As FTX clients around the world patiently await the conclusion of the litigation between FTX and Sam Bankman-Fried (SBF), FTX Japan users have started withdrawing all their funds.
However, to the delight of some investors, FTX Japan resumed withdrawals on February 21, which involved moving funds from the defunct exchange to a Liquid Japan account. Days later, a popular cryptocurrency trader from Japan, Hibiki Trader, confirmed that he had successfully withdrawn all of his funds.
All payments completed!
To be honest, at first, I felt like I had given up.
I would like to express my gratitude to the folks at FTXJP for their efforts, as they know the part that was really overlooked.
Even if you haven’t retired yet, be patient. pic.twitter.com/34v7MFznLC— Hibiki＠Trader (@Whiskey_bonbon_) February 25, 2023
A rough translation of the above tweet reads:
“All payments completed! To be honest, at first, I felt like I had given up. I would like to express my gratitude to the folks at FTXJP for their efforts, as they know the part that was really overlooked.”
One day after resuming withdrawals, FTX Japan revealed that users withdrew approximately 6.6 billion yen ($50 million).
While a community member responded by saying, “Congratulations on your escape! ! !” many have yet to witness a full redemption of their funds. The refund process is expected to be delayed due to the large number of users affected by the FTX crash.
Numerous members of the community have confirmed that all their money has been paid. However, FTX investors watching from the rest of the world remain hopeful of a similar outcome.
Related: Lawyers for Sam Bankman-Fried request extension of bail condition proposal
Following the indictments against SBF, a federal judge ordered the unsealing of a superseding indictment containing 12 criminal counts.
A new superseding indictment against cryptocurrency exchange FTX founder Sam Bankman-Fried, containing 12 counts, has been unsealed in Manhattan federal court. https://t.co/MKmmgW7W01 pic.twitter.com/r9JVKNljDt
— Reuters Legal (@ReutersLegal) February 23, 2023
As Cointelegraph reported, US Attorney Damian Williams charged Bankman-Fried with eight counts of fraud-related conspiracy and four counts of wire fraud and securities fraud.
SBF’s criminal trial is due to start in October, while FTX’s bankruptcy case is ongoing.
