BlockFi Urges Creditors to Claim Their Funds Before May 15 Deadline

 Majority of Non-U.S. Customers Yet to Claim Their Distributions

With the deadline fast approaching, BlockFi is calling on creditors—especially non-U.S. customers—to step forward and claim their funds. Despite 97% of U.S. customers successfully retrieving their assets, only 43% of non-U.S. customers have done the same, raising concerns about unclaimed distributions.

Key Highlights:

• BlockFi customers have until May 15, 2025, to claim their assets, as stated in the company’s official blog post.

• While U.S. customers have swiftly completed their claims, less than half of international users have followed suit.

• Unclaimed funds after the deadline will be redistributed among unsecured creditors, per bankruptcy regulations.

BlockFi’s Journey Through Bankruptcy

BlockFi, once a prominent crypto lending platform, filed for bankruptcy in November 2022 following the FTX collapse, which sent shockwaves across the industry. After months of restructuring, the company emerged from bankruptcy in 2024, unveiling a plan to return 100% of the dollar value of customer claims based on the valuation at the time of bankruptcy filing.

Despite an efficient claims process for U.S. customers, international customers have faced delays due to legal proceedings involving both U.S. and Bermuda courts. However, BlockFi assures users that all necessary steps have been taken to streamline the distribution process for non-U.S. customers.

Why Are Customers Hesitant to Claim?

One major reason for the low response rate from non-U.S. users is skepticism over legitimacy. Many customers mistakenly believe that BlockFi's outreach emails regarding fund distribution are phishing attempts. To counter this, the company has collaborated with cybersecurity experts to verify the authenticity of its communications.

How to Claim Your Funds

BlockFi is urging all eligible users to complete their Know Your Customer (KYC) verification, which is mandatory for finalizing claims. The process is simple and takes around 10 minutes, requiring two forms of identification. Once completed and approved, customers can expect to receive their funds within 45 days.

“BlockFi is committed to ensuring all former customers receive their rightful distributions,” the company emphasized. “We strongly encourage anyone who hasn’t completed the process to do so before May 15, 2025.”

What Happens to Unclaimed Assets?

According to bankruptcy regulations, any assets left unclaimed after the deadline will not remain in limbo. Instead, they will be redistributed among lower-tier unsecured creditors, potentially resulting in a total loss for customers who fail to claim in time.

With the deadline drawing near, BlockFi customers—especially those outside the U.S.—should act swiftly to secure their funds before it’s too late.