Backpack Launches Zero-Fee Platform for FTX Claim Sales

Backpack has officially launched a dedicated channel to support the sale of FTX claims, offering a non-profit and fully neutral platform for global FTX creditors. The initiative aims to connect claim holders with verified third-party buyers, providing a streamlined path to liquidate their claims.

Importantly, Backpack charges no fees and does not profit from this service. “Our goal is simply to contribute to the crypto community in a meaningful way and provide support to those affected,” the company stated.

The Chinese community has responded positively to the news. Although the channel just launched today, some Chinese users have already successfully claimed their FTX compensation.

Backpack Expands FTX Recovery Efforts as Global Creditors Face Ongoing Payout

This initiative follows the collapse of FTX in November 2022, when the former leading global crypto exchange filed for bankruptcy amid serious fraud and misconduct allegations. In the aftermath, creditors across the globe have faced significant challenges in recovering their assets. The situation became even more complicated when FTX halted claim distributions in 49 jurisdictions, including China, Nigeria, Afghanistan, Fiji, and Zimbabwe, due to regulatory bans or legal obstacles. Creditors in China were hit the hardest, with approximately $380 million in frozen claims, which accounts for about 82 percent of the total affected amount.

Back in April 2025, Backpack took its first major step to assist affected users by acquiring FTX EU, enabling former users to reclaim their Euro funds and introducing fiat on/off ramp functionality to support future banking integrations.

How to Sell Your FTX Claim Through Backpack

The process involves four key steps: identity verification, claim validation, offer confirmation, and settlement. Backpack stresses that selling is optional: cashing out now locks at a guaranteed price, but holding the claim could yield a larger recovery once the FTX bankruptcy process concludes.

To participate in the FTX claim sale through Backpack, users will need:

• A valid FTX International bankruptcy claim

• Access to your claims.ftx.com account (email, password, and 6-digit OTP authenticator)

• Government-issued photo ID

• Proof of address dated within the last 90 days

• An active Backpack Exchange account

• Additional documents may be required for larger claims

Processing time for standard claims is typically within 24 hours of document signing. Larger claims may take longer due to extra verification requirements.