Less than half of international customers of troubled cryptocurrency lending company BlockFi have yet to claim their assets before the impending May 15 deadline, the company revealed in a recent blog post.

Back in November of 2022, BlockFi filed for bankruptcy following the fallout from the collapse of FTX, which had a ripple effect throughout the crypto industry. However, the company managed to come out of bankruptcy and revealed a plan in July 2024 to distribute 100% of the dollar value of customers’ claims from the time of the bankruptcy filing.

While 97% of U.S. customers have already claimed their distributions, only 43% of international customers have done so. The disparity in numbers is partly due to the different processes involved in distributing assets to U.S. and non-U.S. customers, with the latter requiring involvement from courts in the U.S. and Bermuda.

One possible reason for the low number of claimants could be that some customers are mistaking messages from the BlockFi Estate regarding selecting a payment method as spam or phishing attempts. The company has been working with security experts to address these concerns and reassure customers about the legitimacy of the messages.

BlockFi emphasized its commitment to making final distributions to all former customers and urged those who have not yet received their distributions or completed the necessary ‘Know Your Customer’ identity verification process to do so by the May 15, 2025 deadline.

Both U.S. and international customers had to undergo KYC when using BlockFi initially, so this verification process should not be a barrier for those still awaiting their distributions. The verification process, which requires two forms of ID, can be completed in just ten minutes. Once approved, clients can expect to receive their payments within 45 days.

According to bankruptcy laws, any assets left unclaimed by customers after the May 15 deadline will be distributed among other unsecured creditors in the pecking order.