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The Guardian - AU
The Guardian - AU
National
Josh Taylor

Australian administrator of FTX warns customers may not get all their money back

FTX United States KordaMentha Australia FTX Australia Cryptocurrency
Illustration shows FTX logo, stock graph and representation of cryptocurrencies
KordaMentha, the Australian administrator of failed cryptocurrency platform FTX, has held its first meeting of creditors. Photograph: Dado Ruvić/Reuters

The Australian administrators of failed cryptocurrency platform FTX are working to return funds to creditors but say some Australian-based customers could be forced to deal with US administrators.

FTX put its Australian companies into voluntary administration with KordaMentha last month following the spectacular collapse of the global cryptocurrency exchange at the start of November. Around 30,000 Australian customers were owed money or cryptocurrency from the exchange, in amounts ranging up to $1m.

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