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Important Account Security Reminders from BlockFi


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As we shared last month, BlockFi is currently in the process of preparing our platform to facilitate withdrawals from BlockFi Wallet accounts. We expect that these updates will be completed in the coming weeks. Shortly thereafter, we will begin opening withdrawals for eligible clients. Through this process, it is our top priority to make distributions as quickly, efficiently, accurately, and safely as possible.

As we get closer to opening withdrawals for certain BlockFi clients in accordance with the Wallet Order [Docket No. 923] entered by the Court, we urge you to remain vigilant as we anticipate an increase in phishing emails and scams. Phishing is a common way for scammers to target you for sensitive information. Scammers may reach out to you on social media platforms pretending to be BlockFi or a BlockFi team member.

BlockFi will only contact you directly through our official BlockFi channels (e.g., @BlockFi on Twitter or through the BlockFi app) or via our claims agent, Kroll ([email protected]), and we will never ask for your password or personal information over social media. If you receive communication outside of these channels, do not engage.

To ensure your account remains protected, we encourage you to take the following steps:
  • Two-Factor Authentication: Ensure your two-factor authentication, or 2FA, is enabled on your BlockFi account. To turn on 2FA, please log in to your BlockFi account through the web app and visit the Security page within your Profile Settings. Under 'Two-Factor Authentication,' click 'Enable 2FA' and follow the instructions to set up your 2FA via the Authenticator app. For instructions on how to reset your 2FA, click here.
  • Turn on Allowlisting for BlockFi: Allowlisting is a security feature which, when enabled, only allows you to withdraw from your BlockFi account to addresses that have been saved in your Wallet Address Book. We recommend all clients take this action as it significantly reduces the risk of impact to your account by a bad actor. You can find instructions on how to turn on Allowlisting here.
We will continue to provide additional information about the withdrawal process as updates become available.

BlockFi
Please note that, as set forth in the Terms of Service, BlockFi is not responsible or liable for any claims, costs, losses, harms, or damages, including the permanent loss of cryptocurrency resulting from any user error, third-party error, or other unforeseeable operational or technical difficulties that may arise in the withdrawal process, including, without limitation, if any digital assets become irretrievable or unrecoverable due to, among other things, (a) subject to applicable law, users’ accounts and/or passwords being hacked or compromised, (b) users providing BlockFi with incorrect or invalid external wallet addresses and/or blockchain network, or (c) events that are beyond BlockFi’s reasonable control, including the acts or omissions of third parties, natural disaster, emergency conditions, disease epidemics/pandemics such as Covid-19, government action, equipment or communications malfunction.
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