StormX (STMX), a blockchain-based platform offering crypto rewards, has announced it is filing for Chapter 7 bankruptcy. The announcement, made via X, signals an immediate cessation of operations for the project. Chapter 7 bankruptcy, the most common type in the U.S., involves a court-appointed trustee liquidating the company's assets. These assets are then distributed to creditors to settle outstanding debts. This action indicates a significant downturn for the StormX project and its users. Users holding STMX tokens should consult with a financial advisor to understand potential implications. ```