Backpack opens claims process for former FTX EU users

Crypto exchange Backpack has initiated the first phase of the claims process for former FTX users in Europe.

According to an April 1 announcement, users will need to create an account on the exchange, submit Know Your Customer information, and connect it to their FTX EU claim account.

Backpack has not set a deadline for this phase of the claims process and has yet to provide a timeline for when distributions will begin. Users will face a withdrawal fee of €5 ($5.39) for claims under €2,000…