We are introducing the phases of the Inlock platform’s “Recovery and Restructuring Plan” to our clients along with its priorities and steps, as well as announcing the “Early Payout” program, which will give our clients the opportunity to be released from the service suspension and withdraw their assets from the Inlock platform with a loss deduction.

The Recovery and Restructuring Plan

The development of the Recovery and Restructuring Plan was prompted by the Inlock platform’s action taken to protect customer assets, namely the voluntary “emergency shutdown” of 14 November 2022. The aim of the plan is to release all the suspended services by this measure.

The primary objective of the Inlock platform’s operator is to settle the outsourced client assets that have been frozen as a result of the bankruptcy of the FTX exchange as soon as possible. If this is resolved in the near term (see point 2), all suspended services can be unblocked within a short timeframe. The Recovery and Restructuring Plan also aims to develop a strategy for the operation of the platform in case the blocked assets become available only as a result of a legal process lasting several years.

The Recovery and Restructuring Plan will be developed and implemented in the following phases:


Phase 1:

Our primary objective is to release client assets and make them available without delay. To achieve this, we have developed the “Early Payout” program, which is open to clients who had a significantly high exposure to volatile crypto assets in their portfolio at the time of the suspension and are able to accept a loss deduction.


Phase 2: 

Recovery of losses produced during the liquidation process through mediation or litigation. The timeframe for this is currently unknown.


Phase 3: 

Collecting all outstanding institutional debts. Expectedly ends at 31 January 2023.


Phase 4: 

Settlement with clients who have received a specific loan offer as a retail client, which may extend beyond the current year. Inlock’s ambition is to avoid enforcing the liquidation of these borrowers’ collateral.


Phase 5:

Full release of the suspension. If sufficient voluntary contributions are made, this can be done before the second phase is completed, assuming that sufficient voluntary contributions are received (in the form of convertible debt).


Phase 6: 

Opening up the platform to new customer registration, improving and optimising business processes, and full legal compliance with the forthcoming MICA Regulation (EU crypto regulation).


Phase 7:

Implementation of the contract that sets the conditions of the convertible debt. Building and strengthening long-term business relationships.


Phase 8: 

Restoring the ILK token and badge ecosystem.

We will keep our clients informed about the status of the Recovery and Restructuring Plan and share the completed phases. In the following overview, our clients can find an outline of the first stage:



Under the Recovery and Restructuring Plan of the Inlock platform, the company intends to make a restricted and limited offer to clients who wish to take advantage of the “Early Payout” program. The offer is made to Clients who are unable or unwilling to wait for the platform to fully restore its services due to over-exposure to volatile assets or other financial crisis. The offer is conditional and limited in amount per individual. The offer must be accepted by the affected clients by the 30th of November 2022 at the latest.

The restricted and limited offer is available to clients who had significant volatile asset exposure (above 60%) in their Inlock Savings Account on the 14th of November 2022 at 14:00 CET. The main objective of the action is to allow these clients to reduce their exposure substantially to volatile crypto assets that are currently locked on the platform. 

With this restricted and limited offer, our clients can initiate an immediate withdrawal, whereby the amount to be transferred will be reduced by 30%. Under this option, our client waives their right to claim the value of the deducted assets in any way at a later date. 


Withdrawals can only be initiated in USDC stablecoin from the platform, however, clients can choose to increase the withdrawable amount using the platform’s swap feature. The latest date to do so is the 30th of November 2022.

If a client wishes to take advantage of our offer, they must indicate it through their account on the Inlock platform. The maximum amount that can be withdrawn is 10,000 USDC per client. If the client’s USDC balance exceeds 10,000 USDC at the time of withdrawal, then 10,000 USDC will be deducted from the client’s USDC balance.

Clients who initiate or accept an internal transfer after the announcement of this restricted and limited offer will automatically lose their right or their already accepted claim will be rejected!

We would like to reassure those clients who are unable or do not wish to participate in this offer, but are concerned that early payout may reduce the amount owed to them or in any way affect the liquidity of the platform. When developing the early payment option. we have specifically taken measures to ensure that no such risk exists.

The remaining debt of customer assets will be settled on the basis of the Recovery and Restructuring Plan by the platform operator to its clients.

Clients may submit their request for the early payout via the Inlock web application between the 21st of November 2022 and 12 PM (CET) on the 30th of November 2022. Clients who wish to take advantage of the offer will receive their payments during the first week of December 2022 to the crypto wallet address specified in the request that is capable of accepting USDC.

Details of the payment:

  • We can only process withdrawals to Ethereum/ERC20 addresses above 100 USDC, and requests below this amount can only be sent to Binance Smart Chain/BEP20 addresses. 
  • Withdrawals are subject to network fees, which the platform only covers if the withdrawal is made to a Binance Smart Chain/BEP20 address. Therefore, we ask our clients to choose this network for withdrawals whenever it is possible.
  • Only USDC coins are eligible for payout, other coins, tokens, including other stablecoins, must be swapped to USDC.
  • Coins or tokens that cannot be converted to USDC or whose conversion is pending (including ILK tokens) will not be eligible for our “Early Payout” program as announced in the current offer. 
  • Any remaining balances after the “Early Payout” will continue to be managed on the Inlock platform under the limitations currently in force.
  • US dollar-pegged stablecoins (USDC, USDT, DAI) are considered non-volatile by the platform.

Date of publication of this restricted and limited offer: 21 November 2022, 19 hours 00 minutes (CET)

Access our previous announcements on the suspension on the links below:

Inlock suspends certain services

News about suspension

Early Payout option