BlockFills collapse — what creditors were owed and recovered (2026)

BlockFills was a Chicago-based institutional crypto brokerage, liquidity provider and lender operated by Reliz Ltd. In February 2026, amid rising client redemptions during a broad crypto downturn, it suspended deposits and withdrawals on 11 February. It later told clients that lending, trading and mining activity had left a balance sheet shortfall of about US$77 million as of the end of 2025, with reported losses in the US$75 million to US$80 million range.

Reliz Ltd. and three affiliated entities filed voluntary Chapter 11 petitions in the District of Delaware on 15 March 2026, case number 26-10371 (TMH), proposing a customer-led reorganisation into a new entity. The petition listed estimated assets of US$50 million to US$100 million against estimated liabilities of US$100 million to US$500 million; that band covers all liabilities, not only client claims.

Dominion Capital alleged in litigation that BlockFills misappropriated and commingled customer crypto assets, concealed losses and refused to return funds after suspending withdrawals, and obtained an order freezing bitcoin. Those are allegations in a civil suit and have not been adjudicated. No criminal charges have been reported.

A Delaware bankruptcy judge approved the sale of the trading business, customer relationships and intellectual property to Belgian firm Keyrock for US$3.25 million on 16 June 2026, ahead of a plan confirmation hearing.