FAQs (English)

About

What should I know at a glance?

Backpack Exchange has acquired FTX EU, a former European platform of FTX. With the acquisition, Backpack’s new EU arm plans to reactivate FTX EU’s license to offer a full suite of crypto derivatives throughout the EU.

As part of the acquisition, Backpack EU will distribute funds back to eligible FTX EU customers.

If you are a former user of the FTX trading platform and you reside in the European Union, you may have been a customer of either FTX EU or FTX International, depending on when and how you signed up to become a client and what types of assets you held on FTX. As a reminder, Backpack has no involvement in the FTX estate’s U.S. bankruptcy proceedings.

What is Backpack Exchange?

Backpack Exchange is a regulated global cryptocurrency exchange building a compliant and innovative, easy-to-use trading platform. Our mission is to empower traders with advanced tools, a seamless trading experience, and flexible risk management options—all within a unified trading account framework. To learn more about our platform and vision, visit Backpack Exchange - About. Backpack Exchange is part of the Backpack ecosystem, together with certain partners including the Backpack Wallet (the self-custodial crypto wallet integrated within the Backpack Exchange), and Mad Lads, the leading NFT project on Solana.

What are the official Backpack support channels?

Answers to commonly asked questions: please continue through the FAQ page below before reaching out.

For specific questions pertaining to your claims or assistance regarding your exchange account, reach out directly:

Email support: [e-mail]

Important Note:

Official emails related to your FTX EU claim or Backpack EU updates will only come from the following addresses:

• [e-mail]

• [e-mail]

• [e-mail]

• [e-mail]

If you received an email from [e-mail], please note that this is a legitimate Backpack EU address used to inform FTX EU clients of the steps to follow. However, replies to this email are not monitored — for any questions, please contact [e-mail].

Always be cautious of phishing attempts and verify the sender before taking action on any email.

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How to Claim

How will I receive my distribution?

You will not be able to claim your distribution immediately upon signing up. The process for receiving your FTX EU distribution will occur in two distinct steps. Here’s how it works:

Step 1: KYC (currently live)

• Sign up for an account on Backpack EU at https://eu.backpack.exchange/claim.

• Complete KYC verification to confirm your identity using the same details associated with your FTX EU claim.

• If your identity is successfully verified, your final EUR claim balance will be displayed to you.

• We strongly recommend completing this step now to avoid delays when distributions become available.

Step 2: Funds distribution (coming later)

• Once distributions are live, you will receive another email notification.

• At that time, you’ll be able to access and withdraw your balance.

The Backpack team is working hard to distribute FTX EU claims as quickly as possible in coordination with all relevant parties. Until then, distributions will only become available after Step 2 is complete. We strongly encourage you to complete Step 1 (your Backpack EU KYC) now to ensure a seamless process and timely access to your funds.

I already verified my identity at FTX EU, do I need to do it with Backpack?

Yes. Distributions in respect of claims you may have against FTX EU will be made by Backpack EU, and claimants will have to open an account and verify their identities on the platform.

Can I prepare for my distribution in advance?

Yes. We encourage you to complete Step 1 (create your Backpack EU account and complete KYC) as soon as possible, even though distributions have not yet gone live.

Doing so will:

• Ensure your identity is verified well in advance.

• Help resolve any KYC or account issues early on.

Simply visit https://eu.backpack.exchange/claim to create an account and follow the prompts to verify your identity.

I have not claimed my balance through ftxeurope.eu. Can I claim it and how?

Please follow the steps described in How will I receive my distribution? Where available, you may be able to see your final settled balance even if you have not claimed your balance through ftxeurope.eu.

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Troubleshooting

Can I access Backpack EU via my mobile?

No. For now you can visit https://eu.backpack.exchange/claim via your desktop web browser to get started.

What if I already have an account on Backpack.Exchange?

You will still need to create a separate account on https://eu.backpack.exchange/claim and complete KYC in order to receive your FTX EU claim. If you have any issues, reach out to our support team at [e-mail] for assistance.

Does my FTX EU account email have to match my Backpack EU account?

Yes, when creating an account on Backpack EU, you must use the same email as the one associated with your FTX EU claim.

What if I no longer have access to the email address I used for my FTX EU claim?

Contact Backpack EU support at [e-mail] to update your account details by providing a signed letter stating your previous email, your new email, and your KYC details and ensure you can complete the account opening and verification onboarding and account linking.

What if my FTX EU KYC details don’t match my new Backpack EU account?

Your KYC details on FTX EU and Backpack EU must match for verification. If they do not, you will need to contact Backpack EU support at [e-mail] to update your Backpack EU account to reflect the same information used for your FTX EU claim. This ensures a smooth verification process and avoids delays in accessing your distribution.

Why is my email not recognized on the signup page?

If your email is not being recognized, this could be because:

• You had previously changed your original FTX EU Ltd. email.

• Your balance is zero and there are no further actions requested from you.

• You were not an FTX EU client.

Please contact us at [e-mail] if you encounter any difficulties.

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General Questions

Will there be fees for withdrawing my distribution?

Fees will be displayed to you during the withdrawal process. Our banking partners charge withdrawal fees of 5 EUR for all withdrawals under 2,000 EUR and 0.25% for all withdrawals above 2,000 EUR. Backpack EU does not charge any additional withdrawal fees.

Will I receive documentation for tax purposes?

We are not responsible for your tax declarations or withholding any tax, but are happy to provide any documents that you reasonably request to accommodate your tax obligations. Please consult a tax professional for advice on reporting your distribution in your jurisdiction.

Can I claim my distribution in crypto instead of EUR?

All claim amounts are denominated and claimable only in EUR. However, Backpack EU is aiming to become MiCA compliant by obtaining a MiCA License. This will allow us to launch spot trading and facilitate crypto withdrawals through Backpack EU. Please stay tuned for more updates on this.

Note: If you were an FTX EU customer and believe you had pending withdrawals of cryptocurrency from your FTX EU account on November 11, 2022, then you should have filed a claim in FTX’s US bankruptcy proceedings, and you may be eligible to receive distributions from the FTX Recovery Trust pursuant to the U.S. bankruptcy court-approved plan of reorganization. Backpack has no involvement in the FTX estate’s U.S. bankruptcy proceedings.

What happens if I sold my FTX EU claim to another party?

We will only return funds to the person whose name is officially on the FTX EU claim, as reflected in FTX EU records. Backpack EU is not involved in or responsible for any claims that have been sold or transferred to third parties. If you sold your claim, we encourage you to notify the buyer to handle the matter directly with them. The distribution process will proceed solely based on the original claim details as recorded with FTX EU.

I was not a FTX EU user, can I create an account at Backpack EU now?

No. Backpack Exchange is not yet live for EU residents, and you will not be able to deposit funds or trade. Our team is working hard for Backpack EU to go live as soon as possible. Further information will be announced as it becomes available via the Backpack’s official channels. Please stay tuned.

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Distribution amount

How much will I receive?

All open positions were closed at their EUR value at the time of the FTX platform shut down, using the prices at the time of shut down. You will therefore receive the equivalent value of your closed positions at the time of shut down.

What should I do if I disagree with my distribution of funds?

If you believe your distribution is incorrect:

• Note that all amounts have been determined based on FTX EU’s Terms of Service to which you have consented to during your account registration process with FTX EU and the customer balance confirmation process.

• Each position was settled in EUR. The value reflects the EUR-value of your account at the time of system shut down. Backpack EU has no authority to adjust the distribution amounts.

Note: If you were an FTX EU customer and believe you had pending withdrawals of cryptocurrency from your FTX EU account on November 11, 2022, then you should have filed a claim in FTX’s US bankruptcy proceedings, and you may be eligible to receive distributions from the FTX Recovery Trust pursuant to the U.S. bankruptcy court- approved plan of reorganization. Backpack has no involvement in the FTX estate’s U.S. bankruptcy proceedings.

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Deadlines

When will I receive my distribution?

We are working hard in coordination with all relevant parties to begin distributions as soon as possible. Clients will be notified via email when the distributions are ready to be made.

Is there a deadline to create my Backpack EU account and claim my funds?

Unclaimed funds will be handled in accordance with applicable laws. To avoid complications, we recommend creating your Backpack EU account and claiming your distribution as soon as it becomes available.

What should I do if my balance is not displayed in my Backpack account?

Ensure you have completed the KYC process on Backpack EU using the same identity as your FTX EU account information. If you have completed KYC verification and do not see your claim balance, contact Backpack support at [e-mail] for assistance.

What happens if I don’t claim my distribution?

There is no specific deadline to claim your funds, but unclaimed funds will eventually be handled in accordance with applicable laws.

What if I didn’t submit a claim during the bankruptcy process?

We are unable to advise you on bankruptcy-related claim matters. Please direct any questions towards the FTX bankruptcy estate here: https://restructuring.ra.kroll.com/ftx/EPOC-Index

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FTX EU vs. FTX International Claims

I am confused about whether I am an FTX EU or FTX International customer, and which entity should handle my claim. How do I figure this out, and what if I have both crypto and Euro balances?

EU residents who signed up to FTX prior to March 7, 2022, are NOT FTX EU customers and should make their claim with FTX International unless such users subsequently opened an account with FTX EU Ltd.

Generally, EU-based users who signed up to FTX on or after March 7, 2022, are FTX EU customers, in which case they should make their claim with FTX EU.

However, certain EU-based users signed up to FTX International even after March 7, 2022. Please check your Terms of Service to confirm which former FTX platform you signed up to.

Important Note: Even if you are a FTX EU customer, you may also have claims against FTX International based on the type of assets that you hold. Specifically:

• Pending Crypto Withdrawals / NFTs → These remain a claim against FTX International, so you may be able to receive a distribution, see claims.ftx.com.

• Fiat balances / Pending Fiat Withdrawals / Closed Derivatives (settled in EUR) → These remain a claim against FTX EU Ltd., so use the claims portal at https://eu.backpack.exchange/claim

If you have both pending Crypto/NFTs and other claims you will need to use both claims portals:

• Pending Crypto/NFT → FTX International (claims.ftx.com)

• Backpack EU → https://eu.backpack.exchange/claim

Backpack EU is solely responsible for returning fiat balances held at FTX EU Ltd. Backpack is working with all relevant parties to process refunds as soon as possible.

I am a customer of FTX EU Ltd. and I have pending cryptocurrency withdrawals, can I claim them through Backpack?

If you were an FTX EU customer and believe you had pending withdrawals of cryptocurrency from your FTX EU account on November 11, 2022, then you should have filed a claim in FTX’s US bankruptcy proceedings, and you may be eligible to receive distributions from the FTX Recovery Trust pursuant to the U.S. bankruptcy court-approved plan of reorganization. Backpack has no involvement in the FTX estate’s U.S. bankruptcy proceedings.

Backpack will be handling the distributions related to fiat account balances and fiat pending withdrawals only.

I am a customer of FTX EU. and have also filed a claim on claims.ftx.com, why is Backpack not listed as an option to receive distributions from FTX EU Ltd.?

Backpack is solely responsible for the refund of any balance in the customers’ accounts which constitutes any fiat balance including any pending fiat withdrawals.

FTX estate is not responsible for any distributions in respect of FTX EU customers’ account fiat balances, or pending fiat balances.

If you have filed a claim through www.ftxeurope.eu which included pending crypto withdrawals, NFTs or funds held at other FTX group entities such as FTX Trading Ltd., FTX Digital Markets Ltd., etc., these were not included in your final balance settlement amount. Please take appropriate steps to claim such amounts through the FTX estate.

I am a customer of FTX EU Ltd. Why was I asked to complete a claim on claims.ftx.com?

Please check if your claim includes pending crypto withdrawals, NFTs or funds held at other FTX group entities such as FTX Trading Ltd. or FTX Digital Markets Ltd.

Pending crypto withdrawals, NFTs, and balances held at other entities are managed by the FTX estate, must be claimed at ftx.claims.com.

Backpack is only responsible for returning account fiat balances and pending fiat withdrawals held at FTX EU Ltd.

I already completed a claim on claims.ftx.com? Do I have to complete another one at Backpack EU?

Yes. Backpack EU is not responsible for any claim procedures of the FTX Estate. Backpack is only responsible for returning account Fiat balances and pending fiat withdrawals held at FTX EU Ltd.If your claim includes account balances and pending fiat withdrawals on FTX EU Ltd., your customer claim is and has always been with FTX EU Ltd., and the distribution provider will be Backpack. To proceed with the claim please visit: https://eu.backpack.exchange/claim