Blocto
Valued at $80 million in 2023, switched off less than three years later
A multi-chain crypto wallet with email login, launched in 2019 by the startup portto and closely tied to the Flow blockchain, where it also ran a token swap, a bridge and the NFT marketplace BloctoBay.
- Capital raised (announced)
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
- Losses absorbed, by the company's account
- Estimated
Blocto’s December 2025 account of cumulative operating losses over five years; not user losses or funding.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Token round | 2021 | ||
| Series A | 2023 |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| Hsuan Lee | — | Not established | Oct 2026 | |
| Edwin Yen | — | Founder of Spotlight Protocol, which describes itself as an IP-backed memecoin launchpad on Story Protocol | Oct 2026 |
Timeline
2019
November 2022
NFTgators relayed Blocto’s November 2022 user count of 1.6 million. The report did not define an active-user interval or establish unique individual people.
12 December 2025
Read the full post
After five incredible years serving over 2 million users, it is with a heavy heart that we announce the sunset of Blocto Wallet services. [...] As the $FLOW price declined from nearly $40 in 2021 to below $0.30 today—a drop of over 99%—Blocto has been operating at a significant loss. For the past several years, we have absorbed over $5.5 million in losses to keep our services running for the community. [...] Now, we simply do not have the capital to continue absorbing these costs.
18 December 2025
The staking node stayed online; its users were told to import their keys into another wallet.
How it ended
Ran out of money
Blocto announced in December 2025 that its wallet, its swap and its bridge would stop on 18 December, giving custodial users until then to export their private keys or lose access. The company said the FLOW token's fall of more than 99% from its 2021 high had left it operating at a loss, that it had absorbed over $5.5 million in losses, and that it no longer had the capital to continue. Its staking node was kept running.
Still alive
Open spot
Blocto is gone. Is your wallet still running?
Spotlight your project here.
Sources
14 sources behind this page.
- 1Blocto Valuation Soars to $80m Following Series A Round · Crypto Daily
- 2Mark Cuban-Backed Blocto Secures Series A Round at $80M Valuation · NFTgators
- 3Blocto wallet announced its impending closure after five years of operation due to continuous losses. · PANews · Dec 2025
- 4Blocto Wallet to Shut Down Amid $5.5 Million Losses · Phemex News · Dec 2025
- 5Blocto crypto wallet closes Series A round at an $80 million valuation · The Block · Feb 2023
- 6@BloctoApp post announcing the sunset of Blocto Wallet services · twitterapi.io · Dec 2025
- 7X account record for @BloctoApp · twitterapi.io
- 8Blocto's posts on X naming @hleetw and @edwinsmallyen · twitterapi.io (X API), retrieved 3 October 2026
- 9Latest posts of @edwinsmallyen, including Spotlight Protocol's post of 25 December 2024 · twitterapi.io (X API), retrieved 3 October 2026
- 10Latest posts of @hleetw · twitterapi.io (X API), retrieved 3 October 2026
Show 4 moreShow fewer
- 11X account search for "Edwin Yen" · twitterapi.io (X API), retrieved 3 October 2026
- 12X account search for "Hsuan Lee" · twitterapi.io (X API), retrieved 3 October 2026
- 13X profile of @Spotlight_IP (Spotlight Protocol) · twitterapi.io (X API), retrieved 3 October 2026
- 14Blocto Wallet Closes Series A Funding Backed by Mark Cuban, Valuation Rallies by 700% · U.Today
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.