FTX may reject claims exceeding $2.5 billion related to KYC non-compliance.

PANews, April 5th news, according to DL News, FTX will cancel the claim eligibility of nearly 400,000 customers due to users failing to start verifying their identities before the March 3 deadline. The non-compliance with the Know Your Customer regulations could lead to up to $2.5 billion in claims being canceled, including $655 million in small claims and $1.9 billion in large claims. FTX stated that this process is crucial as it is essential to compensate for the failures of the previous management in user data collection and due diligence.

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