocurrency withdrawals.

This move comes after the launch of an identity verification process in April, which was the initial step in assisting former FTX EU clients in accessing their frozen assets.

Steps for Recovering FTX EU Customer Funds

Creditors from FTX need to choose the “FTX EU Withdrawal Request” option on the exchange’s European platform to access their frozen assets.

They must complete a form providing their banking details and submit a bank statement from the past three months. This statement should clearly display their full name, IBAN, and registered address, which must correspond with the information provided in the request form.

The exchange noted that there will be withdrawal fees associated with these claims. These fees are determined by its banking partners and vary according to the claimed amount.

For withdrawals up to €2,000, the fee is €8. Claims ranging from €2,001 to €50,000 will incur a flat charge of €13. For larger transactions, the fee is €13 plus 0.1% on any amount exceeding €50,001, with a maximum fee limit of €353.

Backpack clarified that it does not impose additional fees beyond those established by its banking partners.

The exchange also cautioned users about potential delays due to heavy traffic and banking restrictions, particularly in the initial stages of the process.

Backpack indicated that there is no set deadline for filing a claim; however, unclaimed funds will eventually be governed by relevant financial regulations.