Bitcoin Lightning Network wallet Blink Wallet has begun charging fees on idle custodial accounts, deducting $1 monthly until the balance is exhausted.
55 minutes ago
Bitcoin Lightning Network wallet Blink Wallet has begun charging inactivity fees on custodial accounts that have been inactive for 12 consecutive months, deducting $1 per month for each Bitcoin and USD balance respectively until the balance is depleted. Insiders disclosed that roughly 100,000 accounts qualify for the fees, with a combined balance exceeding $800,000; the first round of deductions amounts to approximately $45,000, though the related data has not been independently verified. Blink stated the move aims to cover infrastructure and compliance costs for dormant accounts and encourage users to switch to self-custody. Deducted fees will be fully refunded automatically once users log back in, and self-custody accounts remain unaffected. (Bitcoin Magazine)
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