[Updated] BlockFi January 2022 interest payment delayed or not visible on dashboard issue gets acknowledged, fix in works

New updates are being added at the bottom of this story…….

Original story (published on February 01, 2022) follows:

Based out of New York, BlockFi is a cryptocurrency financial institution. It was founded in 2017 in order to emulate banks in the cryptocurrency industry. They also offer cryptocurrency-denominated credit cards.

The company operates by lending cash against cryptocurrency collateral and offers bitcoin interest-bearing deposit accounts, with users able to see how much they earned at the end of every month.

As of March 2019, it had permission to lend funds in 47 U.S. states. In March last year, BlockFi accidentally overpaid a bunch of users with some of them getting hundreds of BTC.

That being said, according to recent reports (1,2,3,4,5,6,7,8,9,10) from BlockFi users, some are receiving interest from the coins they never owned, while others said that they still haven’t gotten their interest payment for the month of January.

A bunch of users are also reporting that their interest is not visible on the dashboard. Those who did not get interest payments are frustrated and wondering what is wrong with the platform.

Also, the pending interest seems to be wrong for many. You can read below what some users affected by the issues have to say.

Hey uh, there’s something going on that you guys need to look into. People getting paid interest for coins they never owned in Jan. Can attest to this being a real thing.
(Source)

How has @BlockFi not addresses what is going on with interest payments. Clearly a lot of people are confused. ….What is happening? Your about to lose my busienss
(Source)

Many BlockFi users went on to say that they are thinking of withdrawing their money and switching to another platform altogether.

After several people complained about the delayed payment interests, BlockFi Support commented on the matter and clarified that they were working on resolving the problem at hand.

However, there is no timeframe on when the issues will be resolved.

We are experiencing delays showing your January 2022 interest payment on your dashboards. Rest assured, your interest has been accrued and we are working diligently to resolve this issue and correctly show the payment on your dashboard. We will provide an update upon resolution.
(Source)

Until then, affected BlockFi users will have to wait before they are able to cash out their interest payments.

Rest assured, we will be keeping an eye out on the matter and update this space as and when we come across more information so make sure you stay tuned.

04:09 pm (IST): BlockFi Status now says that this issue has been fixed. Moreover, the interest payments have been completed and posted to all client dashboards.

Note: We have more such stories in our dedicated News Section so be sure to follow them as well.

Featured image source: BlockFi

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