Ernst and Young has submitted a proposal to the courts suggesting the company’s restructuring should be move to bankruptcy proceedings.
The exchange has suffered million-dollar losses after the individual charged with maintaining crypto balances reportedly embezzled its funds.
The saga surrounding the QuadrigaCX cryptocurrency exchange out of Canada continues to move forward as law firms Miller Thomson and Cox & Palmer will represent more than 100,000 customers of the crypto exchange in the coming weeks.
Embattled cryptocurrency miner Giga Watt has been dealt another serious blow, with the news that the firm has been forced to shutter its day-to-day operations with immediate effect.
The UK-based cryptocurrency trading platform Cubits was one of several that lost a considerable amount of money from fraudulent activity this year.
U.S.-based crypto mining company Giga Watt has declared bankruptcy, with debts amounting to millions still outstanding to their creditors, according to a filing before a district court in New York.
The Wemovecoins cryptocurrency exchange has been forced into bankruptcy due to dispute between the company and a credit card vendor.
The lawyer appointed to oversee the Mt. Gox refunds, Nobuaki Kobayashi, has reportedly liquidated around $230 million worth of Bitcoin BCH and Bitcoin Core (BTC) in the past four months.
Corporate users can now start filing their claims with now-defunct Japanese cryptocurrency exchange Mt. Gox.
Mt. Gox has opened an online claim filing system allowing creditors to begin registering claims on the funds they had lost after the Tokyo-based crypto exchange filed for bankruptcy in 2014.