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Storj Files Bankruptcy Amid Surprise Move

Guavy AI Editorial Team
Instruments
WEMIX STORJ
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Storj Labs, a blockchain-based cloud storage company, has filed for Chapter 11 bankruptcy in the United States. The move is aimed at resolving legacy financial obligations while continuing its operations. According to court documents, Storj filed the case on July 26 in the U.S. Bankruptcy Court for the Northern District of West Virginia.

The company expects to continue operating normally and does not anticipate any disruptions to its services. This development comes as a surprise, given that Storj has been actively developing its decentralized cloud storage platform.

In related news, WEMIX lost $6.25 million in a same-day security breach. The exact circumstances of the breach are unclear at this time.

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