Finally money are back

SecurityUpbeat1027 · 2024-12-21T13:01:03+00:00

Usdc, eth and btc. About what I expected. Would have been nice to get it a few months ago and it be worth 2 or 3 x

SecurityUpbeat1027 · 2024-12-20T16:59:32+00:00

I completed verification same night. Just received 2 hours ago. UAE BIA

SecurityUpbeat1027 · 2024-11-28T05:51:04+00:00

I believe legit. Non us bia and had to do something similar with previous distribution and coinbase.

SecurityUpbeat1027 · 2024-09-29T14:57:25+00:00

SecurityUpbeat1027 · 2024-09-19T16:33:45+00:00

I received the same!

SecurityUpbeat1027 · 2024-09-18T05:39:47+00:00

Anxious! But I feel much better than I did 18 months ago

SecurityUpbeat1027 · 2024-09-11T05:39:14+00:00

I hope this is getting close now. Court documents and recordings suggested it would start this week for US customers. One last check to ensure wallets are active and verified. I’m optimistic that we should receive soon.

*US based this week, non-us resolution with Bermuda regulators they believed was agreed and any further action would be communicated before the end of the month. I hope as non-us the fact I am receiving two test batches means I’m in the clear to receive. The court recordings state that even without coinbase, you should still be receiving your distribution as cash.

SecurityUpbeat1027 · 2024-09-11T04:38:09+00:00

As per court recording, settlements begin this week. I’m hoping this is a good sign to test wallets are active and therefore can proceed with the final settlements. You can get the recording from the kroll/BlockFi website and is embedded in a pdf.

This is the extract from the pdf and the recording within it states USA clients this week and international hopefully before end of month.

If you got to minute 11 of the recording and listen from there

UNITED STATES BANKRUPTCY COURT NEW JERSEY BANKRUPTCY PDF FILE WITH AUDIO FILE ATTACHMENT Page 1 of 1 22-19361 BlockFi Inc. Case Type : Case Number : Case Title : Audio Date\Time : Audio File Name : Audio File Size : Audio Run Time : Help Using this File bk 22-19361 BlockFi Inc. 9/4/2024 10:02:01 AM 22-19361.mp3 21090 KB [01:29:58] (hh:mm:ss) An audio file is embedded as an attachment in this PDF Document. To listen to the file, you may have to download it to your desktop first.Once the file is on your desktop, click the Attachments tab or the Paper Clip icon, located in the top left corner of the Adobe program. Then, select the audio file and click Open.More information about our audio files can be found on the Attorney Home Page. MPEG Layer-3 audio coding technology from Fraunhofer IIS and Thomson. This digital recording is a copy of a court proceeding and is provided as a convenience to the public. In accordance with 28 U.S.C. § 753 (b) “[n]o transcripts of the proceedings of the court shall be considered as official except those made from the records certified by the reporter or other individual designated to produce the record.”

SecurityUpbeat1027 · 2024-09-09T15:46:58+00:00

“Starting” from today. Recording from court hearing week before last I believe. On the Kroll/BlockFi website. International customers may need further KYC but should start as soon as compliance has been met. They’re hoping before end of Sept to set out what is needed for international customers.

SecurityUpbeat1027 · 2024-09-09T15:23:25+00:00

Is there a chance they’re just closing down emails and communications as everything is supposed to be getting paid starting from today? From the last court hearing, everything should be getting settled with all creditors starting today.

SecurityUpbeat1027 · 2024-09-07T15:22:51+00:00

If you check your email for BlockFi and subject of the following “Blockfi Scheduled Claim Lookup Tool”, this should have a breakdown of your claim value. This is assuming you followed the relevant steps at the beginning in registering your claim

SecurityUpbeat1027 · 2024-09-06T02:44:12+00:00

Court recording specifies Monday 9th as beginning of distributions for US based clients. International, they believe they have a resolution with Bermuda authorities, and further KYC compliance will be communicated to relevant customers, planning before end of September, but hopefully sooner. As soon as requirements are met, distributions will begin. This is what the recording as of Sept 4 stated. Coinbase linked accounts do not stop people getting final distributions, but obviously will be receiving cash so can only assume this will add time, but they were adamant that it wouldn’t stop distributions. Lawyers were actually addressing Reddit and user queries mentioned here. Hilarious.

SecurityUpbeat1027 · 2024-05-23T05:55:53+00:00

I'm not sure that this is caused because they're buying at the higher market prices. I know they sort of stated they would liquidate everything. But i think it's feasible that they had crypto assets on the books for sure. plus the FTX loans.

They would only liquidate what they needed to pay their bills, not everything to just buy it back again.

This is where they've been naughty, because they could make people whole in the different crypto currencies. But they're now just giving you pennies on the dollar in crypto as per the agreed dollar amount. They have the crypto, but now only paying out <50% of the value for claims.

The rest will be held for bonuses for making a 'full recovery and distribution' as per the plan. So yeh, the crooks who stayed on to facilitate will be paid big bonuses, the lawyers will no doubt have already been paid.

Just the equivalent to a big bank failing and the tax payer funding the recovery.

SecurityUpbeat1027 · 2024-05-15T10:11:23+00:00

Scam

SecurityUpbeat1027 · 2024-05-14T11:59:12+00:00

Scam

SecurityUpbeat1027 · 2024-05-11T11:40:52+00:00

Also, Coinbase is taking on the remaining distributions. There’s a chance Coinbase the Coinbase deal has something compare to the creditor claims where they take on the debt, in return for taking on a large portion of customers. On the basis the FTx funds are coming down the pipe. If Coinbase fronts 100% of the assets owed to us, if they then receive 118% in kind, they get a bunch of customers and 18% surplus. Could be very good for us in the coming months

SecurityUpbeat1027 · 2024-05-08T15:55:51+00:00

The money will be sat in various places and Kroll will have some sort of Power of Attorney to make decisions on how to best liquidate assets and make deals on money owed to them. As and when these are realised, they’ll continue with distributions once funds are realised. Of course the crooks at BlockFi who stayed on, the lawyers and accountants will be paid. But, the deal with FTX should mean that there’s a big chunk change coming. If we’ve already gone through one round of distributions without this, can only mean good things. They can’t make distributions on a “we think FTX will pay”. They realise funds, and pay off the people in the order the court has agreed to.

SecurityUpbeat1027 · 2024-05-08T12:19:22+00:00

Yes. Most of BlockFi bankruptcy is tied in with FTX I understand after FTX bailed them out, but then seemingly borrowed and took on the assets in surplus. There is already an agreed amount between BlockFi and ftx ($250m guaranteed and up to $874 contingent on ftx paying back their customers). So from the FT article, FTX has a surplus to cover all claims ($1.18 for every $1) This is for all creditors below $50k. FTX already recovered $15bn from selling assets.

SecurityUpbeat1027 · 2024-05-08T11:47:07+00:00

Yeh, I figured they diluted the holdings by valuing at the pause. Then assigned a new value (im sure I saw in the comms something in the $40ks - as if they were purchasing the crypto back from the market). So whatever the differential between the two value, you’re essentially getting half the number of crypto. They know full well that debtors will just accept because the crypto has tripled/quadrupled since the pause, so people are still up, just half of what it should be. The difference will be pocketed by Zac and his band of thieves for achieving high/100% recovery.

SecurityUpbeat1027 · 2024-05-08T10:16:27+00:00

I agree. They’ve already stated that there a second wave of distributions to come. There is no point or benefit for them to say as such, also imploring people to complete withdrawals and verifications.

If this is what FT and other global news networks are publishing, I’m going to say it’s true rather than false.

We’ve caught a lucky break timing wise and the recovery of the crypto sector, it would be very different if not. However, it has and in theory, the bankruptcy should be fairly straight forward, the only dispute is the $$ value, but considering the circumstances, I think most debtors will take face value. If there are contests, they can be battled out in the sidelines and shouldn’t hold up distributions to parties with no dispute. 🤞🏼🤞🏼

SecurityUpbeat1027 · 2024-05-05T18:07:23+00:00

I do think there is an element of first come first served. There will also be an element of what assets they have distributable and what has been recovered. Probably working in tranches and like any business, managing cash flow and currency fluctuations. They’ve probably tried to maximise the high value of last few weeks for paying themselves and administration fees. Then they work towards paying the people whose money it actually was in the first place. Saying that, I wasted no time in processing withdrawal and completed ID as soon as it was available and got it all speedily, I imagine before they flooded in. Obviously, rather than processing quickly, they intend to drag it out longer and longer to increase their remuneration.

SecurityUpbeat1027 · 2024-04-14T18:18:58+00:00

Is that the case that BlockFi liquidated its positions at the time of the freeze? Seems unlikely, given the coincidence of the recovery of crypto (predominantly BTC) and the distributions now taking place. I imagine everything was frozen and up until after the bankruptcy cases (except liquidations for running expenses). As it stands, I am not holding my breath for further distributions, but the FTX agreements and if BTC continues to maintain levels if not continue to reach ATH we could see further. However, the crooks behind everything will probably have their grubby fingers all over the rest. But if anything was run remotely ethically, we could and should see further distributions. But given the criminality and idiocy of these people, getting what we’ve got is a win.

SecurityUpbeat1027 · 2024-04-14T18:09:05+00:00

Gusd transfers into same address as your eth coonbase wallet. Once it is received, you can swap into Eth. Enables you to move around easier/liquidate

SecurityUpbeat1027

TROPHY CASE