Blocto Wallet announces upcoming shutdown after five years of operation due to ongoing losses

Summary: Blocto Wallet will cease operations on December 18, 2025, after experiencing a significant decline in the FLOW token price, resulting in project losses exceeding $5.5 million. Users are advised to withdraw their assets before the deadline and ensure security.

PANews December 17 — According to an official announcement from Blocto, the wallet service will shut down after five years of operation. The project team stated that since the peak in 2021, the FLOW token price has dropped over 99%, leading to continuous losses, totaling over $5.5 million over five years. Despite attempts since June this year to communicate with Flow/Dapper leadership for sustainable solutions, no effective response or meeting opportunities have been received, and current operational funds have been exhausted.

Blocto Wallet, BloctoSwap, and Blocto Teleport services will officially close at 7:00 PM PST on December 18, 2025. Users must withdraw all liquidity pool assets before the deadline and bridge cross-chain assets back to the original network. For custodial mode users, private keys must be manually exported before this date to switch to non-custodial mode; otherwise, wallet access will be permanently lost. The Blocto staking service will continue to operate, and users can manage their staked assets by importing private keys into other wallets. The team reminds users to be vigilant against scams and never disclose private keys to anyone.

Earlier in 2023, the multi-chain wallet Blocto completed Series A funding at a valuation of $80 million, with participation from Mark Cuban and others.