2 years ago
The bankrupt crypto lending level BlockFi volition supply refunds to California-based customers, according to a March 27 study from authorities regulators.
The Department of Financial Protection said that those users volition person much than $100,000 successful refunds pursuing support from the bankruptcy court.
The regulator said that astatine the clip of BlockFi’s bankruptcy past November, the institution did not pass users successful a timely mode that they nary longer needed to wage loans. This caused customers successful California to wage astir $103,471 to BlockFi’s servicer unnecessarily.
The $100,000 of refunds described supra marque up a precise tiny information of the full magnitude that BlockFi owes to its erstwhile customers. The institution had betwixt $1 cardinal and $10 cardinal of liabilities, according to its earliest bankruptcy filings.
More details to follow…
The station BlockFi volition refund $100K to California users appeared archetypal connected CryptoSlate.
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