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Blocto to Shut Wallet, Swap, and Bridge Services After $5.5M Losses

According to Blocto’s announcement, the services will end on Dec. 18, 2025, after FLOW token’s collapse and failed talks with Flow/Dapper to secure operational support.

FLOW

Summary

In an official announcement, Blocto stated it will shut down its wallet, BloctoSwap, and Blocto Teleport bridge services on December 18, 2025 PST. The decision follows $5.5 million in losses linked to a 99% decline in FLOW token value. The team reported unsuccessful negotiations with Flow/Dapper since June to obtain sustainable operational support. Blocto urged users to withdraw assets and export private keys before shutdown.

Terms & Concepts
  • Flow blockchain: A blockchain designed for scalable consumer applications, developed by Dapper Labs and supporting NFTs and decentralized applications.
  • Cross-chain bridge: A protocol that enables the transfer of assets or data between different blockchain networks.
  • Swap service: A feature allowing users to exchange one cryptocurrency for another directly within a digital wallet or platform.