Consumer complaint received 2024-10-27
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: BlockFi Inc (GA)

U.S. Securities and Exchange Commission ( SEC ) Office of Investor Education and XXXX XXXX XXXX XXXX XXXX Washington, DC XXXX Consumer Financial Protection Bureau ( CFPB ) Consumer Response XXXX XXXX XXXX XXXX, IA XXXX Office of Foreign Assets Control ( OFAC ) U.S. Department of the Treasury XXXX XXXX XXXX XXXX Washington XXXX DC XXXX XXXX : Due Diligence and Compensation Request for Financial Losses and Privacy Breaches Involving XXXX, BlockFi, XXXX XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX of the SEC, CFPB, and OFAC, I am submitting this formal due diligence request for compensation regarding significant financial losses and privacy breaches tied to my accounts and investments with XXXX, BlockFi, XXXX XXXX ( including XXXX XXXX  ), XXXX XXXX XXXX XXXX, and XXXX XXXX. Given the involvement of OFAC in monitoring and enforcing compliance within financial networks, I am seeking a comprehensive review of these institutions practices as they relate to the security, transparency, and regulation of financial transactions involving my assets. This request highlights interconnected relationships among these entities, with XXXX XXXX  affiliations with XXXX XXXX  and networks such as XXXX and XXXX contributing to considerable financial harm and exposure of my data. I seek regulatory investigation, accountability, and compensation due to this interconnected liability. 

Background and Details of the Due Diligence Request XXXX. XXXX XXXX  and XXXX XXXX  XXXX and XXXX XXXX XXXX  and XXXX XXXX, as key players in the XXXX XXXX, rely on partnerships with XXXX  and XXXX, which directly supported transactions involving my assets. Due to their lack of oversight and inconsistencies in handling end-user funds, I suffered financial harm. XXXX XXXX  partnership with XXXX and XXXX enabled core services but did not meet the required standards for security and due diligence, creating grounds for their liability in my case. 
XXXX. XXXX  and XXXX XXXX  Wind-Down and Financial Impact The termination of XXXX  and XXXX XXXX  services agreement led to significant discrepancies in account balances, impacting millions of dollars for users, including my assets. The Banks decision-making during this period, combined with its lack of clear communication and irregular financial record-keeping, resulted in direct harm. OFACs role in monitoring such compliance is crucial, as this failure implicates XXXX XXXX  in serious regulatory gaps and harm to consumers. 
XXXX. Impact of Compromised Services with XXXX, BlockFi, XXXX XXXX ( XXXX XXXX ), and XXXX XXXX My investments and digital assets within XXXX, BlockFi, XXXX XXXX, and XXXX. XXXX were compromised due to recurring breaches and lack of support from XXXX XXXX, which enabled these transactions through its XXXX and XXXX channels. This interconnected responsibility further ties XXXX XXXX  to my losses, given the lack of consumer safeguards throughout its network. 
XXXX. Unauthorized Data Access and Privacy Breaches Repeated privacy breaches, unauthorized access, and unapproved transactions involving my sensitive information point to inadequate security protocols across these institutions. XXXX XXXX  affiliations and transaction facilitation through XXXX and XXXX reinforce its accountability in protecting consumer assets and data. OFACs oversight on compliance, especially where financial institutions collaborate on high-risk digital transactions,