As FTX clients around the world wait patiently for the conclusion of the FTX litigation and Sam Bankman-Fried (SBF) But on the other hand, FTX Japan users have started withdrawing all their funds.
After the exchange FTX and its subsidiaries filed for bankruptcy. There was also a domino effect causing Liquid Group, a Japanese crypto trading platform owned by FTX since February 2022, to halt withdrawals starting November 15, 2022.
However, to the delight of investors, FTX Japan re-opened withdrawal processing on February 21, moving funds from FTX Japan to Liquid Japan account, and a day later, popular crypto trader Hibiki Trader from Japan exited. Confirm that all funds have been withdrawn successfully.
A day after the opening of withdrawals, FTX Japan revealed that about 6.6 billion yen ($50 million) had already been withdrawn by users.
The Crypto community also expressed their congratulations. Although there are still many people who still can’t withdraw all of their money. As the refund process is expected there may be a delay due to the large number of users affected by the FTX meltdown.
Many community members have confirmed that all their funds have been withdrawn. And this has given FTX investors watching from other parts of the world the hope that they will find similar results.
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