FTX creditors are set to receive their first refunds starting February 18, according to an email sent to concerned users. Only FTX Bahamas creditors classified under the "eligibility class," with claims under $50,000, are currently eligible for refunds. Former CEO Sam Bankman-Fried was found guilty of embezzling customer funds to cover losses at sister firm Alameda Research, leading to the collapse of the once-leading cryptocurrency exchange. The refund plan offers nearly all affected customers around 119% of the cash value of their deposits from two years ago. However, some customers who lost their cryptocurrency holdings are disappointed with the plan, as it is based on cryptocurrency prices at the time of the crash, resulting in lower compensation for those holding Bitcoin, Ethereum, and Solana.



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