BlockFi filed for Chapter 11 bankruptcy on November 28, 2022, just weeks after the FTX collapse that triggered its downfall. The company had significant exposure to FTX through credit facilities and deposits. Creditors with funds on BlockFi are entitled to participate in the bankruptcy distribution process.
Who Is Affected by the BlockFi Bankruptcy?
If you had any of the following on BlockFi at the time of filing, you are a creditor:
- Crypto in a BlockFi Interest Account (BIA)
- Crypto in a BlockFi Wallet
- Outstanding BlockFi loan collateral
- Funds in BlockFi Yield or other products
BlockFi Wallet accounts and BIA accounts have different treatment in the bankruptcy. Wallet holders generally have stronger claims as their assets are treated more like held property. BIA holders are treated as unsecured creditors, meaning they receive a lower priority in the payment waterfall.
Step 1: Check If You Already Have a Claim Filed
BlockFi's bankruptcy is administered by Kroll Restructuring Administration — the same firm handling the FTX case. Go to the Kroll portal and search using your BlockFi registered email address.
The estate may have auto-filed a scheduled claim on your behalf based on account records. Check this before assuming you need to file from scratch.
Step 2: File or Supplement Your Claim
- 1Go to restructuring.ra.kroll.com/BlockFi and log in or create an account
- 2Search for your scheduled claim using your email
- 3If your scheduled claim amount is wrong, file a proof of claim to correct it — bring screenshots or transaction records
- 4Complete identity verification when prompted
- 5Monitor the portal for distribution announcements and complete any additional steps required
What Is the Expected Recovery Rate?
BlockFi's recovery rates depend on account type and the outcome of litigation against FTX, which was a major creditor of BlockFi at the same time BlockFi was a creditor of FTX. The FTX estate's large distributions to BlockFi (as an FTX creditor) flow through to BlockFi's own creditors.
Recovery estimates for BlockFi creditors have varied widely. Wallet holders have generally been projected to recover a higher proportion of their assets than BIA holders. Consult the BlockFi plan documents on the Kroll portal for the current recovery projections for your claim class.
What Is the Distribution Timeline?
BlockFi distributions have been proceeding in stages, tied partly to the resolution of BlockFi's own claims against FTX. As FTX distributions occur, funds flow to BlockFi's estate, enabling further distributions to retail creditors. The timeline for complete distribution is multi-year.
Watch out for BlockFi recovery scams. Several fraudulent "claim recovery" services have appeared targeting BlockFi creditors, offering to accelerate or increase distributions in exchange for fees. These are scams. All legitimate BlockFi communications come through the Kroll portal or to your registered email.
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Start Free Search →Frequently Asked Questions About BlockFi Claims
Has BlockFi finished paying out creditors?
BlockFi's bankruptcy estate confirmed in mid-2025 that it had recovered sufficient assets to pay 100% of allowed customer claims, including post-petition interest. The estate has been distributing funds through the court-approved BlockFi claims portal. If you have not yet received payment, the most common reason is that KYC (identity verification) was not completed, or that your wallet address submission is pending review. Log in to the claims portal at restructuring.ra.kroll.com/BlockFi to check your current status and complete any outstanding steps.
How were BlockFi claim amounts calculated?
Allowed claim amounts are based on the US dollar value of your BlockFi account balance as of November 28, 2022, the date BlockFi filed for Chapter 11 bankruptcy protection. If you held Bitcoin, Ethereum, or other cryptocurrencies on BlockFi, their dollar value at that date was used — not the current market value. Post-petition interest (additional amounts added by the bankruptcy plan) was calculated separately and added on top of the base claim value.
What if I never received an email about my BlockFi claim?
It is possible your claim was associated with an email address you no longer actively check, or that notification emails went to your spam folder. Go to restructuring.ra.kroll.com/BlockFi and attempt to log in using your original BlockFi account email. If you cannot access that email, there is an identity recovery process that allows you to verify yourself using a government ID and submit an alternative contact. If you are unsure whether you had a BlockFi account, you can search for claims using your email or name through the Kroll claims portal.
Can I still file a BlockFi claim in 2026?
The deadline to file a proof of claim in the BlockFi bankruptcy has passed. However, if you had an account at the time of the bankruptcy filing (November 2022) and your claim was automatically recognised through BlockFi's own records, you may still be able to complete your claim by finishing KYC and adding a payment wallet address. You cannot file a new claim if you missed the original bar date unless the bankruptcy court grants a late-claim exception. Check the BlockFi bankruptcy docket on PACER (pacer.gov) for the most current status of distributions.
What if I had a BlockFi credit card — is that covered by the bankruptcy claim?
BlockFi credit card rewards (BlockFi Rewards Points) and any outstanding statement credits may be subject to a separate claims process from your BlockFi Interest Account or Wallet balance. Credit card claims are treated differently because the card product had a distinct legal structure. Check the Kroll claims portal (restructuring.ra.kroll.com/BlockFi) for guidance on credit-card-specific claims. If your BlockFi Wallet held USDC or other assets pledged as a credit card security deposit, those assets may also be part of a separate claims class. Review the confirmed plan documents on the Kroll portal for the complete details on each claims category.