Cred, a US-based cryptocurrency lending service, filed for bankruptcy on Saturday.
According to court documents, the company filed for bankruptcy in the District of Delaware on November 7.
In particular, Cred has reported it has between $50M and $100M in assets and between $100M and $500M in liabilities.
Now, the users of the service are trying to find ways to recover their funds. Cred has reported it has decided to file for Chapter 11 bankruptcy protection in order to "maximize the value of its platform for its creditors."
It should be noted the news comes just two weeks after the company announced on October 28 it was suspending deposits and withdrawals for two weeks. At that time, the platform reported the measure was not related to any kind of criminal investigation, but that it was collaborating with the authorities "to help investigate irregularities in the handling of specific corporate funds by a perpetrator."
The platform's site displays information about the bankruptcy filing. However, some users have reported they have not received any notification from Cred and fear that their funds are not secure.
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