BlockFi — Updated Status & Access (2025)

What "login" or account-access to BlockFi means now — for past users, creditors, and claimants.

What Was BlockFi?

BlockFi was a major cryptocurrency lending and interest-earning platform, founded in 2017.

It offered services like crypto deposits, interest accounts, loans, and withdrawals — functioning similarly to a bank for digital-asset holders.

Collapse, Bankruptcy & License Revocation

In November 2022, BlockFi filed for Chapter 11 bankruptcy protection following severe exposure to the collapse of another major crypto exchange.
Regulators took action: In 2024, the California Department of Financial Protection and Innovation (DFPI) permanently revoked BlockFi's lending license under California's financing laws.
As a result of bankruptcy and license revocation, BlockFi shut down its web platform in May 2024 — normal account login, withdrawals, lending, and interest-account features ceased.

What's Happening Now — Claims & Distributions

Although the original platform is defunct, the closure does not mean all customers lost everything. Here's how recovery and distributions are being carried out:

After emerging from bankruptcy proceedings in late 2023, BlockFi's plan administrator initiated a process to reimburse customers and unsecured creditors by monetizing claims against debtors.
In 2024-2025, distributions began. For many clients, assets previously held at BlockFi (wallet balances) were returned; others with interest accounts or loan exposure were to be compensated via the claims process.
A settlement was reached to fully satisfy "allowed claims," meaning that (for eligible customers) the administrators aim for a near-full recovery of asset value.
As of April 2025: ~97% of U.S. claimants have completed their distribution process; but only ~43% of non-U.S. customers have claimed or received their distributions. A deadline (May 15, 2025) was given to claim remaining assets.
Distributions are being processed via partner mechanisms (including crypto exchange payouts or cash reimbursements), not via a BlockFi platform login — meaning former users cannot "log in" to trade or use BlockFi anymore.

So — What Does "Login" Mean Today?

Because BlockFi no longer operates as a live crypto-service platform, "login" no longer refers to a functioning user dashboard. Instead, it refers to the limited process of:

Accessing communications or claims-processing portals (if eligible as a creditor).
Completing identity-verification (KYC) or payout-option selection when requested by the Plan Administrator or their agents.
Submitting distribution preferences (cash or crypto via a partner like Coinbase) — for those who haven't yet claimed their funds.

There is no live wallet, no active lending or interest-account service, no withdrawals or deposits — the old BlockFi "account login → wallet dashboard → transaction" flow is permanently discontinued.

Important Timeline & Deadlines

Nov 2022

Chapter 11 Bankruptcy Filed

BlockFi filed for bankruptcy protection following severe exposure to the collapse of another major crypto exchange.

Late 2023

Bankruptcy Plan Confirmed

Court confirmed BlockFi's bankruptcy plan; company began winding down and preparing distributions.

May 2024

Platform Shutdown & License Revocation

BlockFi web platform shut down; California regulators permanently revoked lending license.

2024–2025

Distributions Begin

Periodic distributions and claims-processing underway with aim for full reimbursement of eligible claims.

May 15, 2025

Final Deadline

Deadline for non-U.S. customers to claim distributions before assets are redistributed.

If You Were a BlockFi User — What You Should Do

Check your email registered with BlockFi: if you have received any communication from the Plan Administrator or payout-partner, follow their instructions carefully (KYC, payout preference, etc.).
If you are non-U.S. customer and haven't claimed your distribution — act before the deadline. Unclaimed assets may be lost or redistributed.
Beware of phishing: any site claiming an "active BlockFi login dashboard" or "deposit/withdraw crypto now" is fraudulent. The company is defunct — there is no such login portal.
Keep records of previous holdings, transaction history, correspondence — these may help if there are further distribution phases or legal-claims processes.
Prefer official channels: real communications come from the Plan Administrator, their legal representatives, or officially disclosed distribution partner (e.g. Coinbase) — not random emails or unknown websites.

Conclusion — BlockFi in 2025: Closed, Winding-Down, Not Live

BlockFi's days as a living crypto-service platform are over. The "login page" and wallet dashboard you once used no longer function. What remains is a winding-down process — aimed at redistributing assets and compensating eligible customers/creditors. For those who acted on time, recoveries are possible; for others — the window may be closing. If you receive any login prompts or investment-offers in BlockFi's name now, treat them as suspicious.

If you had assets on BlockFi — act quickly, follow official instructions, and stay alert for scams. Your vigilance can make the difference.

Important Security Notice

Be extremely cautious of any website or email claiming to offer BlockFi services. The platform is permanently closed. Only trust official communications from court-appointed administrators or established partners like Coinbase for distribution claims.