Other
"BlockFi Offering Employee Buyouts Just One Month After Cutting Staff by 20%"
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
- 2022-07-18 Breach occurred
- 2022-07-18 Publicly disclosed