Multi-chain wallet Blocto announces shutdown: users must complete asset migration by December 18

2025-12-17 01:06:13

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【ChainNews】Blocto Multi-Chain Wallet officially announces that the service will officially shut down at 7:00 PM PST on December 18, 2025, marking the end of five years of operation.

Why has it come to this? The project team admits that the core reason is that the FLOW token has fallen over 99% from its peak in 2021, which directly led the project into a continuous loss spiral. Over the past five years, the total loss has exceeded $5.5 million, depleting operational funds. Even more painfully, since June of this year, they have repeatedly communicated proactively with the leadership of Flow and Dapper, hoping to find sustainable solutions, but have not received substantive responses or meeting opportunities. Ultimately, they had no choice but to cease operations.

What does this mean for users? You need to complete two key actions before the deadline:

Step 1: Manage liquidity and cross-chain assets. If you have liquidity pool positions in BloctoSwap, you must withdraw all. Assets involved in cross-chain interactions via Blocto Teleport must also be bridged back to the original network before December 18.

Step 2: Properly handle your wallet private keys. There are two scenarios here—if you are using a custodial mode (private keys managed by Blocto), you must manually export your private key and switch to non-custodial mode before shutdown; otherwise, you will permanently lose access to your wallet. Non-custodial users are relatively safer, but it is also recommended to actively import your private key into other wallets for management.

However, there is good news: Blocto’s staking service will continue to operate, so you don’t need to rush to unstake. You can import your private key into other wallets and continue participating in staking.

Finally, a reminder: during the shutdown period, scammers will be especially active. Be sure to beware of any requests asking you to share your private key. No one (including the official team) has any reason to ask for your private key.

FLOW-0.51%

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0xSherlock

· 12-19 23:04

Another disappointing project, FLOW should have been mentally prepared. Who can withstand a 99% drop? --- Losing $5.5 million in five years, is this the attitude of Dapper and Flow? Truly incredible. --- Quickly transfer your assets out, don’t wait until the last moment to panic. --- So this is called "sustainable development," I laughed. --- Large players might be feeling a bit anxious now, as transfer fees will be gouged again. --- A typical case of being abandoned by the ecosystem, the Flow ecosystem is really a bit useless. --- Running away? No, they are openly shutting down, at least they gave some time. --- Multi-chain wallets already face fierce competition, projects with insufficient funding are doomed to fail. --- Wait, are user assets safe? Can they really be fully migrated out? --- This is the crypto world, a night back to the pre-liberation era.

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SnapshotDayLaborer

· 12-19 23:01

Another project has died, losing 5.5 million over five years, and even ignoring its own backers... This is crypto. --- FLOW dropped from 99% high, basically because they chose the wrong track. Who's to blame? --- If you haven't migrated out before December 18th, you better pay attention. Don't be clueless when your assets run away. --- Send a razor blade to the founder of Flow. When facing difficulties, they refused to communicate and just left people hanging. Truly ruthless. --- Five years of effort resulted in this... It's a bit unfortunate, but it's also a market choice.

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AllInDaddy

· 12-19 02:50

Another project in the FLOW ecosystem is about to die, with a $5.5 million loss causing a complete breakdown. Dapper remains silent, truly heartless. Isn't this just a microcosm of the crypto world? Unable to sustain itself with tokens, no one cares even if you ask for help. Hurry up and run, or you'll regret it when your assets are frozen. This public chain FLOW is really beyond saving, as the ecosystem is all fleeing in different directions. I still have LP positions in BloctoSwap. I need to withdraw them before December, or I'll have to pay gas fees again—so annoying.

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GateUser-7b078580

· 12-18 16:53

A 99% decline... Data shows this is a death spiral. After burning through $5.5 million, no one is paying attention anymore, but this model should have collapsed long ago.

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AirdropHunter420

· 12-17 01:36

Oh no, another project has died. The fall of FLOW from heaven to hell is truly incredible. --- $5.5 million burned and no one to rescue, this is the reality of Web3. --- Dapper and Flow leadership haven't even had a face-to-face meeting; it must be incredibly hopeless to last five years. --- Hurry up and run away. Before December 18th, you need to move your assets out, which means another hassle. --- A 99% decline and still able to operate for five years is already impressive, much more conscientious than some projects. --- That's why I don't touch small coin wallets; they're too unstable. --- Wait, is Blocto really gone? What about my liquidity position... --- A typical aftermath of an ecosystem coin crash. How did Flow's public chain become so dead? --- Five years of losses totaling 5.5 million, averaging 1.1 million per year. The rate of burning money is quite steady. --- Need to migrate assets again, so annoying. These days, wallet scams happen as often as eating.

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RooftopReserver

· 12-17 01:36

Another project crushed by the falling coin price... FLOW has dropped 99% from its peak. Who can withstand this? A $5.5 million gap can't be filled, and they really have to shut down.

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MEVEye

· 12-17 01:35

Flow this time really disappointed, causing Blocto to die a painful death --- $5.5 million burned... This is the fate of projects without support from parents --- Dapper doesn't care about people, no wonder Blocto can't hold on, Web3 is like this --- Before December 18th, we must rush to run away, and then tinker with the wallet again --- A 99% drop, honestly, it should have gone bankrupt long ago, surviving five years is already good --- No one is helping with self-rescue, this is the liquidity dilemma, wake up --- Cross-chain asset migration is coming again, when will it finally stop --- 5 years, $5.5 million... What about the investors? Just let it rot like this?

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FortuneTeller42

· 12-17 01:19

Another project team got sold out. FLOW is really useless to the core.

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TokenomicsDetective

· 12-17 01:18

Oops, another project has collapsed. What's going on with the Flow ecosystem? Hurry up and run, everyone. Don't get stuck inside. Losing 5.5 million and holding on for 5 years—how strong must your heart be? Does the Flow leadership really have no one to oversee them? Abandoning responsibility like this is too ruthless. You must take action before December 18th, or your assets might be gone.

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HorizonHunter

· 12-17 01:06

Sigh, another project has failed. It feels like the FLOW ecosystem hasn't had a moment of peace in the past two years... $5.5 million burned through and no one cares, that's the most outrageous part.

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