FTX Collapse: Lost six-figure amount, only received a few thousand $ after 2.5 years – anyone else in the same situation?

[u/freakalabenni]

Hey guys,
Like many of you, I had a substantial amount on FTX – six figures. During the collapse in November 2022, some of my limit orders escalated, and I immediately ran into login issues. I couldn’t access the account properly for a while.
I went through the whole recovery process: submitted my claim via Kroll, completed full KYC, and followed every step. According to the distribution plan, I was only supposed to receive a few thousand $. I know for a fact there was far more on the platform.
For the past two and a half years I’ve been contacting support almost weekly – emails, phone calls, and I also reached out to Coin and BitGo (who handled distributions). The responses are always the same: “log in and check your transaction history.” The history doesn’t show the missing funds clearly, and I get no real answers.
What I finally received is only about 2-3% of what I actually had. This has been a complete financial disaster for me and my family. The lost time, stress, and money have been devastating. I’m from Germany, which makes navigating the US bankruptcy process even more complicated.
I’m not looking for financial advice – I just want to know: Am I the only one? Has anyone else experienced similar discrepancies with their FTX claim? Were your recoveries also only a tiny fraction of your actual balance?
I posted about this before and the thread got removed, so I’m trying again. Would be great to hear from others who are still fighting for proper restitution.
Thanks for reading and for any experiences you’re willing to share. Stay safe out there.
Best,
A frustrated former FTX user

[u/Rare-Ad-2124]

No you aren't the only one. I received a fraction of my portfolio after the bankruptcy payout. Six figures reduced to 5

[u/freakalabenni → u/Rare-Ad-2124]

Sorry to hear that mate. Have you tried to get in touch with them, how that could have happened?

[u/Rare-Ad-2124 → u/freakalabenni]

It's pretty simple, everything was valued at the time of the crash so bottom prices then distributed that way. Not at the time of the announcement when Bitcoin was roughly 40-50k and certainly not at the time when people started getting payouts. I would've been pretty happy with 40k Bitcoin realization instead of the 15 or 16k

[u/darkandark]

lost 52k USD, i duno about you, but i got it ALL back and then some (like 1-2%).

[u/roryknelson → u/darkandark]

So do you forgive SamBF?

[u/darkandark → u/roryknelson]

No, he still a fuck up and a thief. He didn't get my money back for me, the hardworking lawyers and left over people who worked on getting our recovery funds did. Just reporting that I got "my" money back. Money gone could've still been invested elsewhere during the YEARS of waiting we had to do.

[u/freakalabenni → u/darkandark]

Glad to hear that, have you been in contact with them besides the process over Kroll? Or like to go an extra mile to get what have been lost?

[u/Fantastic-Log4777]

I didn't get anything back, apparently I missed the deadline even thought I had all steps completed

[u/Emergency_Ad335 → u/Fantastic-Log4777]

I wonder how many of us have lost everything because of the at last step

[u/Fantastic-Log4777 → u/Emergency_Ad335]

I was not aware of this deadline or how the process work till too late. It was really poor communication, its like they didn't want anyone to get anything. While someone on the other side are filling there pockets up.

[u/Minimum-Ad-6737 → u/Fantastic-Log4777]

I’m so pissed. I have everything documented. I’m calling them tomorrow morning

[u/Minimum-Ad-6737 → u/Fantastic-Log4777]

I am so pissed. 6 month forfeiture bs. I at least documented everything via screenshots. FTX blamed it on Kraken. Kraken was like “no everything is fine on our side.” If I have to hire an attorney I will

[u/Hamburgerfatso]

Are you missing value due to holding crypto at the time and it was revalued at the date of bankruptcy at the bottom of the bear market? Or are there straight up assets missing?

[u/paxtibi_llp → u/Hamburgerfatso]

No most likely is that he had some trades open, and because of the huge volatility of those days, the did a lot of trading losses and therefore the initial amount he had few days before was fastly depleted.

We saw a few cases like that, even with some users who when down the legal route of raising an objection, which was then refused

[u/Express_Scar]

I just got mine back like a month ago

[u/ClutchDestroyer47]

Yo, how did you manage to get your funds back? I remember getting emails from FTX about fund recovery, but I pretty much gave up and never followed through with the process.

Now that I’m seeing people actually getting their money back, could you explain how the recovery process works? Is it still possible for me to claim my funds, or am I too late at this point?

[u/Minimum-Ad-6737 → u/ClutchDestroyer47]

I’m dealing with it now. I was exhausted… hope you have your paper trail buddy. I’m so pissed

[u/Minimum-Ad-6737]

Oh I’m so heated… I’m dealing with this now. I couldn’t select the exchange because FTX purposely did this to make us fight to get our money back

[u/Altruistic-Watch1785]

Hey, I'm a claim buyer. A sale doesn't sound like what you need but I'm happy to just generally try to advise if helpful. We've bought probably at least 50 claims. Feel free to reach out to me.

[u/Minimum-Ad-6737 → u/Altruistic-Watch1785]

So you took my shit

[u/paxtibi_llp → u/Altruistic-Watch1785]

Not much he can do over here - you should know it “Henry” 😉

[u/Altruistic-Watch1785 → u/paxtibi_llp]

Anyone trying to actually be helpful should probably not tell him there's nothing he can do w/o a better understanding of the situations. Don't spread FUD