Case summary
What happened
Inlock offered weekly interest through a custodial Savings Account and crypto-backed lending products. On 14 November 2022, it activated an emergency shutdown after a failed liquidation process made a small portion of customer assets unavailable. Inlock later offered migration to Vigiler, discounted exit payouts, scheduled releases and later settlement offers. Recovery outcomes varied by path, asset and customer: some customers accepted deductions, while the scheduled-release cohort later received more than the fixed U.S.-dollar value recorded at the incident date. Inlock completed the recovery-process wind-down and stopped all active customer-asset services on 30 June 2026, leaving the platform in read-only mode until permanent decommissioning.
Customer result
Customer outcome
Partial repayment
The 2024 value benchmark was calculated using fixed incident-date U.S.-dollar values and applied to the scheduled-release cohort; it was not a universal in-kind recovery result. Some customers accepted discounted exits, others migrated or accepted later settlement offers. Inlock ended active customer-asset services on 30 June 2026 after completing the recovery-process wind-down.
- Estimated recovery
- Recovery varied by program, asset and customer. Scheduled-release customers received more than the fixed incident-date U.S.-dollar value by August 2024, while exit-payout customers accepted deductions and later settlement offers used different terms.
- Repayment started
- 2023-04-28
- Repayment completed
- 2026-06-30
- Confidence
- High
Asset treatment
Terms risk
Unclear
Unclear is retained because product mechanics are documented but the complete contractual ownership and claim-priority framework was not verified across all recovery programs.
- Affected product
- Inlock Savings Account and other custodial customer-asset balances
- Confidence
- Medium
Inlock operated a custodial Savings Account and controlled the lending, collateral and liquidation processes, but the reviewed public materials do not establish one complete legal ownership or insolvency-priority treatment for every customer asset and recovery path.
Source: What is Inlock Savings Account and how does it work?
Known unknowns
Uncertainty
Recovery was not uniform. Exit-payout participants accepted discounts, migration participants followed a separate path, and scheduled-release metrics used fixed incident-date U.S.-dollar values rather than universal in-kind recovery. The 30 June 2026 end date marks termination of active services; read-only access and support continued temporarily.
Chronology
Historical record
Inlock introduces Savings Account
Inlock launched a custodial crypto Savings Account with weekly interest payments.
The product launch date is documented by Inlock's first-party announcement and FAQ.
Inlock activates emergency shutdown
Inlock suspended deposits, withdrawals, new loans, onboarding and interest after a failed liquidation process made part of customer assets unavailable.
Inlock described the unavailable portion as small but isolated all customer-asset activity while pursuing recovery.
Recovery and Restructuring Plan begins
Inlock issued a Recovery and Restructuring Plan that introduced alternative recovery paths including migration, exit payouts and scheduled releases.
The plan date is stated in Inlock's detailed April 2023 recovery-program guide.
Scheduled-release payments begin
Inlock began monthly pro-rata USDC payments under the Scheduled Release program after offering migration and discounted exit-payout alternatives.
Recovery treatment differed by chosen program and was not one uniform repayment path.
Scheduled-release cohort exceeds fixed incident-value benchmark
Inlock reported that scheduled-release customers had received more than 103.4% of the fixed U.S.-dollar value of affected assets recorded at the November 2022 incident date.
The metric was cohort-specific and value-based; individual ratios and in-kind asset outcomes varied.
Final Settlement program closes
Inlock completed its Final Settlement program after partial legal compensation enabled a settlement offer, while scheduled releases continued for customers who did not accept the offer.
More than 75% of outstanding asset value was settled for accepting customers, but residual scheduled-release claims remained.
Inlock ends active services
Inlock completed the wind-down of all active financial and token-related services and moved the platform to temporary read-only access before permanent decommissioning.
Read-only account access continued until 30 September 2026 and customer support until 31 December 2026.
Source record
Evidence dossier
Filter by claim, reliability, source type, and whether evidence is linked to a specific event.
customer outcome
6 sourcesDetailed guide for Exit Payout and Scheduled Release programs
Inlock · 2023-04-02
Defines monthly scheduled releases beginning 28 April 2023 and discounted exit-payout treatment.
Choose between the payout options now
Inlock · 2023-04-26
First-party notice describing customer selection among recovery paths and payout timing.
Inlock releases more than 75% of fixed incident-date asset value
Inlock · 2024-04-28
Explains the fixed-value methodology, customer-specific ratios and recovery-path exclusions.
Inlock releases more than 100% of fixed incident-date asset value
Inlock · 2024-08-28
Reports 103.4% of fixed incident-date U.S.-dollar value for the scheduled-release cohort while warning that individual ratios vary.
Public offer for conditional conversion of customer claims
Inlock · 2024-09-02
Describes residual claims, expected partial settlement and optional conversion to longer-term in-kind obligations.
Inlock completes final settlement programme
Inlock · 2025-06-30
Reports settlement of more than 75% of outstanding asset value for accepting customers while scheduled releases continued for others.
end date
1 sourcesCompletion of the ILK wind-down and Inlock platform decommissioning
Inlock · 2026-06-30
Confirms the end of all active financial and token-related services, followed by temporary read-only access and support.
Entity
1 sourcesWhat is Inlock Savings Account and how does it work?
Inlock
First-party description of the custodial Savings Account and interest mechanics.
Event
3 sourcesInlock introduces Savings Account product
Inlock · 2020-09-11
First-party launch announcement for the weekly-interest Savings Account.
Inlock suspends certain services for customer asset protection
Inlock · 2022-11-14
First-party emergency-shutdown notice describing the failed liquidation process and suspended functions.
Detailed guide for Exit Payout and Scheduled Release programs
Inlock · 2023-04-02
First-party recovery guide stating that the Recovery and Restructuring Plan was issued on 1 January 2023.
failure reason
1 sourcesInlock final platform page and incident notice
Inlock
Current first-party page preserves the November 2022 suspension notice and the failed-liquidation explanation.
status
1 sourcesAnnouncement on changes to the ILK token ecosystem
Inlock · 2026-03-03
Announces the planned conclusion of scheduled releases and 30 June 2026 termination deadlines for remaining platform functions.
url history
1 sourcesInlock website archive captures
Internet Archive
Preserves the historical customer-facing platform and service announcements.
No evidence records match the current filters.
Comparative records