- This is according to an email to customers
- The platform is now testing a new transfer system
Cryptocreditor BlockFi, which is going through bankruptcy proceedings, has given new information regarding debt repayments to customers. The company said in an email.
On June 9, the Bermuda Supreme Court issued an order allowing the platform to resume withdrawals for customers with BlockFi Wallet accounts.
The platform also updated the user interface. It will now more accurately reflect user transactions, account balances, and some other information.
BlockFi is now finalizing preparations and the necessary tests to have some customers get their assets back this summer.
“We will be able to begin allowing customers to withdraw digital assets stored in BlockFi Wallet accounts that are not subject to potential preference requirements within this time frame.”
The company added that it will accrue funds gradually. Customers who qualify will be notified via email. They also recommended that users set up a third-party withdrawal wallet.
BlockFi had previously planned to reorganize the company and restart the business. But in May, the cryptocurrency lender withdrew such a statement. Now they are focused on payments to clients and settlements with investors. The company is involved in several legal disputes and blames its bankruptcy on the FTX exchange.