Other

"BlockFi Offering Employee Buyouts Just One Month After Cutting Staff by 20%"

2022-07-18 [vendor] BlockFi layoffs
Primary Source ↗
Affected 170 individuals/accounts

Incident Details

The cryptocurrency lender BlockFi is reportedly offering employees buyouts — sorry, a “voluntary separation program” — in an effort to reduce their headcount even further. Those employees receive 10 weeks of paid leave, 10 weeks of continued health insurance, and unemployment eligibility if they resign.The move came only a month after BlockFi laid off 20% of their employees, or around 170 people. The company appears to be struggling to stay afloat, soliciting $400 million in loans from Sam Bankman-Fried’s FTX crypto exchange and signing a deal with FTX that gives the exchange the opportunity to acquire them.

Technical Details

Initial Attack Vector
Protocol collapse / insolvency
Vendor / Product
BlockFi layoffs

Timeline

  1. 2022-07-18 Breach occurred
  2. 2022-07-18 Publicly disclosed