BlockFills files for Chapter 11 bankruptcy with $100–500M in liabilities after suspending withdrawals in February and facing asset freeze allegations.
DeFi & Yields ·
BlockFills, operating as Reliz Ltd, filed for Chapter 11 bankruptcy in Delaware, disclosing assets between $50–100 million against liabilities ranging from $100–500 million. The crypto trading and lending firm sought restructuring after suspending customer withdrawals in February and encountering an asset freeze connected to allegations of asset misappropriation by Dominion Capital. The company counted Susquehanna and CME Group's venture arm among its backers and processed over $61 billion in trading volume during 2025.
The bankruptcy filing represents an escalation following weeks of operational disruption. Withdrawal suspension preceded the formal insolvency petition, signaling mounting liquidity pressures before the filing became public. The asset freeze and misappropriation allegations appear to have accelerated the firm's path toward restructuring.
The scope of BlockFills' liabilities—potentially five times its stated assets—underscores the scale of creditor exposure. Whether the Chapter 11 process will preserve going-concern operations or facilitate asset liquidation remains undetermined, as does the ultimate recovery available to depositors and other stakeholders.