Is FTX’s refund plan just another selective payout play, or are millions still locked out forever?

Key Highlights:

• Only 90 of 190 Payoneer-supported countries are eligible for FTX refunds, leaving behind millions of users in crypto-heavy regions.
• Creditor outrage is mounting, with claims of U.S. favoritism, delayed verifications, and payout bottlenecks even in “approved” regions.

Paradisers! As the third phase of FTX’s long-awaited creditor repayments looms, a new twist has sparked outrage across global crypto communities. Despite the bankrupt exchange selecting Payoneer as its latest distribution partner, joining BitGo and Kraken, major user bases in countries like China, Russia, Nigeria, and Ukraine remain frozen out.

Third Agent, Same Old Problems

FTX announced that Payoneer will handle repayments from phase three, beginning after May 30, 2025. The company framed the move as progress toward “global repayment accessibility,” but the reality looks more like a half-patched mess.

Out of the 190 countries Payoneer claims to serve, only 90 made the FTX distribution list. Big names like Nigeria, China (with 8% of total claims), Russia, and Ukraine are still locked out.

While some regions like Japan, Indonesia, and U.S. states (New York, Washington, and Maine) finally got greenlit, many others continue to face radio silence and refund limbo.

If You Chose Payoneer, You Gave Up Your Cash Rights

In a legal curveball, FTX’s new terms say that if you select Payoneer as your payout method, you’re legally assigning your repayment to them. FTX no longer owes you cash directly—it’s Payoneer’s job now to pay you. That’s a huge shift in liability and trust, and some users may not fully understand the implications.

The warning also comes with a fresh phishing risk alert: FTX emphasized they’ll never ask for wallet connections or use unofficial domains. But for locked-out users desperate for updates, scammers now have the perfect bait.

Still No Justice for FTX Bahamas Creditors and Delayed Withdrawals

Even for countries marked as eligible, things aren’t smooth. Users in FTX Bahamas are trapped in a nightmare of stalled ID verifications, payment instruction delays, and locked claims that have remained unresolved for months.

FTX claims to have $6.5 billion allocated for disputed claims, with $3.1 billion already approved. Yet delays are widespread—even BitGo withdrawals are reportedly slow and paused on weekends.

Creditor advocate Sunil Kavuri said the Bahamas issue isn’t isolated—many users still haven’t seen a cent despite doing everything right.

While the World Waits, Are You Prepared?

This refund saga proves what we’ve warned our subscribers on MCP News Private ($3/month) and ParadiseFamilyVIP for months: Don’t assume you’re getting paid without hiccups.

And those who caught our YouTube stream already knew which countries were most likely to face refund blocks.

If you’re still waiting for clarity, you’re behind.

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Because when it comes to FTX, “next phase” could mean next year. Or never.