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

PANews April 5 news, according to DL News report, due to users' failure to begin verifying their identity before the March 3 deadline, FTX will cancel the claims eligibility of nearly 400,000 customers. Non-compliance with know-your-customer regulations could lead to claims of up to $2.5 billion 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 vital for compensating the failures of the previous management in user data collection and due diligence.