BlockFi, a company that lends cryptocurrency, has decided to close its website and join forces with Coinbase to help its customers get their money back.

They say the partnership with Coinbase will help people who have accounts with BlockFi get their money out. This comes after BlockFi said it couldn't pay back its customers because another company, FTX, failed, causing problems for BlockFi too.

Last year, BlockFi said they would give people until April 28, 2024, to ask for their money back. But now they say that time is up. They told customers to make a Coinbase account to get their money.

For people who missed the deadline, BlockFi is giving one last chance to confirm their details. If they don't, their money might be turned into cash and given out that way.

BlockFi said they will only use Coinbase for giving out money in the future, to make sure it's safe. They also warned people to watch out for scams from others pretending to be BlockFi.

Before this, BlockFi agreed to pay $875 million to FTX and Alameda Research to settle a dispute. This deal meant FTX wouldn't try to get money back from BlockFi.

BlockFi's CEO, Zac Prince, blamed FTX for BlockFi's problems and said it in court. A court said BlockFi could make a plan to pay back the people it owes money to. They think BlockFi owes up to $10 billion to lots of people, including $1 billion to its biggest creditors and $220 million to a company called Three Arrows Capital.

In conclusion, BlockFi has stopped its web platform and is working with Coinbase to give people their money back after a big mess caused by another company. They've had some legal battles, but they're trying to fix things and pay back everyone they owe.