FTX Back to Normal Operation After Freezing User Accounts

FTX is preparing to return online after falling victim to a security breach.

Nervous man looking at a huge jar of coins, the jar has an FTX logo and lot's of cracks.
Created by Gabor Kovacs from DailyCoin
  • FTX announced restoring its Customer Claims portal. 
  • The exchange previously halted operations because of a security breach. 
  • Over $16 billion in customer claims remain unprocessed. 

Cryptocurrency exchange FTX’s new management is on a mission to make its users whole again after the chaos it stirred last year. However, its efforts were marred in August by a cyberattack that enabled hackers to siphon funds from their rightful owners, due to which the exchange was forced to pause operations. 

Now, with the threat eliminated and the aftermath of the storm behind them, the defunct exchange is preparing to return online. 

FTX Customer Claims Portal Back Online

On Sunday, September 17, FTX announced restoring its Customer Claims portal with improved security protocols. Previously, the platform’s bankruptcy claims agent, Kroll, had fallen victim to a security breach that exposed non-sensitive data. 


The breach, which occurred on August 19th, stemmed from a sim-swapping attack involving a Kroll employee and provided an unauthorized individual with access to files detailing the personal information of the exchange’s claimants in the ongoing legal case. 

The exchange has informed users that they can now access their accounts and proceed with the claims process for crypto assets they held on the exchange before the bankruptcy filing in November 2022. 

The claims portal is currently open to customers with FTX, FTX US, Blockfolio, FTX EU, and FTX Japan accounts. According to reports, over 36,000 customer claims worth $16 billion have been filed against FTX and FTX US, of which only 10% have been agreed on. 

On the Flipside

  • The Customer Claims platform went offline on launch day in July for unknown reasons. 
  • FTX recently received approval to sell its assets worth $3.4 billion in weekly batches. 

Why This Matters

FTX’s collapse had a very lasting impact on the crypto landscape. Aftershocks from the exchange’s downfall still affect the industry as regulators use stricter measures against crypto platforms in the US. Reactivating the claims portal will help users recover their funds and alleviate tensions. 


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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.