What is Keyrock acquiring from BlockFills?

Keyrock has agreed to acquire certain assets of bankrupt crypto trading and lending firm BlockFills for $3.25 million, subject to court approval. The deal includes customer relationships, proprietary technology, intellectual property and other operational assets.

Why did BlockFills file for bankruptcy?

BlockFills filed for Chapter 11 bankruptcy protection in March after facing severe financial pressure. Court filings showed liabilities of between $100 million and $500 million, compared with assets of between $50 million and $100 million.

How much is Keyrock paying for BlockFills?

Keyrock agreed to pay $3.25 million for the assets covered under the bankruptcy sale process. The transaction still requires approval from the bankruptcy court and relevant regulators before it can be completed.

Why is Keyrock interested in buying BlockFills?

The acquisition gives Keyrock access to BlockFills' institutional client network, technology and infrastructure. This could strengthen Keyrock's position in institutional crypto trading, lending and liquidity services.

Who are BlockFills' customers?

BlockFills serves institutional clients including hedge funds, asset managers, market makers and cryptocurrency mining companies. The company said it worked with around 2,000 institutional clients before filing for bankruptcy.

How large was BlockFills before its bankruptcy?

BlockFills reported more than $60 billion in trading volume during 2025, representing a 28% increase from the previous year. Despite strong trading activity, the company struggled with liquidity and financial losses.

What happened before BlockFills entered Chapter 11?

The company suspended customer withdrawals and deposits earlier this year while seeking emergency financing or a buyer. Reports indicated that BlockFills suffered approximately $75 million in losses before pursuing bankruptcy protection.

Is this acquisition positive for Keyrock?

The bullish view is that Keyrock is acquiring valuable institutional relationships and technology at a relatively low price. The risk is that integrating assets from a bankrupt company could involve operational, legal or regulatory challenges.

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Keyrock bids for bankrupt crypto lender BlockFills

Written by Brie CarterPublished Jun. 2 2026

Brussels-based digital asset services firm Keyrock has agreed to acquire certain assets of bankrupt crypto trading and lending company BlockFills for $3.25 million, subject to court and regulatory approval.

The proposed transaction would transfer substantially all of BlockFills’ assets, selected liabilities, customer lists, proprietary technology and intellectual property to Keyrock as part of the bankruptcy process.

“We can confirm that, as set out in the official Bankruptcy Court document filed on 26 May 2026, Keyrock SA has been declared the ‘Successful Bidder’ for certain assets of Reliz Technology Group Holdings Inc. and its affiliated debtors,”

Said a Keyrock spokesperson.

The acquisition would significantly expand Keyrock’s institutional reach through access to BlockFills’ network of hedge funds, asset managers, market makers and cryptocurrency mining companies.

A bankruptcy court hearing to approve the sale is scheduled for June 16, with completion of the transaction also dependent on obtaining the necessary regulatory approvals.

BlockFills filed for Chapter 11 bankruptcy protection in March after reporting assets of between $50 million and $100 million against liabilities ranging from $100 million to $500 million.

The company previously disclosed that it had suspended customer deposits and withdrawals while seeking emergency financing or a potential buyer after suffering roughly $75 million in losses.