BlockFi reaches a settlement with the U.S. Department of Justice, $35 million encryption asset lawsuit dismissed.

On July 12, BlockFi's bankruptcy administrator and the U.S. Department of Justice (DOJ) reached an agreement to dismiss a lawsuit involving the transfer of $35 million in encryption assets. New Jersey bankruptcy court judge Michael B. Kaplan approved the agreement on Friday. The case originated in May 2023, when the DOJ attempted to seize funds in BlockFi accounts belonging to two Estonian citizens, claiming it was related to a criminal fraud case.

According to the settlement terms, this case is "dismissed and may not be re-litigated," with each party bearing its own legal costs. Notably, BlockFi declared bankruptcy after the FTX collapse in November 2022, currently owing approximately $10 billion to around 100,000 creditors, and has set April 28, 2024, as the deadline for customers to withdraw remaining encryption assets.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Share
Comment
0/400
Layer2Arbitrageurvip
· 07-12 09:59
just another $35m onchain haircut. retail ngmi as usual.
Reply0
GovernancePretendervip
· 07-12 09:42
I don't care about so much; anyway, my coins are all locked.
View OriginalReply0
WagmiOrRektvip
· 07-12 09:42
No innovation, just this little money.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)