Customers Struggle as Auckland Crypto Exchange Dasset Goes into Liquidation

Dasset Crypto Exchange goes into Liquidation, Customers Unable to Access Funds

An Auckland-based crypto exchange, Dasset, has gone into liquidation, leaving hundreds of customers unable to access their assets. The exchange has been unresponsive to customer requests, with some customers reporting that their funds have been locked for months. Dasset’s CEO, Stephen Macaskill, explained that the exchange has not had a stable banking provider since January, as banks are generally wary of the crypto industry. The exchange has not provided any updates on its website or social media pages regarding the liquidation.

Key Points:

Dasset customers are unable to access their funds.
The exchange has not had a stable banking provider since January.
Dasset has gone into voluntary liquidation.
Dasset shareholders held a closed-door meeting where a resolution was passed to appoint a voluntary liquidator.
David Ruscoe and Russell Moore from Grant Thornton New Zealand have been appointed as liquidators.

Liquidators Focus on Securing Dasset’s Assets

The appointed liquidators, David Ruscoe and Russell Moore from Grant Thornton New Zealand, are focused on securing and protecting Dasset’s assets. Grant Thornton stated that Dasset has experienced a significant reduction in asset values and trading levels, affecting its ability to trade profitably. The liquidators acknowledged the complexity of the process, involving third parties and nearly 100 different types of digital assets. They assured stakeholders that they will work to resolve any issues as soon as possible and provide regular updates on progress.

Hot Take:

The liquidation of Dasset crypto exchange highlights the risks and challenges faced by customers in the crypto industry. It serves as a reminder for individuals to carefully choose reputable exchanges and consider the security and stability of their chosen platform. The lack of communication and transparency from Dasset regarding the liquidation is concerning and demonstrates the need for increased regulation and accountability in the crypto space.