FTX EU Users Finally Unshackled—But Only for Fiat, Crypto Still Locked

After months of regulatory limbo, FTX’s European victims can now reclaim their trapped Euros via Backpack—a rare win in the exchange’s messy collapse. Too bad crypto holders are still left holding the bag.

Fiat withdrawals go live as regulators force partial concessions. Meanwhile, digital assets gather dust—because when has crypto ever gotten the same respect as government-issued monopoly money?

The bittersweet update highlights the fractured priorities of post-mortem crypto bailouts: protect the legacy system first, let blockchain burn.

How Backpack is returning FTX EU customer funds

FTX creditors must select the “FTX EU Withdrawal Request” on the exchange’s EU platform to access their frozen funds.

They’ll then have to complete a FORM with their bank details and upload a bank statement dated within the past three months. This statement must clearly show their full name, IBAN, and registered address—all of which must match the information on the request form.

The exchange stated that withdrawal fees will apply to the claims. According to the firm, the fees are set by its banking partners and vary depending on the amount claimed.

For transactions up to €2,000, the charge is €8. Claims between €2,001 and €50,000 incur a flat fee of €13. For larger withdrawals, the platform charges €13 plus 0.1% of any amount exceeding €50,001, with the total fee capped at €353.

Backpack emphasized that it does not add any extra fees on top of those set by its banking partners.

The exchange also warned of possible delays due to high traffic and banking limits, especially during the early days of processing.

Backpack pointed out that while there is no fixed deadline to file a claim, any unclaimed funds will eventually be treated under relevant financial laws.