BlockFi has notified its customers that the first stage of payments will take several months. Customers from the United States will receive appropriate notifications to previously registered email addresses on the platform. However, customers who are not US citizens will not be able to receive financial compensation yet due to the regulatory requirements in force in their relationship.
"The administration of the company and the liquidators of BlockFi International have prepared a joint plan for the distribution of funds for non-US clients, which complies with the rules of Bermuda. However, until all interested parties confirm that these requirements are in their best interests, no further funds will be approved for distribution to non—U.S. clients," the statement said.
BlockFi added that in fact, compensation to customers from the United States has been on a limited scale since October 2023. However, until now, the owners of BlockFi interest-bearing accounts and retail lenders have been forced to wait for the start of repayment of obligations. The BlockFi Liquidation Commission clarified that the final amount of repayment of obligations to customers may depend on the outcome of the bankruptcy case of the FTX cryptocurrency exchange and its sister company Alameda Research.
In March, a cybersecurity expert under the nickname Plumferno said that anonymous attackers carried out a phishing attack aimed at creditors of the bankrupt BlockFi company.