Digital asset custodian BitGo refused to allow Alameda Research to unwind $50 million worth of wrapped bitcoin days before the latter firm went into bankruptcy, BitGo CEO Mike Belshe said today in a Twitter Spaces hosted by crypto MakerDAO delegate and founder of Blec Report Chris Blec.

Belshe said that someone from Alameda contacted BitGo about unwrapping 3,000 WBTC ($50 million) to get back bitcoin days before the Nov. 11 bankruptcy filing. He noted that the redemption request was unusual because it came from an Alameda representative that BitGo had not dealt with previously.

“So, we [Bitgo] held it up and said this is not what a burn looks like and we need to know who this person was,” Belshe said. “While we were holding it, waiting for a response on those issues, they [Alameda] went bankrupt and of course, once they went bankrupt, everything halted.”