The court ruled that BlockFi must return $300 million in funds from users' custody accounts, while $375 million in interest-bearing accounts is non-refundable

2023-05-11 23:25:30
Collection

ChainCatcher News, a judge in New Jersey has ruled that BlockFi custodial wallet users can receive nearly $300 million in refunds, as the assets in the wallets belong to the customers, not to the bankrupt cryptocurrency lender BlockFi.

However, the additional $375 million that customers attempted to transfer out of BlockFi's interest-bearing accounts (known as BIA) after November 10 still belongs to BlockFi. (Source link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
banner
ChainCatcher Building the Web3 world with innovators