U.S. Judge Issues Temporary Restraining Order Against BlockFills, Freezing 70.6 BTC and Other Disputed Assets

BlockBeats News, March 6th: A U.S. federal judge issued a temporary restraining order against the crypto lending institution BlockFills, temporarily freezing its disputed assets. Dominion Capital filed a lawsuit on February 27th, accusing BlockFills of misappropriating and unlawfully withholding customer crypto assets worth millions of dollars, commingling customer assets and concealing significant losses, and refusing to return them after suspending withdrawals from the BlockFills platform in February. The frozen amount is 70.6 BTC, and it has prevented BlockFills from transferring the assets overseas.

The struggling crypto lending institution BlockFills recorded a $75 million loss and suspended user deposits and withdrawals on February 11th. The company, headquartered in Chicago, serves around 2,000 institutional clients, with a trading volume of $60 billion expected in 2025, and is currently seeking a buyer.