Backpack, a crypto exchange, has announced that customers of the defunct crypto exchange FTX EU can now reclaim their funds through its service. According to a recent post on May 12 by Backpack, users who selected Backpack as the redistribution platform on FTX EU can claim their euro balance after completing Know Your Customer (KYC) verification. The support page of Backpack also emphasized the importance of matching the KYC details on their platform with those provided to FTX EU to avoid delays in accessing the distribution. The claims process for former FTX EU exchange users was initiated by Backpack on April 1, requiring users to create an exchange account and undergo KYC checks. Users who signed up for FTX before March 7, 2022, are not automatically considered FTX EU users unless they signed up specifically on the FTX EU platform. Backpack acquired FTX EU in January 2025 to offer crypto derivatives in Europe, following a contentious battle for the bankrupt exchange’s European arm. Backpack CEO Armani Ferrante pledged to return FTX EU funds promptly and securely after the acquisition. However, a dispute arose between Backpack and the FTX estate over ownership rights to FTX EU, with the FTX estate claiming that 100% of the share capital of FTX EU remained under the ownership of FTX Europe AG, a subsidiary of FTX. This development underscores the ongoing complexities in the cryptocurrency exchange landscape.