BlockFi bankruptcy administrator and DOJ agree to dismiss $35M lawsuit

Judge Approves BlockFi Deal to Unlock Seized Crypto Funds

A U.S. judge has confirmed an agreement between BlockFi and Department of Justice. The deal closes a 35 million lawsuit on crypto funds taken away. The money was linked to a fraud scheme of two Estonian citizens. This settlement was concluded in the recent past by U.S Bankruptcy Judge Michael B. Kaplan. In the meantime, the ruling is a unique transnational crypto law determinant. It was later when FTX was leading the market towards discontinuity…

Judge Approves BlockFi-DOJ Deal Over Seized Crypto Funds

Approved by U.S. Bankruptcy Judge Michael B. Kaplan in New Jersey, the settlement resolves a May 2023 lawsuit that stemmed from DOJ efforts to confiscate funds from BlockFi accounts belonging to two Estonian nationals tied to an unrelated fraud case. The DOJ had argued the bankruptcy court lacked jurisdiction to block the seizure. Under the settlement, the case is dismissed with prejudice, meaning it cannot be refiled. Both sides will bear their…

BlockFi Settles DOJ In $35M Asset Dispute As Bankruptcy Winds Down

BlockFi, a failed cryptocurrency lender, has finally reached an agreement with the Department of Justice (DOJ) over a $35 million asset dispute. The agreement resolves a lawsuit over crypto holdings that the DOJ asked to confiscate from BlockFi accounts associated with a fraud probe in Estonia. The two Estonian nationals are under federal investigation in a separate case not related to BlockFi’s bankruptcy. In May 2023, the DOJ filed a lawsuit i…

BlockFi Administrator and DOJ Reach Settlement to Dismiss Disputed Asset Transfer Lawsuit

BlockFi's bankruptcy administrator and the U.S. Department of Justice have reached a settlement to dismiss a $35 million crypto asset transfer lawsuit. Cointelegraph reports Judge Michael B. Kaplan of the U.S. Bankruptcy Court for the District of New Jersey approved the agreement on Friday. The case was dismissed with prejudice, meaning it cannot be refiled.The original lawsuit, filed in May 2023, sought to transfer over $35 million in crypto as…

Crypto News: BlockFi Settles $35M DOJ Lawsuit

The administrator of BlockFi has settled a $35 million crypto asset transfer lawsuit with the US Department of Justice (DOJ).

Crypto News: BlockFi Settles $35M DOJ Lawsuit - Coin Surges

The post Crypto News: BlockFi Settles $35M DOJ Lawsuit appeared first on Coinpedia Fintech News The administrator of BlockFi, a cryptocurrency financial services company, has settled a $35 million crypto asset transfer lawsuit with the US Department of Justice (DOJ). According to Bloomberg, the agreement was approved on Friday by New Jersey Bankruptcy Court Judge Michael B. Kaplan, clarifying judicial boundaries in crypto asset seizures.  BlockF…