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ID:

blockfi-1411

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Date:

Status:

Incident Count:

November 28, 2022

Verified

1

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REKT

Contributor:

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web3rekt.com

KYC By:

KYC:

None

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50 pts

Audit By:

Audits:

None

Loss Amount:

-

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Recovered:

-

Rewards:

Ticker:

USD

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100 pts each

BlockFi, which let users earn yield for depositing idle cryptocurrencies on the platform, first halted withdrawals on November 11, the same day FTX filed for bankruptcy. BlockFi filed for Chapter 11 bankruptcy protection. In June, BlockFi announced a revolving $250 million line of credit with FTX roughly a week after the crypto lender cut staff by roughly 20%.

BlockFi owes its 50 largest creditors $1.3 billion, according to its bankruptcy filing, and has between $1 billion and $10 billion in assets and liabilities.

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