Terms of Service

Last updated: 3 May 2026

These Terms of Service ("Terms") govern your use of qredax.com and the services provided by Qredax ("we", "us", "our"). By using our website or submitting a claim evaluation request, you agree to these Terms.

1. Services we provide

Qredax provides the following services:

• Claim evaluation — non-binding indicative pricing for FTX bankruptcy claims based on submitted information
• Binding offers — formal purchase offers issued after document verification
• Sale and Assignment of Claim ("SAC") execution — preparation, execution, and filing of SAC agreements with the FTX claims agent (Kroll) under Federal Rule of Bankruptcy Procedure 3001(e)
• Payment processing — settlement in USDT, USDC, or other agreed cryptocurrencies

2. Eligibility

To use our services, you must:

• Be at least 18 years old
• Be the lawful owner of the FTX claim you wish to sell, or have legal authority to sell on behalf of the owner
• Not be subject to applicable sanctions (OFAC SDN list, EU consolidated list, UK sanctions, UN sanctions)
• Comply with all applicable laws of your jurisdiction

We reserve the right to refuse service to any person at our sole discretion.

3. Claim evaluation process

The evaluation process involves:

1. You submit your claim details through our website form
2. We review the submitted information and may request additional documentation
3. We issue a non-binding indicative price range, typically within 24 hours
4. Upon mutual agreement, we issue a binding offer with specific terms
5. Upon your acceptance, we draft and execute the SAC agreement
6. We file the SAC with Kroll and process payment

Indicative pricing is non-binding and subject to verification of submitted information. Binding offers are valid for the specific period stated in the offer letter.

4. Pricing and payment

Pricing depends on multiple factors including:

• Claim class (Class 5A, 5B, 6A, 6B, 7, expunged)
• Claim amount
• KYC status with Kroll
• Country of residence and jurisdiction-specific risk factors
• Current market conditions for FTX claims

We do not charge upfront fees. Our compensation comes from the spread between the price we pay you and the eventual distribution we receive from the FTX Recovery Trust.

Payment is made in USDT (Tether), USDC, or other agreed cryptocurrencies, sent to the wallet address you provide. Payment timing is specified in the binding offer letter and is typically within 24-48 hours of SAC execution.

5. Your obligations

By using our services, you represent and warrant that:

• All information you provide is accurate, complete, and current
• You have legal authority to sell the claim
• The claim is not subject to any liens, encumbrances, or competing claims
• You have not previously sold or assigned the claim to any other party
• You will provide all documents and signatures required to execute the SAC
• You will not engage in fraudulent or misleading conduct
• You comply with all applicable tax obligations in your jurisdiction

6. Our obligations

We commit to:

• Provide honest, indicative pricing based on submitted information
• Maintain confidentiality of your submission (subject to legal disclosure requirements)
• Execute the SAC in accordance with Federal Rule of Bankruptcy Procedure 3001(e)
• File the SAC with Kroll within the timeframe agreed in the binding offer
• Process payment in accordance with the binding offer terms

7. Disclaimers

The services are provided on an "as is" basis. We make no warranties, express or implied, regarding:

• The future value of your claim if you choose not to sell
• The timing or amount of any future distribution from the FTX Recovery Trust
• The success of any KYC verification process at Kroll
• The acceptance of the SAC by Kroll (which is not within our control)

This is not financial, legal, or tax advice. You should consult independent advisors before making any decision regarding your claim.

8. Limitation of liability

To the maximum extent permitted by law, our total liability arising from or related to these Terms or our services shall not exceed the amount we have paid you for the SAC, or, if no payment has been made, $1,000.

We shall not be liable for indirect, incidental, special, consequential, or punitive damages, including lost profits, loss of opportunity, or loss of data.

9. Dispute resolution

Any dispute arising from these Terms or our services shall be resolved through:

1. Good-faith negotiation — first, the parties shall attempt to resolve the dispute through direct negotiation for a period of at least 30 days
2. Mediation — if negotiation fails, the parties may agree to non-binding mediation
3. Arbitration — final disputes shall be resolved through binding arbitration in the jurisdiction of Qredax's registration

You waive the right to participate in class actions or representative proceedings.

10. Termination

We may terminate our engagement with you at any time before SAC execution if:

• Submitted information is found to be false or incomplete
• Sanctions screening identifies a match requiring further compliance review
• Legal or regulatory obligations require us to do so
• You fail to provide required documentation within reasonable time

After SAC execution, the agreement is governed by the SAC terms and bankruptcy law, not these Terms.

11. Modifications

We may modify these Terms at any time. The "Last updated" date at the top reflects the current version. Continued use of our services after modifications constitutes acceptance of the updated Terms.

12. Governing law

These Terms are governed by the laws of the jurisdiction in which Qredax is registered, without regard to conflicts of law principles.

13. Contact

For questions about these Terms:

Email: [email protected]