While FTX customers across the world patiently await Sam Bankman-Fried\u2019s (SBF) legal conclusion in hopes of getting back their investments, users of FTX Japan have started withdrawing all of their funds.<\/p>\n
On Nov. 7, 2022, crypto exchange FTX and its subsidiaries halted all funds withdrawal after SBF was accused of misappropriating users\u2019 funds. The domino effect forced Liquid Group \u2014 a Japanese crypto trading platform owned by FTX since February 2022 \u2014 to halt withdrawals on Nov. 15, 2022.<\/p>\n
However, to some investors\u2019 delight, FTX Japan resumed withdraws on Feb. 21 \u2014 which involved moving funds from the defunct exchange to a Liquid Japan account. Days later, a popular crypto trader from Japan @Whiskey_bonbon_ confirmed to have successfully withdrawn all of their funds.<\/p>\n
A rough translation of the above tweet reads:<\/p>\n
\u201cAll payments completed! To be honest, at first, I felt like I had given up. I would like to express my gratitude to the people in FTXJP for their efforts, as they know the part that was really overlooked.\u201d<\/p><\/blockquote>\n
Just a day after resuming funds withdrawals, FTX Japan revealed that roughly $50 million (6.6 billion yen) was taken out from Liquid Global.<\/p>\n
While a community member responded to the development by saying, \u201cCongratulations on your escape! ! !\u201d many are yet to witness a total redemption of their funds. The reimbursement process is expected to come with delays due to the sheer number of users impacted by the FTX-SBF fiasco.<\/p>\n
Numerous community members have confirmed that all their money has been paid out. However, the FTX investors watching from the rest of the world remain hopeful of a similar outcome.<\/p>\n