Poolin and Storj File Chapter 11 in One Week: What Crypto-Infrastructure Creditors Recover

Two crypto-infrastructure companies, mining pool Poolin and decentralized cloud firm Storj Labs, filed for Chapter 11 four days apart in late July 2026, extending a week of digital-asset failures.

Why it matters: If you sell to, host, or supply a crypto-infrastructure firm, your receivable is unsecured and could recover cents on the dollar.

Poolin owes 11,700 users $163.7M and the sale covers a third

Poolin Technology filed Chapter 11 on July 22, 2026, in the U.S. Bankruptcy Court for the District of New Jersey, capping a collapse that began when it froze customer withdrawals in September 2022.

• Poolin listed $173.1 million in prepetition liabilities, including $163.7 million in unsecured IOUs owed to roughly 11,700 Poolin Wallet users whose funds have been frozen since 2022.
• Poolin permanently halted all mining and hosting operations on July 10, 2026, and has not resumed.
• Poolin’s West Texas sites are set to sell for a $52 million floor bid, which covers roughly 32% of the IOUs before fees, so unsecured creditors recover far less.

Storj filed with node-operator payments in limbo

Storj Labs filed Chapter 11 on July 26, 2026, in the Northern District of West Virginia, saying legacy liabilities were too large to grow out of even after a recent $35 million raise.

• Storj pays individuals and businesses to rent out unused disk space, and those pre-filing node-operator payments are now caught in the bankruptcy as unsecured claims.
• Storj proposes giving STORJ token holders equity in the reorganized company, an unusual move since token holders typically recover nothing in Chapter 11.
• Storj says services will keep running, and owner Inveniam, which acquired the firm last year, endorses the restructuring.

Why two crypto filings reach ordinary trade creditors

Crypto-infrastructure firms run on the same supplier relationships as any industrial business, so their failures land on vendors and counterparties who never touched a token.

• Poolin’s hosting partners, power suppliers, and hardware vendors sit in the same unsecured pool as its 11,700 wallet users, all chasing a $52 million asset sale.
• Storj’s node operators are effectively unpaid vendors, and their pre-filing invoices convert into bankruptcy claims the moment the petition is filed.
• Trade credit insurance covers nonpayment when a B2B customer files for bankruptcy, subject to credit limits, notification requirements, and policy terms in place at the time of the filing.

What to do now

If you carry receivables from a crypto-mining, hosting, or digital-storage customer, treat these filings as a prompt to check your exposure and recovery options.

1. Pull every open invoice and hosting or service contract with digital-asset customers and confirm which balances are now pre-petition claims.
2. Work with counsel to file proofs of claim in the Poolin and Storj cases before the bar dates the court sets in each case and to preserve any reclamation or setoff rights.
3. Review counterparty concentration across your book so a single crypto-sector default does not swamp your bad-debt reserve.
4. Contact Securitas Global Risk Solutions to review whether trade credit insurance can protect these receivables going forward.

Disclaimer:
This blog post is meant to be informative and provide helpful tips and insights into credit insurance policies. It is not meant to supersede any policy requirements. Please consult your credit insurance policy for all requirements including claim filing deadlines and required documentation.

Since 2004, Securitas Global Risk Solutions, LLC has helped clients develop trade credit and political risk transfer solutions. As an independent brokerage, Securitas is focused on developing comprehensive solutions that meet client needs, ensuring a complete understanding of policy wording and delivering excellent responsive service. If you want to understand how trade credit insurance can protect your business, contact Securitas Global Risk Solutions to speak with a specialist.