Morph’s Complete FTX Claims Guide

Nick_Morph

— 4 min read

After years of uncertainty following FTX's bankruptcy filing in November 2022, there's finally a clear path for creditors to receive their funds. The claims process is now entering its final phase, with distributions set to begin this year. This comprehensive guide will walk you through everything you need to know about recovering your assets.

What to Expect: Distribution Overview

The good news is that former FTX customers with claims under $50,000 (known as the Convenience Class) will receive approximately 120.5% of their claim value. This amount consists of:

  • 100% return of your principal balance
  • 20.5% in accrued interest (calculated from November 11, 2022, to February 18, 2025)

Let's break this down with a simple example. If your claim is $1,000:

  • Principal return: $1,000
  • Interest payment: $205
  • Total distribution: $1,205

The total distribution across all claimants is expected to be between $14.7-16.5 billion, making this one of the largest cryptocurrency recoveries to date.

Critical Dates to Remember

The success of your claim depends on meeting several important deadlines. Here are the key dates you need to mark on your calendar:

  • January 3, 2025: Plan Effective Date – This is when FTX’s bankruptcy reorganization plan officially began.
  • January 20, 2025: Pre-Distribution Deadline – All necessary steps (KYC verification, submission of tax forms, etc) had to be completed by this date.
  • February 18 – Early March 2025: Initial Distributions – Small creditors (those in the Convenience Class) are expected to begin receiving payments within 60 days of the effective date. Distributions may start as early as February 18, but for some, it may extend until early March.
  • July 3, 2025: Final Deadline – This is the final deadline (approximately 6 months from the effective date) to complete any outstanding requirements.

⚠️ Important: These deadlines are non-negotiable. Missing any of them could result in forfeiting your distribution rights, so it’s crucial to act well before these dates.

Step-by-Step Process to File Your Claim

To help you navigate the claims process we break it down into clear steps that make it much more manageable. Here’s what you need to do:

  1. Account Registration and Email Verification
    • Visit the official FTX Customer Claims Portal (make sure the URL is exactly https://claims.ftx.com).
    • Register or log in using your original FTX credentials.
    • Verify your email immediately using the confirmation link sent to you.
  2. Submit Your Electronic Proof of Debt (EPOD)
    • Once logged in, you’ll see your account balance as recorded on November 11, 2022.
    • Accept the displayed balance if it’s correct, or upload supporting documents if you need to dispute any part of it.
  3. Complete Identity Verification (KYC/AML)
  4. Submit Payment Instructions and Tax Forms
    • After your claim is reviewed and your identity verified, you will be guided to the Payment Instruction Submission stage.
    • Here, if your claim is above $50,000, you must select whether to join the Convenience Class, capping your claim at $50,000 in exchange for receiving a quicker payout.
    • Additionally, complete the necessary tax forms (W-9 for U.S. residents, W-8BEN for non-U.S. residents).
    • For official tax guidance and information please review: https://support.ftx.com/hc/en-us/articles/30028844090772-General-Information-on-Tax-Requirements 
  5. Monitor Your Claim Dashboard
    • The claims portal features a secure messaging system where you’ll receive updates and notifications regarding your claim’s status.
    • Be sure to respond promptly to any requests for additional documentation to avoid delays in your distribution.

For the latest official FTX step-by-step portal instructions please review: https://support.ftx.com/hc/en-us/articles/19519576531476-Using-the-Customer-Claims-Portal

Accepted Distribution Platforms: BitGo and Kraken

FTX has partnered with secure cryptocurrency platforms to streamline the repayment process:

BitGo

BitGo is a regulated custodian renowned for its secure, multi-signature wallets.

Account Setup:

During the Payment Instruction Submission stage, you'll be assigned a unique 16-digit verification code. Click the “Create BitGo Account” link to register on their platform using your FTX account email.

Alternatively, begin the process here: https://www.bitgo.com/ftx-digital/ 

Kraken

Kraken, a well-known U.S.-based exchange, provides another secure channel for receiving your funds.

Onboarding Process:

If you choose Kraken (through the FTX claims portal), you may need to create an account and complete their verification process. Detailed instructions will be provided via the portal.

For additional information on Distribution services providers please review: https://support.ftx.com/hc/en-us/articles/33190623459092-General-Information-on-Distribution-Service-Providers 

Security and Best Practices

Protecting Your Information:

  • Always use the official FTX portals (https://claims.ftx.com) to access your claim information.
  • Check for secure connections (HTTPS) and verify sender email addresses in communications.

Data Management:

  • Use strong, unique passwords and enable two-factor authentication (2FA).
  • Maintain a secure record of all documentation submitted and correspondence received.

Frequently Asked Questions (FAQs)

Q: How are my claims valued?

A: Claims are valued based on your account balance as of November 2022. This "dollarization" fixes your recovery amount regardless of subsequent market fluctuations. You’ll receive your principal plus interest (approximately 20.5%).

Q: What happens if I miss a submission deadline?

A: Missing any deadline—whether for KYC, tax forms, or payment instructions—could result in forfeiting your right to receive a distribution. Act promptly to secure your claim.

Q: How do I ensure I’m using an official portal?

A: Always access your claim through the official FTX portal (https://claims.ftx.com) or the PwC portal (https://digitalmarketsclaim.pwc.com).

Q: Who do I contact if I experience issues during the process?

A: Use the secure messaging function on the claims portal for assistance, and consult the official FTX support page.

Additional Resources 

Official Documentation:

Verified Official Email Addresses

Tip: If you receive an email from an address not on this list—or if you’re ever in doubt—contact [email protected] to verify its authenticity.

Continue Your Crypto Journey with Morph 

As you prepare to receive your funds, you may be exploring opportunities in the blockchain landscape. Morph has something special for all FTX Survivors coming March 3rd so stay tuned.

Website | Twitter | Discord | Telegram | Medium | Linkedin

Read more