Based out of New York, BlockFi is a cryptocurrency financial institution. It was founded in 2017 in order to emulate banks in the cryptocurrency industry. They also offer cryptocurrency-denominated credit cards.
The company operates by lending cash against cryptocurrency collateral and offers bitcoin interest-bearing deposit accounts, with users able to see how much they earned at the end of every month.
BlockFi
As of March 2019, it had permission to lend funds in 47 U.S. states. In March last year, BlockFi accidentally overpaid a bunch of users with some of them getting hundreds of BTC.
That being said, according to recent reports from BlockFi users, some are receiving interest from the coins they never owned, while others said that they still haven’t gotten their interest payment for the month of January.
A bunch of users are also reporting that their interest is not visible on the dashboard. Those who did not get interest payments are frustrated and wondering what is wrong with the platform.
Also, the pending interest seems to be wrong for many. You can read below what some users affected by the issues have to say.
Many BlockFi users went on to say that they are thinking of withdrawing their money and switching to another platform altogether.
After several people complained about the delayed payment interests, BlockFi Support commented on the matter and clarified that they were working on resolving the problem at hand.
However, there is no timeframe on when the issues will be resolved.
We are experiencing delays showing your January 2022 interest payment on your dashboards. Rest assured, your interest has been accrued and we are working diligently to resolve this issue and correctly show the payment on your dashboard. We will provide an update upon resolution.
Until then, affected BlockFi users will have to wait before they are able to cash out their interest payments.
Rest assured, we will be keeping an eye out on the matter and update this space as and when we come across more information so make sure you stay tuned.
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