cryptonews: FTX Japan users are getting their funds back. 🇯🇵
Unlike millions of other customers of Sam Bankman-Fried's cryptocurrency exchange, FTX Japan users are getting their funds back.
FTX Japan announced that it would open for the withdrawal of both cash and crypto funds at noon local time on Feb. 21. Apologizing for the "concern and inconvenience caused to our customers due to the suspension of our services," the exchange warned that the expected rush of withdrawals may slow the process.
FTX collapsed in November after it was revealed that some $10 billion of its customers' funds had been transferred — allegedly without permission or legal right — to shore up Bankman-Fried's foundering private trading firm Alameda Research. Some $8 billion appear to have been lost. Several top executives have pleaded guilty to fraud and Bankman-Fried is facing trial on eight counts.
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