Bankrupt crypto lender BlockFi is seeking a court order to allow customers to withdraw crypto locked up in the platform. By iamsandali
In addition to asking the court to allow customers to withdraw funds that remain in their BlockFi wallets, the company also wants to clear up the user interface that incorrectly reflected some transactions that in actuality never took place.
“Simply put, the [clients] were unable to, and did not, effectuate any transactions on the BlockFi platform beginning the moment of the Platform Pause Time Stamp,” the filing said, referring to the exact time when withdrawals were halted. The company plans to delete any “attempted” withdrawals following the platform pause from the user interface to clear up any confusion, the filing said.
“For the avoidance of doubt, the Debtors do not seek to reverse any client deposits from outside the platform into Wallet Accounts which were received following the Platform Pause Time Stamp,” the filing said. But if the relief order is approved by the New Jersey court, any customers who deposited new funds after the “platform pause” will also be able to withdraw those funds.to BlockFi users being shared on Twitter, the company said, “it is our belief that clients unambiguously own the digital assets in their BlockFi Wallet Accounts.” The email added BlockFi will be seeking similar relief with the Supreme Court of Bermuda with respect to wallets held at BlockFi International Ltd.
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