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BlockFi to provide over $100K in refunds to California clients

Published 03/27/2023, 11:13 PM
Updated 03/28/2023, 01:00 AM

Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year.

According to a March 27 statement from California's financial watchdog, the Department of Financial Protection and Innovation (DFPI), its investigation discovered at least 111 borrowers in California paid back roughly $103,471 in loan repayments between Nov. 11 and Nov. 22.

Excerpt from the DFPI agreement filed in court. Source: DFPI

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