INSUBCONTINENT EXCLUSIVE:
$35 million crypto asset transfer lawsuit involving the crypto lender.The agreement was approved by Judge Michael B
Kaplan of the US Bankruptcy Court for the District of New Jersey on Friday, according to court filings.The lawsuit, filed in May 2023,
sought to transfer over $35 million in crypto assets from BlockFi to the US government
The DOJ said it had warrants to seize the funds from the BlockFi accounts of two Estonian citizens in a criminal fraud case unrelated to
to prevent BlockFi from transferring the assets
The dispute arose during BlockFi's bankruptcy proceedings.A snippet of the lawsuit
stipulation agreed upon by both parties, the case was dismissed with prejudice, meaning it cannot be refiled
estates, represented the crypto firm in the case
The Department of Justice was represented by senior trial counsel Seth B
platform while partnering with Coinbase to help clients withdraw their remaining funds
Eligible users, including those with BlockFi Interest Accounts, retail loans, and private client accounts, can use Coinbase for
withdrawals.The company declared bankruptcy in November 2022 following the collapse of FTX and subsequently set a withdrawal deadline of
sealedBlockFi reaches settlement with FTXIn March last year, BlockFi also reached an $875 million settlement with FTX and Alameda Research
estates, resolving about $1 billion in claims
BlockFi owes approximately $10 billion to more than 100,000 creditors, including major debts to its top three creditors and the bankrupt
hedge fund Three Arrows Capital.Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users
