FTX claims: verifying loss amounts ahead of claims filing on 6 February 2023


FTX claims: verifying loss amounts ahead of claims filing on 6 February 2023

After FTX International and FTX US halted withdrawals in November 2022, the respective websites were taken offline within one week due to security issues. Unfortunately, this also meant that those with custodial accounts could not download their account statements or transaction history.

With FTX International and FTX US claims filing approaching in February, I wanted to provide those members who held active FTX cover but who were unable to download their proof of loss documents with a way to verify their account holdings.

Contact Kroll Restructuring Administration LLC to verify account, loss amount

Members who did not previously download their account statements or take screenshots of their account balance can contact Kroll Restructuring Administration LLC through their Contact Us page. This company is managing the FTX Trading Ltd. case. When you access the FTX website, you are redirected to their page.

In your request, you should ask for:

  1. Confirmation that you had an account with either FTX International or FTX US; and
  2. A record of the value of the assets (or what assets were) held in your account when withdrawals were halted.

It’s recommended that you contract Kroll as soon as possible if you were affected but do not have any proof of loss documentation.

The Wassie Lawyer Twitter account has a website where they have listed out a FAQ page for those affected by the FTX bankruptcy. On this site, Wassie Lawyer provides some insight for the following questions:

FTX wiped my records and I didn’t save them — is it over?
Very unlikely — the records are likely still somewhere. It may be worth getting in touch with Kroll to clarify but given the volume of emails, expect a delay in their response. Or I guess if everyone spams them they will put out a statement.
It may be annoying from a records perspective but a bank doesn’t just magically get out of owing you money by deleting the amount it owes you on its records.
My withdrawal was ‘processing’ and so it left my account — is it over?
No, I would think it actually shows you have quite a clear debt claim against FTX since you withdrew your money and they failed to pay it out. Annoying from a records perspective but I’d be shocked if they can’t be found or recreated.

As a reminder, FTX claims filing can begin on the following dates:

  • FTX International starting on Monday, 6 February 2023 at at 10:54pm UTC
  • FTX US starting on Thursday, 9 February 2023 at 5:00pm UTC

If you have any questions about proof of loss or your request to Kroll, you can head to the Nexus Mutual Discord server and post in the FTX claims: how to verify loss amounts if you didn’t download records before FTX websites went down post within the DAO forums channel.