Cryptocurrency lender BlockFi is asking the court to unlock user accounts and their assets held in the service’s blocked crypto wallets.
In a petition filed December 19 in the United States Bankruptcy Court for the District of New Jersey, BlockFi is asking the court to allow users to withdraw funds from cryptocurrency wallets blocked since the platform was suspended on November 10.
In addition, the crypto lender seeks permission from the judiciary to update the user interface to correctly reflect transactions at the time the platform was suspended.
“We believe that customers holding digital assets in their BlockFi wallet accounts should have the right to withdraw them,” says in a service request.
BlockFi draws the court’s attention to the fact that these actions are targeted and will not automatically unlock withdrawals or transfers from BlockFi interest-bearing accounts. According to media reports, a hearing to decide whether BlockFi’s petition is granted is scheduled for January 9.
At the end of November, a BlockFi lawyer said that the bankrupt cryptocurrency exchange FTX and related company Alameda Research owed the crypto lender more than $1 billion.
Source: Bits
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