BlockFi collapsed after FTX, which had become its rescuer and counterparty, failed
BlockFi · Crypto lender (private)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Third-party confirmation
Would have confirmed assets held at FTX directly.
Can mislead when: Counterparties can collude or ignore requests. A non-response is logged as a gap, never as a pass.
Regulatory & litigation records
Would have flagged the earlier regulatory settlement.
Can mislead when: Court records lag and name spellings vary. A clean record can mean the problem has not reached court yet.
Operating-metric verification
Would have measured exposure to one counterparty.
Can mislead when: Contract staff do not appear in EPFO. Vahan access needs licensed APIs. Some businesses have no physical trace.
Where Kubr services would have helped
Valuation context
Offered in India- C8 Would have flagged the earlier regulatory settlement.
Portfolio monitor
Offered in India- C8 Would have flagged the earlier regulatory settlement.
- C10 Would have measured exposure to one counterparty.
Verified Snapshot
Offered in India- C8 Would have flagged the earlier regulatory settlement.
Financial diligence
Offered in India- C10 Would have measured exposure to one counterparty.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.