The fourth distribution round closed March 31, 2026 — $2.2 billion sent. The fifth is May 29, 2026. If you're from Russia, Belarus, or Ukraine and haven't received anything, there are two possible reasons: distributions are genuinely blocked by your jurisdiction or KYC issues, or you haven't completed the required steps.
Either way, selling your claim is a real option. For most CIS creditors, it's the only realistic path to getting paid at all.
What Actually Happened with Restricted Jurisdictions
In July 2025, the FTX Recovery Trust filed a motion to withhold distributions from creditors in ~49 countries — including Russia, Belarus, Ukraine, and China. It created widespread panic. Then on November 3, 2025, the Trust withdrew that motion entirely, largely due to pushback from over 300 creditors.
The practical problem for CIS creditors isn't a legal ban — it's infrastructure. BitGo, Kraken, and Payoneer (the three official distribution providers) have varying willingness to onboard users from sanctioned countries. Belarus is the hardest. Russia is nearly impossible through official channels. Ukraine is workable for most.
This is why selling the claim is often the cleaner path.
How Selling an FTX Claim Works
When you sell your FTX claim, you're not selling an account or a password. You're transferring the legal right to receive future distributions to a new entity — typically a company in a non-restricted jurisdiction like Qredax or Cayman Islands.
The restriction follows the holder, not the claim. Once the claim transfers to a Qredax company that passes its own KYC, the distribution block disappears entirely.
The legal instrument is called a Sale and Assignment of Claim (SAC) — the same document used by Cherokee Acquisition, Xclaim, and Paxtibi. Standard, well-established US bankruptcy procedure.
Step-by-Step Process
Check your claim status on Kroll
Go to cases.ra.kroll.com/FTX and find your claim number. Status should be Allowed. If Disputed or Expunged — the process is different, contact us first.
Submit for evaluation
Send your claim number, class (5A, 7A, etc.), and face value. You'll receive a binding offer within 24 hours. No obligation to accept.
Sign the SAC agreement
A standard Sale and Assignment of Claim, signed digitally via DocuSign. Takes 10 minutes. No notarization required for most cases.
Receive payment
Payment in USDT TRC-20 (or BTC/ETH) within 24-48 hours of signing. The blockchain TXID is irrefutable proof of payment.
Buyer handles the rest
The buyer files a Notice of Transfer with the US Bankruptcy Court (Rule 3001). Kroll updates the register. All future distributions go to the buyer. Your part ends at step 4.
What Price Should You Expect
The secondary market for FTX claims is liquid. Prices move with each distribution announcement. As of April 2026:
| Claim Type | Market Price | Notes |
|---|---|---|
| Class 5A (Dotcom, >$50K), clean KYC | 90–95% | Best rate, immediate |
| Class 7A (Convenience, <$50K) | 80–85% | Clean, immediate |
| Restricted jurisdiction (RU/BY/UA) | 50–60% | Transfer overhead |
| KYC stuck / In Processing | 70–80% | Risk-adjusted |
| Bahamas Process (PwC) | 75–85% | Slower adjudication |
| Disputed claim | Case-by-case | Requires review |
Do You Need to Complete KYC First?
No. This is the most common misconception.
Your KYC status determines whether you can receive distributions directly. It has no bearing on whether the claim can be transferred to a buyer. The buyer completes their own KYC as the new holder of record.
If your KYC has been stuck "In Processing" for months — you can still sell. The buyer factors that uncertainty into pricing (usually 20-30% discount vs a clean claim), but the sale is fully legal and executable.
Belarus Specifically
Belarus is the most complicated jurisdiction for direct FTX distributions. The EU's 18th sanctions package (July 2025) creates additional compliance barriers for anyone physically located in Belarus. Even with KYC "Verified", Step 8 (DSP selection) is effectively blocked for most Belarus residents.
Two paths that actually work:
- You have foreign residency (UAE, Georgia, Poland, etc.): email kyc-support@ftx.com with your residence permit and a utility bill dated within 60 days. Kroll updates your jurisdiction in 2-4 weeks.
- You don't have foreign residency: sell the claim. The Qredax buyer entity has no Belarus connection and no sanctions exposure. You get paid in USDT immediately.
Documents You'll Need
- Your Kroll claim number (cases.ra.kroll.com/FTX)
- Screen recording of your Kroll portal — claim status, amount, your name
- Passport scan (name must match Kroll exactly)
- USDT wallet address (TRC-20) for payment
Sell Now vs. Wait
If you're a clean Class 5A creditor with no jurisdiction issues, verified KYC, and access to BitGo/Kraken — waiting might make sense. The 5th distribution is May 29, 2026.
Selling is likely better if:
- You're in Belarus or Russia and can't select a DSP
- Your KYC has been stuck for more than 8 weeks
- You need liquidity now and can't wait through multiple rounds
- Your claim is disputed or expunged
- You don't have access to BitGo, Kraken, or Payoneer in your country
FAQ
Get a binding offer on your FTX claim.
Send us your claim number. We'll respond with a firm offer within 24 hours — no obligation to accept.
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