Australian cryptocurrency exchange MyCryptoWallet has appointed liquidators SV Partners after the exchange's clients lost hundreds of thousands of dollars in cryptocurrencies. According to The Sydney Morning Herald, the appointment indicates that the Melbourne-based trading platform failed to overcome the collapse. The scale of the incident remains unclear.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Earlier, The Age and The Sydney Morning Herald found that the exchange was barely functional. Many users reported issues with accessing or withdrawing their funds, while others said their funds had disappeared entirely.
However, the media outlets do not suggest that the exchange's founder, Jaryd Koenigsmann, is responsible for the incident. It remains unclear what return, if any, MyCryptoWallet's clients will receive. A spokesperson for SV Partners has urged those impacted by the collapse to contact the firm.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.