The statistics reveal a stark contrast in the recovery of assets by BlockFi customers following the firm’s bankruptcy. A significant 97% of U.S. customers have successfully claimed their distributions. In contrast, only 43% of non-U.S. customers have received theirs. BlockFi, which filed for bankruptcy in November 2022, announced a plan in July 2024 to return 100% of the dollar value of customer claims at the time of filing. The deadline for claiming these assets is May 15, 2025. The lower claim rate among non-U.S. customers may be due to the complexity of international distribution arrangements, which involved courts in both the U.S. and Bermuda. Additionally, some customers might mistake legitimate communications from BlockFi as spam or phishing attempts. To claim their assets, customers must complete a Know Your Customer (KYC) identity verification process, which takes about ten minutes and requires two forms of ID. Once verified, payments are processed within 45 days. Unclaimed assets will be redistributed among other unsecured creditors.
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