Vietnamese FTX Users Confirm They Can Withdraw Funds Amid Court Case
On April 4th, it was reported that Vietnamese users of FTX confirmed that they had received an email stating that they would be able to withdraw funds from FTX, including customer
On April 4th, it was reported that Vietnamese users of FTX confirmed that they had received an email stating that they would be able to withdraw funds from FTX, including customer code and claimed assets. The Vietnamese FTX user community stated that the balance mentioned in the email was completely consistent with the assets they had stranded on the exchange. However, the email also pointed out that this is only a confirmation “proof” of the creditor. The refund schedule and related instructions will be determined by the court.
Foreign media: FTX Vietnamese users have also received confirmation emails from creditors, and the details of withdrawal are yet to be determined by the court
On April 4th, Vietnamese users of FTX received an email stating that they would be able to withdraw their funds from the exchange, including customer code and claimed assets. This news comes amid a court case involving FTX and its founder, Sam Bankman-Fried, who is being sued for $7 million by Liquid Capital Management.
The Background of the Case
The plaintiff in the case, Liquid Capital Management, alleges that FTX took advantage of a security breach on Liquid Capital’s trading platform to engage in fraudulent trading and steal $7 million from the company. FTX denies the allegations, stating that the security breach was caused by Liquid Capital’s own negligence.
The case has been ongoing since December 2020 and has resulted in a freeze on FTX’s assets in Vietnam. This has prevented Vietnamese users from withdrawing their funds from the exchange.
Confirmation of Withdrawal
The email received by Vietnamese FTX users confirms that they will be able to withdraw their funds, including customer code and claimed assets. The balance mentioned in the email was completely consistent with the assets users had stranded on the exchange.
However, the email also pointed out that this is only a confirmation “proof” of the creditor. The refund schedule and related instructions will be determined by the court. So, this news doesn’t confirm that all of the Vietnamese users’ balances will be returned, but it is a step in the right direction.
The Impact on FTX
The ongoing court case has had a negative impact on FTX’s reputation and trading volume. The exchange has been accused of engaging in fraudulent trading and not acting in the best interests of its users.
The confirmation of withdrawal for Vietnamese users is a positive step for FTX. It demonstrates that the exchange is taking steps to comply with legal obligations and return users’ funds.
Conclusion
The confirmation of withdrawal for Vietnamese FTX users is good news for those who have been unable to access their funds due to the ongoing court case. However, it is important to note that this confirmation is only a proof of the creditor; the refund schedule and related instructions will be determined by the court.
FAQs
#1. What is FTX?
FTX is a cryptocurrency exchange that allows users to trade a variety of digital assets.
#2. Why are Vietnamese FTX users unable to withdraw their funds?
Vietnamese FTX users have been unable to withdraw their funds due to a court case involving FTX and its founder, Sam Bankman-Fried.
#3. Will all Vietnamese FTX users be able to withdraw their funds?
The confirmation of withdrawal for Vietnamese FTX users only confirms the balance they have on the exchange; the refund schedule and related instructions will be determined by the court.
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