The new BlockFi Wallet causes duplicate deposits

As of today, January 24th 2022, BlockFi has now split itself into 2 sections: A wallet, and an Interest Account. Now when you make a purchase on BlockFi the assets first get added to your wallet. To earn interest on those assets, you have to manually transfer them to your interest account.

This introduced 2 new transaction types in the exported BlockFi CSV file: “BIA Deposit” (transferring from wallet to interest account) and “BIA Withdraw” (transferring from interest account to wallet). Both of these transaction types show a positive value in the Amount field.

Here is an example of purchase I made today, followed by a transfer to my interest account.

I bought $20 GUSD and $20 USDC, I then transferred that from the wallet to the interest account to start earning interest. However, while I only added a total of $40 here, Koinly counts it as $80. I think Koinly needs to be updated to prevent “BIA Deposit” and “BIA Withdrawl” from counting against our totals.

|USDC| 20|BIA Deposit|1/24/2022 23:26|
|GUSD| 20|BIA Deposit|1/24/2022 23:26|
|USD |-20|Ach Trade  |1/24/2022 18:50|
|GUSD| 20|Ach Trade  |1/24/2022 18:50|
|USD |-20|Ach Trade  |1/24/2022 16:41|
|USDC| 20|Ach Trade  |1/24/2022 16:41|

Edit: Additionally, it looks like both BIA Deposits AND BIA Withdrawls are both ADDING to our total owned assets. So if I move 1 ETH back and forth between my wallet and interest account 5 times, Koinly will think I now own 5 more ETH.

:+1: please fix this

seeing the same thing here also! Koinly please update to reflect transfers between the BlockFi Interest Account and the main Blockfi Wallet.

Thanks!

Hello!

Alex from Koinly here :slight_smile:

There is a fix in progress for this issue, but unfortunately I don’t have an exact timeline right now.

Rest assured that we’re aware of the problem and working on solutions! :slight_smile:

Best regards,
Alex

Any update? Still seeing this for blockfi import and can’t generate a proper tax file until then.

Appears to still be no fix for this as of today