Finblox closed due to inability to cash deposits, over $45 million in deposits may have been transferred

Foresight News reported that Finblox, a cryptocurrency revenue platform launched in 2021, closed on July 7th. Some clients have accused the platform's founders Peter Hoang and Dmitriy Paunin of fraud, transferring jurisdictions to evade regulatory agencies, and attempting to repay former depositors by raising new funds through token sales. Previously, Finblox had issued unsecured loans to Three Arrows Capital, and its loss amount in the default of Three Arrows Capital was not disclosed. The platform token FBX also fell 99% from its high point.