The disappointing results coincide with the recent downfall of two leads in the film.
The company started backpedaling shortly after rumors of a cash crisis began to proliferate, shutting down operations in markets around the world.
The Chinese bike-sharing firm has been teetering on the edge of bankruptcy.
News of ofo CEO Dai Wei’s appearance on the blacklist marks another stage in the company’s downward spiral.
The amount of money the company now owes to users is estimated at more than RMB 1 billion.
Some users have reported waiting up to a month for their money to be returned.
It may spell more restricted mobility for China’s many bike-rental users.
ofo says the claims are untrue but admits to graying out the refund button to retain users.
The company reportedly inked the deals at 10% to 20% below the going price for acquiring new users.
The company’s ability to pay back users’ deposits has been questioned after rumors of acquisition and insolvency.