FTX Gets Ready to Resume Operations After Security Breach

Cryptocurrency exchange FTX has been on a journey to mend its relationship with users after a turbulent period last year.

However, their efforts faced a setback in August when a cyberattack disrupted their operations, leading to funds being siphoned off by hackers. Now, as they put the security threat behind them, the exchange is gearing up to go back online.

On Sunday, September 17, FTX announced the reopening of its Customer Claims portal, featuring upgraded security measures.

Previously, the platform faced a security breach involving its bankruptcy claims agent, Kroll, which exposed non-sensitive data.

The breach, which occurred on August 19th, originated from a sim-swapping attack involving a Kroll employee. It allowed an unauthorized individual access to files containing personal information about the exchange’s claimants involved in an ongoing legal case.

FTX has assured its users that they can now access their accounts and proceed with the claims process for the cryptocurrency assets they held on the platform before the bankruptcy filing in November 2022.

Presently, the claims portal is accessible to customers with accounts on FTX, FTX US, Blockfolio, FTX EU, and FTX Japan.

Reports suggest that over 36,000 customer claims, totaling $16 billion, have been filed against FTX and FTX US, with only 10% having received approval.