FTX EU, the bankrupt crypto exchange FTX's Switzerland-headquartered European arm, has launched a new website for European customers to withdraw their funds.
The website's domain name was approved by the Cyprus Securities and Exchange Commission (CySEC).
- The website will only allow European customers to withdraw their fiat balances and not offer any other product or service.
- FTX EU started the operation in March 2022, nearly seven months before FTX's bankruptcy.
- The platform was offering FTX services to European customers and only registered with CySEC.
- The number of European users impacted by the collapse has yet to be disclosed.
- The collapsed exchange's Japanese arm, FTX Japan, also resumed withdrawals for fiat and crypto assets in February.
- FTX, previously the third-largest crypto exchange, filed for Chapter 11 bankruptcy in November 2022, with all the entities under the roof of FTX Group comprising around 130 firms.
- The downfall followed the claims that former CEO Sam Bankman-Fried (SBF) used customer funds in FTX to compensate for losses at FTX's sister company Alameda Research.
