Crypto exchange FTX Trading’s Japanese arm FTX Japan plans to resume withdrawals by the end of this year. While the withdrawals are currently suspended, FTX Japan’s executive said that the team is already developing its withdrawal system.
The withdrawals are currently suspended as FTX Japan uses the same payment system as its parent company FTX, which filed for Chapter 11 bankruptcy. FTX CEO Sam Bankman Fried filed bankruptcy for over 130 companies under FTX.
FTX Japan executive claims a separate withdrawal system is under development and the goal is to resume withdrawals for customers by the end of this year. Moreover, the Japanese arm has around 19.6 billion yen ($138 million) in deposits as of November 10. However, it has not confirmed the outflow of customer assets overseas.
According to the court filing, FTX owes almost $3.1 billion to the top 50 creditors. The largest creditor has a claim worth $226 million. The FTX crisis affected over 1 million customers.
FTX Accounts Drainer continues to withdraw crypto assets from FTX and FTX US wallets, converting them to Ethereum. Recently, the hacker started swapping Ethereum for renBTC, converting it to Bitcoin.
FTX Accounts Drainer holds 185,735.29 ETH worth nearly $207 million. It is now the 43rd largest holder of Ethereum. FTX accounts drainer 1 transferred 15k ETH to 0x8059, then 0x8059 swapped ETH for renBTC and 0.33 WBTC, bridging to Bitcoin.
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