Yes yes... I know that I'm crazily behind on this... but for quite a while, I just couldn't be bothered with following the mass of bankruptcy emails and news... especially as our space is so littered with scams and fakes that it was pretty hard to tell if the emails that I was getting was anywhere close to being the real thing... or if I was going to get scammed out of even more money!

And the motivation for doing the claim was pretty low anyway... I think that I had at most about 5000 USD in FTX at the time that it went down... it stung, but I had gotten used to the idea that it was written off for good. And the risk of being scammed was real...

... but now that we are a couple of years into the bankruptcy proceedings, and with payments being made in the coming year (2025)... I figured that it was worth going back to FTX and figuring out how to do a bankruptcy claim. Of course, I've never had to do anything like this before, so it was handy that there was a pretty logical and easy flow that was set up to do it.

You did need to log in with your old FTX credentials, including your 2FA if you had had that set up. Then a simple email confirmation (that needs to be done every time you log onto the claims portal...). Then an annoying KYC thing... proof of identity and address. All automated, and for some reason the home internet bill wasn't being taken as proof of address despite saying that it should be fine. Sigh, so a utility bill it was...

And then I could see the value of my claim... 250 USD. Ouch... Now, this was the other part of me not bothering earlier with the bankruptcy claim. The liquidators were paying out the USD value of your holdings when FTX filed for bankruptcy... which as we all remember was post-CRASH!!!!!

Now, this has been quite a controversy... as most people wanted to be paid back in the tokens/coins that they had on exchange... and you are able to able to view your balances so that you know what was on there at the time of the crash and the lockout. But no, we are being paid back in USD value instead.... but that doesn't stop the PR machine claiming that creditors are being paid out 118% MORE than the value of their claims.

It is pretty galling... even if it is "technically" true... but the spirit is completely askew... and one wonders where the "profit" goes.

Anyway 250 USD is slightly better than nothing... and so after doing the prefill and automated filing of the US Tax form... well, then it is time to link the preferred distribution provider (Kraken for me...)... and then just hang around and wait for the distribution to occur sometime in the next year. Wow... the whole process made it quite clear how poor the CEX model and the centralised rule system for bankruptcies is... honestly, they could have just dumped out the tokens directly as a sort of withdrawal into the distribution provider addresses. Sigh....

Handy Crypto Tools

Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Coinbase Wallet: Multi chain wallet with lots of opportunities to Learn and Earn!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals! This link also gives you back 25% of the commission.
GMX.io: Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
MEXC: Accepts HIVE, and trades in most poopcoins! Join the casino!
ByBit: Leverage and spot trading, next Binance?
OkX: Again, another Binance contender?