Flow Price Plunge Forces Blocto to Shut Down Blocto Wallet, BloctoSwap, and Blocto Cross-Chain Bridge
NEAR/USDT
$241,215,590.64
$2.381 / $2.265
Change: $0.1160 (5.12%)
+0.0066%
Longs pay
According to a formal update, Blocto will wind down core services after five years and serving over 2 million users, as losses widen amid the FLOW price collapse from near $40 in 2021 to below $0.30.
Effective 7 p.m. PST on December 18, 2025, the Blocto Wallet, BloctoSwap, and Blocto Cross-chain Bridge will cease operations, while Blocto-owned node staking remains unaffected. The company cites depleted funds and unproductive talks with Flow/Dapper leadership.
Blocto previously raised an $80 million Series A in February 2023, valuing the company at an estimated $800 million. Backers included Mark Cuban, IPX, and 500 Global, with support for Aptos, Ethereum, Solana, Polygon, Flow, and BNB Chain.
For users and partners, the shutdown highlights funding fragility in multi-network wallets. Blocto notes that efforts to secure a sustainable path since June were unproductive, and total losses exceeded $5.5 million while community services were maintained.