River Financial sues Blockstream Services Canada for $6.7 million

  • River Financial sued Blockstream Services Canada ULC over an alleged termination-agreement breach.
  • River seeks $3.55 million in refunds and a $3.15 million early-termination payment.
  • Blockstream Corp said the services businesses left its control in mid-2024.

River Financial sued Blockstream Services Canada ULC in the Northern District of California on Sept. 11, 2026, seeking about $6.7 million over an alleged breach of a termination agreement. River says the agreement required $3.55 million in prepaid refunds and a $3.15 million early-termination payment. Blockstream Corp, led by Adam Back, said on Sept. 26 that its U.S. and Canadian services businesses had left its ownership, control and management in mid-2024, while continuing to use the Blockstream name under a limited brand-licensing arrangement. The businesses were spun out as part of Blockstream Mining, whose public separation was announced in April 2025. The dispute follows the Sept. 6 Liquid Network breach, in which nearly 4,000 BTC was siphoned from the protocol; attackers returned 3,400 BTC but have not returned nearly 600 BTC. A subsequent technical assessment outlined stricter remediation standards, regular code reviews, adversarial testing and an expanded bug bounty program, but gave no timetable for restoring L-BTC-to-BTC peg-outs.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.