Blocto, a multi-chain wallet service, has announced its closure after five years due to significant financial losses. The company cited a 99% drop in the FLOW token's value from its 2021 peak, leading to over $5.5 million in accumulated losses. Despite efforts to engage with Flow/Dapper leadership for solutions, Blocto received no response, exhausting its operational funds. Blocto Wallet, BloctoSwap, and Blocto Teleport will cease operations at 7 PM PST on December 18, 2025. Users must withdraw liquidity pool assets and bridge cross-chain assets back to their original networks before the deadline. Custodial mode users need to export private keys to avoid losing wallet access. Blocto's staking service will remain active, allowing users to manage assets by importing private keys to other wallets. The team warns users against scams and advises against sharing private keys.
Blocto Wallet to Shut Down Amid $5.5 Million Losses
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