Firelight Rolls Back Blacklist Process, Unfreezes 87 Affected Flare Wallets

The on-chain security protocol Firelight has announced that it will roll back its blacklist process, unfreezing 87 Flare wallets that were previously frozen due to failing a funds screening, involving 117,500 FXRP. The platform stated that the current mechanism screens for blacklisted or OFAC-sanctioned addresses during the funds deployment and cycle. If marked, the funds remain within the protocol until the cycle ends, generating no rewards but still participating in the security module. After the cycle ends, the funds are returned, and the wallets are prohibited from re-accessing. Firelight pointed out that this practice is unsustainable, and in the coming days, it will unfreeze the affected wallets, with the timeline and steps for retrieving funds to be announced separately. Security, KYC, and institutional standards will remain unchanged, and a new plan that does not affect users will be developed in the coming weeks, with community feedback sought before any changes. Flare co-founder Hugo Philion stated that due to compliance policies, 84 Flare addresses have been unstaked, and he will provide equivalent compensation to those addresses that are not sanctioned and not widely blacklisted.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.