Crypto trading platform BlockFills has filed for Chapter 11 bankruptcy following the suspension of withdrawals and deposits. The company cited market volatility and financial strain as key factors.
On March 15, BlockFills’ parent entity, Reliz Technology Group Holdings Inc., and three affiliates filed voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware. The filings seek joint administration to streamline the process.
The firm reports assets between $50 million and $1 billion, with liabilities ranging from $100 million to $500 million. It anticipates 1,000 to 5,000 creditors. The top 30 unsecured claims exceed $119 million, mostly from customer accounts.
Largest claimants include 007 Capital LLC with $17 million, the Richard E Ward Revocable Trust at $9.4 million, and Artha Investment Partners LLC at $6.9 million. K&H Crypto LLC holds 17% equity, while two unnamed investors each hold 25%. Institutional backers include CME Ventures, Susquehanna, and P3K LLC.
BlockFills processed over $61 billion in trading volume in 2025 and serves around 2,000 institutional clients. It had been planning restructuring after significant losses and a lawsuit alleging mismanagement of client funds.