Audit log

Every state-changing event for Storj Labs: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-13 23:18:16Z
   Score: ? → ? (no score change)
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   {"actor":"system:backfill","investigation_id":"f12aad5f-8d71-4276-a66a-901e1f6e10e1","kind":"publish","page_slug":"storj-labs","published_at":"2026-08-13T23:18:16.736Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Storj Labs","sections":[{"content":"Storj Labs filed a voluntary Chapter 11 petition on July 26, 2026, in the U.S. Bankruptcy Court for the Northern District of West Virginia. The assigned case number is 5:26-bk-00512. Initial court filings estimated both total assets and total liabilities in the range of $1 million to $10 million, with between one and 49 creditors. The company, which had raised approximately $35 million in total funding — including a $30 million STORJ token sale in May 2017 that hit its target in seven days, a $3 million seed round in February 2017 backed by Qualcomm Ventures and Techstars, and roughly $5 million across six additional equity rounds — characterized the filing as a court-supervised restructuring rather than a wind-down. Kaloyan Raev, Storj's Director of Software Engineering, stated publicly: 'The business underneath is strong and right-sized. What holds it back are legacy obligations from an earlier chapter.' The company did not publicly identify which specific prior obligations or acquisitions generate the liabilities it seeks to resolve, stating only that it is 'in the process of dispositioning previous acquisitions and non-essential operations.' Inveniam Capital Partners, a private-market data firm that acquired Storj as a subsidiary in October 2025 — approximately nine months before the bankruptcy filing — has endorsed the reorganization and states it 'continues to support Storj throughout.'","heading":"Chapter 11 Filing — Background and Stated Rationale","severity":"high","sources":[{"credibility":1,"name":"Storj Announces Voluntary Financial Restructuring — GlobeNewswire (official press release)","type":"official","url":"https://www.globenewswire.com/news-release/2026/07/26/3333224/0/en/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth.html"},{"credibility":1,"name":"Storj Official Blog — Voluntary Financial Restructuring Announcement","type":"official","url":"https://www.storj.io/blog/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth"},{"credibility":1,"name":"CoinDesk — Cloud data firm Storj files for Chapter 11, extending a week of crypto failures","type":"news_article","url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"},{"credibility":2,"name":"crypto.news — Storj Labs files Chapter 11 after raising $35 million","type":"news_article","url":"https://crypto.news/storj-labs-files-chapter-11-after-raising-35-million/"},{"credibility":2,"name":"Bitcoin Foundation — Storj Bankruptcy Begins Less Than a Year After Inveniam Takeover","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/storj-bankruptcy-begins-less-than-a-year-after-inveniam-takeover/"}]},{"content":"The STORJ token fell approximately 16–20% on the day of the bankruptcy announcement, settling near $0.06. Trading volume reached roughly $20 million against a market capitalization of approximately $27 million. The token had already experienced severe long-term deterioration: it traded near $0.187 in October 2025 at the time of Inveniam's acquisition announcement and reached an all-time high of approximately $3.81 in March 2021. By the filing date in July 2026, STORJ was down approximately 98% from its peak and approximately 79% over the prior year. Different outlets reported slightly varying decline figures for the single-day move (ranging from 14.9% to 20%), reflecting measurement-period differences rather than factual disagreement.","heading":"STORJ Token — Market Impact and Price History","severity":"high","sources":[{"credibility":1,"name":"The Block — STORJ token falls 20% as decentralized storage firm files for Chapter 11","type":"news_article","url":"https://www.theblock.co/news/business/2026-07-27-storj-token-falls-20-as-decentralized-storage-firm-files-for-chapter-11-bankruptcy-amid-crypto-shutdown-wave-409712"},{"credibility":1,"name":"CoinDesk — Cloud data firm Storj files for Chapter 11","type":"news_article","url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"},{"credibility":2,"name":"Cryptopolitan — STORJ crashes 17% as firm files for Chapter 11","type":"news_article","url":"https://www.cryptopolitan.com/storj-crashes-17-as-firm-files-chapter-11/"}]},{"content":"Storj has proposed an arrangement in which STORJ token holders would receive equity in the restructured company rather than receiving nothing, which is the typical outcome for utility token holders in a corporate bankruptcy. The company published an open letter stating its intent to 'propose a mechanism for token holders to participate in the equity of the restructured company,' and described the filing as designed to 'align ownership among management, the decentralized community, token holders, and investors.' However, as of the filing date, the company explicitly stated that 'the design, eligibility, mechanics and terms still have to be developed and formally disclosed.' No claim percentage, eligibility criteria, or conversion ratio had been disclosed. The proposal requires court approval and acceptance by creditors under the bankruptcy plan confirmation process. Under the standard priority waterfall in U.S. bankruptcy law, secured creditors, then unsecured creditors, are paid before any equity is distributed. Utility token holders do not hold a recognized legal claim on the issuer under established precedent, meaning STORJ holders would effectively rank behind all recognized creditors unless the plan explicitly creates a specific class for them and the court confirms it. This structure — treating utility token holders as prospective equity recipients in a reorganization plan — has no established precedent in U.S. bankruptcy jurisprudence, creating novel and untested uncertainty for retail holders. Outcomes remain fully contingent on court proceedings.","heading":"Token Holder Equity Proposal — Novel and Unresolved Risk","severity":"critical","sources":[{"credibility":2,"name":"Startup Fortune — Storj Labs filed for Chapter 11 bankruptcy and token holders are last in line","type":"news_article","url":"https://startupfortune.com/storj-labs-filed-for-chapter-11-bankruptcy-and-token-holders-are-last-in-line/"},{"credibility":1,"name":"Storj Official Blog — Voluntary Financial Restructuring Announcement","type":"official","url":"https://www.storj.io/blog/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth"},{"credibility":2,"name":"Crypto Briefing — Storj's Chapter 11 filing raises concerns for STORJ token holders","type":"news_article","url":"https://cryptobriefing.com/storj-chapter-11-token-holders-concerns/"},{"credibility":3,"name":"The Currency Analytics — Storj Files Chapter 11 With a Twist: Equity Stakes Offered to STORJ Token Holders","type":"news_article","url":"https://thecurrencyanalytics.com/bitcoin/storj-files-chapter-11-with-a-twist-equity-stakes-offered-to-storjs-72-cent-token-holders-278914"}]},{"content":"Storj operates its decentralized storage network through independent node operators, who are compensated in STORJ tokens under a tiered held-amount schedule: 75% of earned revenue is withheld during months 1–3 of a node's operation, 50% during months 4–6, and 25% during months 7–9, with full disbursements beginning at month 10. Half of accumulated held amounts are returned at month 16; the remainder is held indefinitely. The Chapter 11 automatic stay distinguishes sharply between obligations arising before and after the July 26, 2026 petition date. The company states that 'employees and ordinary-course obligations arising during the process are expected to be paid,' but pre-petition obligations — including held amounts and earned token balances accrued before the filing date — are subject to the claims resolution process and are not guaranteed immediate payment. Node operators with long-running nodes may carry substantial balances owed by Storj that now enter the bankruptcy claims queue. Under Storj's Storage Provider Terms, operators are classified as suppliers, placing them in the general unsecured creditor tier absent a court order granting them higher priority. Whether pre-petition held amounts will be treated as general unsecured claims or receive different treatment has not been determined by the court as of the filing date.","heading":"Node Operator Payment Uncertainty","severity":"high","sources":[{"credibility":2,"name":"CryptoTimes — Storj Files for Chapter 11, Pre-Filing Node Operator Payments in Limbo","type":"news_article","url":"https://www.cryptotimes.io/2026/07/27/storj-files-for-chapter-11-pre-filing-node-operator-payments-in-limbo/"}]},{"content":"Inveniam Capital Partners, described as a private-market data infrastructure firm, announced an agreement to acquire Storj Labs in October 2025. Under that arrangement, Storj operated as a separate subsidiary of Inveniam. The bankruptcy filing occurred approximately nine months after the acquisition was announced. Inveniam has publicly endorsed the restructuring as 'the right path to a sustainable future' and states it 'continues to support Storj throughout.' The company has stated that the legacy obligations it seeks to resolve 'originated during an earlier phase' of the business and predated the Inveniam relationship; however, Storj has not publicly identified which specific prior acquisitions or obligations it is dispositioning. No source examined for this investigation independently verified a causal link between the Inveniam acquisition and the bankruptcy. The company's plan to divest 'previous acquisitions and non-essential operations' suggests Storj had undertaken M&A activity prior to or concurrent with the Inveniam takeover, but the targets and terms of those earlier transactions are not disclosed in public filings reviewed here.","heading":"Inveniam Acquisition and Legacy Obligations","severity":"medium","sources":[{"credibility":2,"name":"Bitcoin Foundation — Storj Bankruptcy Begins Less Than a Year After Inveniam Takeover","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/storj-bankruptcy-begins-less-than-a-year-after-inveniam-takeover/"},{"credibility":1,"name":"CoinDesk — Cloud data firm Storj files for Chapter 11","type":"news_article","url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"},{"credibility":2,"name":"CryptoAdventure — Storj Labs Files Chapter 11 As Inveniam Backs Restructuring","type":"news_article","url":"https://cryptoadventure.com/storj-labs-files-chapter-11-as-inveniam-backs-restructuring/"}]},{"content":"The Storj filing was the fourth major crypto company announcement of distress or closure within a single week in late July 2026. BitMEX, a derivatives exchange that at its peak held 57% of the crypto derivatives market, announced on approximately July 23, 2026 that it would permanently cease operations on September 23, 2026, after 11 years. Separately, BitMart — an exchange that had served over nine million users — announced an orderly wind-down on approximately July 26, 2026, halting new registrations and deposits immediately, ending trading on August 26, 2026, and closing the platform fully on January 31, 2027. Movement Labs, a blockchain infrastructure company whose MOVE token launch had been marred by a controversial market-making agreement that allowed large-scale token sales shortly after debut, also filed for Chapter 11 during the same period. According to industry analysis, over 100 crypto projects shut down, filed for bankruptcy, or ceased operations in 2026, with spot trading volume across major centralized venues falling to approximately $1.05 trillion in April 2026 — the lowest monthly total in 25 months — and DeFi total value locked declining by approximately $43.4 billion (38%) over six months.","heading":"Broader Market Context — Week of Crypto Industry Failures","severity":"medium","sources":[{"credibility":2,"name":"Startup Fortune — Crypto Just Lost BitMEX, BitMart, Movement Labs and Storj in One Week","type":"news_article","url":"https://startupfortune.com/crypto-just-lost-bitmex-bitmart-movement-labs-and-storj-in-one-week/"},{"credibility":1,"name":"CoinDesk — BitMEX and BitMart may be first casualties of crypto trading slump","type":"news_article","url":"https://www.coindesk.com/business/2026/07/28/bitmex-and-bitmart-may-be-first-casualties-of-crypto-trading-slump"},{"credibility":2,"name":"Bitcoin.com News — BitMart Begins Shutdown Process","type":"news_article","url":"https://news.bitcoin.com/bitmart-begins-shutdown-process-as-crypto-exchange-sets-final-trading-deadline/"},{"credibility":2,"name":"Memeburn — Over 100 Crypto Projects Folded In 2026","type":"news_article","url":"https://memeburn.com/crypto-projects-shutting-down-2026-shakeout/"}]},{"content":"No SEC enforcement action, CFTC proceeding, DOJ indictment, or OFAC designation against Storj Labs or its principals was identified in searches conducted for this investigation. The STORJ token's legal classification as a utility token versus a security has not been publicly adjudicated. The 2017 token sale raised $30 million and was completed under conditions that preceded the SEC's intensified scrutiny of token offerings; no enforcement action arising from that sale is reflected in public records reviewed here. The bankruptcy filing is a voluntary Chapter 11 proceeding and does not reflect any regulatory enforcement action.","heading":"Regulatory Status","severity":"low","sources":[{"credibility":2,"name":"crypto.news — Storj Labs files Chapter 11 after raising $35 million","type":"news_article","url":"https://crypto.news/storj-labs-files-chapter-11-after-raising-35-million/"}]}],"sources_used":[{"credibility":1,"name":"Storj Announces Voluntary Financial Restructuring — GlobeNewswire","type":"official","url":"https://www.globenewswire.com/news-release/2026/07/26/3333224/0/en/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth.html"},{"credibility":1,"name":"Storj Official Blog — Financial Restructuring Announcement","type":"official","url":"https://www.storj.io/blog/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth"},{"credibility":1,"name":"CoinDesk — Cloud data firm Storj files for Chapter 11","type":"news_article","url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"},{"credibility":1,"name":"The Block — STORJ token falls 20% as decentralized storage firm files for Chapter 11","type":"news_article","url":"https://www.theblock.co/news/business/2026-07-27-storj-token-falls-20-as-decentralized-storage-firm-files-for-chapter-11-bankruptcy-amid-crypto-shutdown-wave-409712"},{"credibility":1,"name":"CoinDesk — BitMEX and BitMart may be first casualties of crypto trading slump","type":"news_article","url":"https://www.coindesk.com/business/2026/07/28/bitmex-and-bitmart-may-be-first-casualties-of-crypto-trading-slump"},{"credibility":2,"name":"crypto.news — Storj Labs files Chapter 11 after raising $35 million","type":"news_article","url":"https://crypto.news/storj-labs-files-chapter-11-after-raising-35-million/"},{"credibility":2,"name":"Bitcoin Foundation — Storj Bankruptcy Begins Less Than a Year After Inveniam Takeover","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/storj-bankruptcy-begins-less-than-a-year-after-inveniam-takeover/"},{"credibility":2,"name":"Startup Fortune — Storj Labs filed for Chapter 11 bankruptcy and token holders are last in line","type":"news_article","url":"https://startupfortune.com/storj-labs-filed-for-chapter-11-bankruptcy-and-token-holders-are-last-in-line/"},{"credibility":2,"name":"Startup Fortune — Crypto Just Lost BitMEX, BitMart, Movement Labs and Storj in One Week","type":"news_article","url":"https://startupfortune.com/crypto-just-lost-bitmex-bitmart-movement-labs-and-storj-in-one-week/"},{"credibility":2,"name":"CryptoTimes — Storj Files for Chapter 11, Pre-Filing Node Operator Payments in Limbo","type":"news_article","url":"https://www.cryptotimes.io/2026/07/27/storj-files-for-chapter-11-pre-filing-node-operator-payments-in-limbo/"},{"credibility":2,"name":"Crypto Briefing — Storj's Chapter 11 filing raises concerns for STORJ token holders","type":"news_article","url":"https://cryptobriefing.com/storj-chapter-11-token-holders-concerns/"},{"credibility":2,"name":"Cryptopolitan — STORJ crashes 17% as firm files for Chapter 11","type":"news_article","url":"https://www.cryptopolitan.com/storj-crashes-17-as-firm-files-chapter-11/"},{"credibility":2,"name":"CryptoAdventure — Storj Labs Files Chapter 11 As Inveniam Backs Restructuring","type":"news_article","url":"https://cryptoadventure.com/storj-labs-files-chapter-11-as-inveniam-backs-restructuring/"},{"credibility":2,"name":"Bitcoin.com News — BitMart Begins Shutdown Process","type":"news_article","url":"https://news.bitcoin.com/bitmart-begins-shutdown-process-as-crypto-exchange-sets-final-trading-deadline/"},{"credibility":2,"name":"Memeburn — Over 100 Crypto Projects Folded In 2026","type":"news_article","url":"https://memeburn.com/crypto-projects-shutting-down-2026-shakeout/"},{"credibility":2,"name":"Blockonomi — Storj Labs Declares Chapter 11 Bankruptcy Despite $35M in Prior Funding","type":"news_article","url":"https://blockonomi.com/storj-labs-declares-chapter-11-bankruptcy-despite-35m-in-prior-funding"},{"credibility":2,"name":"Crowdfund Insider — Decentralized Cloud Storage Network Provider, Storj Labs, Files For Bankruptcy","type":"news_article","url":"https://www.crowdfundinsider.com/2026/07/294125-decentralized-cloud-storage-network-provider-storj-labs-files-for-bankruptcy/"},{"credibility":3,"name":"The Currency Analytics — Storj Files Chapter 11 With a Twist: Equity Stakes Offered to STORJ Token Holders","type":"news_article","url":"https://thecurrencyanalytics.com/bitcoin/storj-files-chapter-11-with-a-twist-equity-stakes-offered-to-storjs-72-cent-token-holders-278914"}],"summary":"Storj Labs, the company behind the decentralized cloud storage protocol and STORJ token, filed for voluntary Chapter 11 bankruptcy protection on July 26, 2026 in the U.S. Bankruptcy Court for the Northern District of West Virginia (case 5:26-bk-00512). The company attributes the filing to legacy financial obligations predating its current operating strategy, not to operational failure, and states that its decentralized storage network and customer services remain uninterrupted. STORJ token holders face significant uncertainty: the company has proposed an equity conversion mechanism, but terms remain undisclosed, court approval is required, and token holders rank behind all creditors under standard bankruptcy law.","timeline":[{"date":"2017-02","event":"Storj Labs raised a $3 million seed round backed by Qualcomm Ventures and Techstars.","source":"crypto.news","source_url":"https://crypto.news/storj-labs-files-chapter-11-after-raising-35-million/"},{"date":"2017-05","event":"Storj Labs completed a $30 million STORJ token sale, reaching its target in seven days.","source":"crypto.news","source_url":"https://crypto.news/storj-labs-files-chapter-11-after-raising-35-million/"},{"date":"2021-03","event":"STORJ token reached an all-time high of approximately $3.81.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"},{"date":"2025-10","event":"Inveniam Capital Partners announced an acquisition agreement for Storj Labs; STORJ token traded near $0.187 at the time.","source":"Bitcoin Foundation / Startup Fortune","source_url":"https://bitcoinfoundation.org/news/crypto-companies-news/storj-bankruptcy-begins-less-than-a-year-after-inveniam-takeover/"},{"date":"2026-07-23","event":"BitMEX announced it would permanently cease operations on September 23, 2026, beginning the week of major crypto failures.","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/07/28/bitmex-and-bitmart-may-be-first-casualties-of-crypto-trading-slump"},{"date":"2026-07-26","event":"Storj Labs filed voluntary Chapter 11 petition in U.S. Bankruptcy Court for the Northern District of West Virginia (case 5:26-bk-00512). BitMart simultaneously announced its wind-down.","source":"GlobeNewswire / Storj official blog / CoinDesk","source_url":"https://www.globenewswire.com/news-release/2026/07/26/3333224/0/en/storj-announces-voluntary-financial-restructuring-to-resolve-legacy-liabilities-and-position-the-business-for-growth.html"},{"date":"2026-07-27","event":"STORJ token fell 16–20% to approximately $0.06 on news of the Chapter 11 filing. Major outlets including CoinDesk and The Block reported the filing and token holder equity proposal.","source":"CoinDesk / The Block","source_url":"https://www.coindesk.com/business/2026/07/27/cloud-data-firm-storj-files-for-chapter-11-extending-a-week-of-crypto-failures-token-slides-16"}]},"v":1}

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