According to CoinDesk, digital asset services firm Keyrock has agreed to acquire the bankrupt US cryptocurrency trading firm BlockFills for $3.25 million.

Through this acquisition, Keyrock will take over BlockFills' shares and the majority of its assets. Specific acquisition targets include the client list, proprietary technology, intellectual property rights, and certain liabilities.

The acquisition is subject to final approval from the court and regulatory authorities. A sale approval hearing is scheduled to be held in court on the upcoming 16th, and once the hearing is passed, the official acquisition will be completed.

Meanwhile, BlockFills' operator Reliz filed for Chapter 11 bankruptcy protection (corporate rehabilitation) on March 15, following approximately $75 million in losses. At the time, Reliz reported assets of $50 million to $100 million and liabilities ranging from $100 million to $500 million.