Less than half of the non -American customers of the Blockfi Banking Banking Loan Loans have presented their assets with a deadline of May 15 that is coming, said the lender in a blog post on Wednesday.
Blockfi declared himself in bankruptcy in November 2022 as spread of the FTX collapse extended through the cryptographic industry. Later, the firm came out of bankruptcy and announced a plan in July 2024 to distribute 100% of the dollar value of customer claims at the time of bankruptcy presentation.
Until now, 97% of American customers have claimed their distributions, while only 43% of non -American customers have received their distributions. It should be noted that organizing distributions for American clients was easier and began before those of non -Americans, who involved courts both in the United States and Bermuda.
A possible reason for the deficit in the claimants could be because people think that Blockfi heritage messages asking customers to select a payment method are spam or phishing attacks. The firm said it has been working with security experts to reassure customers of legitimacy.
“Blockfi is doing everything possible to make final distributions to all previous customers,” said Blogpost. “Some clients may need to complete a process of identity verification of” knowing their client “to receive their distributions. We strongly encourage all customers who have not received their distributions or have completed this process to complete this process before May 15, 2025.”
American and non -American customers had to do KYC to use blockfi in the first place, so it is not likely to be an obstacle to those who still claim distributions.
The verification process, which requires two forms of identification, takes ten minutes to function, said Blockfi. Once completed, reviewed and approved, customers can expect to receive processed payments within 45 days, he said.
The bankruptcy code establishes that assets that are not claimed by customers for the deadline of May 15 will be shared among other creditors not guaranteed in the hierarchical order.
