FTX is gearing up to start repaying its creditors in February 2025, with an initial emphasis on settling smaller claims under $50,000 through distributions totaling $1.2 billion. These processes require creditors to complete tax and identity verification forms by January 20, 2025.
Despite the structured plan, security concerns have emerged due to phishing attempts targeting creditors during the verification procedure. FTX aims to mitigate these threats as they progress towards their ambitious $16 billion creditor repayment goal. This initiative marks a significant step forward for FTX in addressing past financial challenges and reassuring their creditors.
Source: blockonomi.com ↗