About Qredax - FTX Claim Buyer for CIS Creditors

Qredax is an independent buyer in the bankruptcy claims market, with primary focus on FTX claims from CIS creditors - Russia, Belarus, Ukraine, Kazakhstan, and surrounding countries. We focus on claim categories that other buyers refuse or underprice: KYC-blocked claims, restricted-jurisdiction claims, expunged claims, and Class 7 Convenience claims. We may expand coverage to other estates (Terraform Labs, Genesis Global, and similar) as opportunities arise.

What we do

The FTX Recovery Trust is distributing approximately $14.7 billion to former FTX customers across multiple tranches running through 2027 and beyond. Distributions are processed through Kroll, the court-appointed claims agent, under a Sale and Assignment of Claim (SAC) framework defined by Bankruptcy Rule 3001(e).

Many CIS creditors cannot access these distributions directly. Reasons include:

• KYC verification with Kroll fails or stalls for non-US passports - particularly Russian, Belarusian, and Iranian passports.
• The November 2025 motion regarding restricted jurisdictions was withdrawn, but operational delays for CIS holders remain.
• Expunged claims are administratively removed from the distribution roll, even when the underlying ownership is valid.
• Multi-year delays mean creditors with immediate liquidity needs cannot wait for full distribution.

Qredax purchases these claims directly. We become the holder of record at Kroll, complete KYC as the new holder, and settle to the original creditor in USDT after the SAC agreement is signed.

Methodology

Pricing and risk assessment is based on systematic monitoring of the FTX bankruptcy proceedings. Our research stack includes:

We monitor every relevant court filing, transfer notice, and Recovery Trust update in real time. Pricing reflects the specific risk profile of each claim - claim class, KYC status, jurisdiction, and whether the claim is in dispute or has been expunged. We do not use generic discount rates.

Read more: FTX Restricted Jurisdictions - What CIS Creditors Need to Know →

How we differ from other buyers

Most active claim buyers in the FTX market focus on US and Western European creditors with clean Class 5A claims. They generally decline:

• Claims from creditors in restricted or sanctioned jurisdictions
• Claims stuck in KYC verification
• Expunged claims requiring Rule 60(b) reinstatement work
• Smaller Class 7 Convenience claims

Qredax specializes in exactly these segments. We accept the operational complexity that other buyers avoid.

Read more: Why Kroll KYC Fails for Non-US Passports →

Process and documentation

Every transaction is executed under a written Sale and Assignment of Claim (SAC) agreement registered with Kroll. The SAC documents the buyer (Qredax), the seller, the claim amount, and the agreed price. Sellers may have the SAC reviewed by independent counsel before signing.

We do not request upfront fees. We do not request payment in unusual tokens or to personal wallets. We sign an NDA before any document exchange. Payment is sent only after the SAC is signed by both parties.

Read more: How to Sell Your FTX Claim from Russia, Belarus, or Ukraine →

Anonymity and operational structure

Qredax operates as a private specialized buyer, and we want to address that directly. You do not need our internal corporate name to sell safely, because what protects you is the structure of the transaction. Every purchase runs through a written SAC agreement under Rule 3001(e) that your own lawyer can review before you sign, with no upfront fee and no access to your accounts. When a transfer completes, it is recorded on the public Kroll docket under the buyer name, leaving an independent, court-administered record. Operating under a firm identity rather than personal names is also standard in crypto and in distressed-debt trading.

If you want more comfort before sharing documents: read our published research on the FTX claims market (linked from the homepage), check our Trustpilot reviews, have independent counsel review the SAC, and look at the Kroll docket history of completed transfers. All of it is verifiable before you commit to anything.

We screen every seller against the OFAC, EU, UK, and UN sanctions lists, and we do not transact with sanctioned persons.

Sources we monitor

• Kroll FTX claims portal - official claims registry and customer code system
• FTX Recovery Trust quarterly reports and distribution announcements
• OFAC SDN list - for sanctions screening of all parties
• Public commentary from major creditor advocates and bankruptcy practitioners