I’m confused, if that is true, then this chapter 11 is an act planned back from Oct 2025?
Look, there’s something seriously sketchy with Inveniam. Honestly, we could already tell just from researching them. Their whole business model feels shady and their website isn’t even professional. Try reaching out to them and you’ll spot even more red flags.
What went down here is pretty serious and there is zero transparency. We have no idea if this was planed since months and if that company was brought in, just to buy the bankruptcy as a fix. Maybe it will turn out okay for Storj if they come back as a more human-focused company. But here is my problem. I cannot recommend it to anyone while this scandal is still hanging over it. Impossible. The product itself is freaking great but anyone I would pitch this to is going to want answers and transparency and I do not have those details.
People in my country really hate staged bankruptcies and manipulation like this. It will take time before things move past this. Still, the product is excellent and developers are very good for developping this kind of product.
I’ll also Watching the show as a SNO…
Right. Something did not feel right from the beginning:
We noticed the warning signs and had a strong feeling that things will not turn out as promised.
Despite all concerns nodes are rising better than last year. and it is Ingress not repair.
Storj was sold to Inveniam for shares by its former owners, and the company itself made no profit. At the time, it was already struggling with funding.
Inveniam itself was growing and making acquisitions only with new investors. When the flow dried up, problems and delays in employee salaries began.
The only area where Inveniam let Storj down was the promised support. So, Storj’s only chance of survival is to sell off excess assets, like Valdi.
I really don’t see how this can be possible.
it is easy, despite what SNO speak here, Storj is very good income, for medium-big SNO no one turn off nodes, while money comes. may be small part only turned off.
In 18 days Ingress 25.5 TB repair ingress 4.3 tb
but strange that repair Egress 14.5 may be i dont get repair for some reason?
The point being that you’re saying there is ingress and the network is growing. Who in their right mind would entrust their data to a bankrupt company?
There was a $130K Vivint payment to Storj’s account in July. Attachment 4 on doc 36 shows all of their Stripe and check receipts for July - very interesting. No idea what period of service that covered, but even if it was one month, companies tend to do things slowly. For example, Vivint might allow customers to see their video footage for the last 30 days (no idea). So even if they switch to a new service, they have to migrate their Storj data to the new service and/or maintain customers’ access to the past 30 days.
I doubt that Storj sent email notifications to all their customers that they were filing for Chap 11, so many people probably don’t even know about it.
You’re thinking of Chapter 7, not Chapter 11.
Chapter 11 is not “company shuts down and stops doing business.” It is specifically a process that allows a company to continue operating while restructuring its obligations under court supervision. Customers can keep using the service, revenue can keep coming in, and vendors can keep getting paid.
Fair enough, but… why would they?
Storj was “different” enough to be a tough sell and now it’s doubly so.
Perhaps it’s a perception thing: I get the impression that Europeans are very risk averse and take a very dim view to anything suggesting bankruptcy, Americans a lot less so (and the results show).
I don’t know if Inveniam is to blame but the fact is storj former management was selling down its treasury and paying themselves with the token money as bonuses right before selling to Inveniam. Its starting to look like former ceo was trying to deplete the treasury to enrich himself/insiders before selling to Inveniam.
There is absolutely no transparency with these guys. They used to disclose treasury and income reports, but that stopped about two years ago.
The only bit of respect people have left for the company is that they filed Chapter 11 instead of Chapter 7.
Bull case: They have a working system and a real product that functions.
Bear case: Their reputation is shot. They’ve had questionable CEOs and poor management, and even worse, they were acquired by another company that now has its own serious questions surrounding it.
They need to separate themselves from the past and rebuild their reputation. Once revenue becomes positive, they should start slowly rebuilding the treasury. That would help restore confidence and attract investors.
Most importantly, they need to be transparent again.
Hi everyone,
We have seen the thread and the document behind it, and we want to address it directly.
First, what the document actually is. It is an anonymous, unsigned packet that was mailed to the court clerk and scanned onto the docket. It is not a filing by any party to the case, it is not a complaint, and it is not a finding by the court. Appearing on a docket means an envelope was received and scanned, nothing more. We would ask everyone to keep that distinction in mind before treating any of it as fact.
On the substance: the allegations of fraud and wrongdoing are false. We understand why serious-sounding claims, wrapped around a few real and public details, land the way they do, and we are not going to wave them away. We are preparing a fuller response and are reviewing the document, including the fact that it reproduces confidential business materials, with counsel.
What has not changed, and what matters most to the people here: the network is operating normally, and the Chapter 11 process is a reorganization intended to resolve legacy obligations while operations continue. Storj Labs, Inc. filed voluntarily on July 26, 2026 in the United States Bankruptcy Court for the Northern District of West Virginia, Case No. 5:26-bk-00512.
If you have specific questions, email us at community@storj.io and we will get to them. We would rather answer you directly than have the gaps filled by an anonymous document.
Thank you for your patience while this matter is addressed.
S Shuja Ali
Storj Vice President and Chief Restructuring Officer
There are three separate things:
Culturally: what you say could as well be the case. “bankruptcy” may be carrying more stigma in Europe. In the US, Chapter 11 is a restructuring process. Companies go through it and keep operating. For example, I don’t know: United Airlines, General Motors, Hertz, Kodak 
Financially: Storj’s condition may still be a valid reason to reassess the risk of doing business with them. And yet,
Operationally: if the service works, the data is there, and the contract is being honored — why leave? Nothing is forever, every single service will eventually die, but moving (and finding where to) terabytes of data because maybe service may cease to exist would be a waste of everyone’s time, especially since there is no indication of storj going anywhere, on the contrary, this is a net positive. Chapter 11 now is how you avoid Chapter 7 in the future.
What matters most to the people here is not only that network is operating normally (thanks to SNOs) but why your team keeps ignoring questions about payments for services that SNOs provide. 4 days ago your team was asked multiple times here https://forum.storj.io/t/storagenode-payout-update-august-prepayments-and-july-2026-status/ why every node received 10-20% less than expected for July (which you called August’s prepayment). Still no answer. Instead of defending Inveniam you should pay attention to this much more important question.
Lol. Much more important question.
Can’t make that up. Yes, Andrew, your 20% is the most important, of course. Inveniam, restructuring, layoffs — nah, let’s focus on the 20% difference in an approximated prepayment you did not know you were going to get in the first place.
Is this final? Is Inveniam giving up on Storj? Are they willing to sell it?
We found a bug, need to prepare numbers, so thank you for your patience. If you’d agreed to cooperate, the bug would have been found sooner. Thanks to the other Operators, who helped to narrow it down.