FTX Japan customers will soon be able to withdraw their funds from the collapsed crypto exchange

• FTX Japan users will be able to withdraw their funds from the crypto exchange in February.
• The Japanese unit published a plan where users can get their money back via Liquid Japan, a local exchange acquired by FTX.
• The plan would make FTX Japan users some of the first to get their money back since the November 11 bankruptcy filing.

FTX Japan, a subsidiary of Sam Bankman-Fried's FTX Trading, said that customers will be able to withdraw their funds from the embattled cryptocurrency exchange starting in February.

The Japanese unit of FTX published a plan where users can get their money back via Liquid Japan, a local exchange acquired by FTX for an undisclosed amount earlier this year.

FTX Japan will instruct clients next month to set up an account with Liquid Japan, and they can later retrieve their assets beginning in mid-February. The timeline on the asset retrieval, however, is still subject to change, according to a blog post on Friday.

The news would make FTX Japan users some of the first to get their money back since FTX filed for bankruptcy on November 11.

Some FTX users in the Bahamas were able to get their money out before the filing. On November 10, FTX said it had to begin facilitating Bahamian withdrawals to comply with local regulations. Meanwhile, clients in other countries were barred from doing so.

Financial regulators ordered FTX Japan to halt all platform withdraws and suspend services on November 8.

Without another way to retrieve their funds, some FTX customers are selling their credit claims at steep discounts amid an uncertain and potentially lengthy bankruptcy process.

Meanwhile, Bankman-Fried was arrested earlier this month and is slated to appear in a New York federal court on January 3 for charges of wire fraud and conspiracy.