A representative from New Zealand-based crypto exchange company, Dasset, revealed the beginning of its liquidation. In addition, Customers of the Auckland-based cryptocurrency exchange are not able to access their money.
Many customers’ accounts have been locked out, and their tens of thousands of dollars worth of crypto trapped, according to the report in the New Zealand newspaper.
The company’s CEO, Stephen Macaskill, said that Dasset was not able to find the banking provider after the provider stopped working with the exchange in January 2023. The company launched the liquidation voluntarily.
The Dasset website now directs users to an announcement from the law firm Grant Thornton that tells about the liquidation of the exchange. David Ruscoe and Russell Moore have been appointed as liquidators of Dasset.
Grant Thornton’s announcement cites, “Dasset’s management says a significant reduction in asset values and trading levels impacted its ability to trade profitably. It was determined the appointment of liquidators was in the best interests of all stakeholders.”
Grant Thornton will get in touch with all of Dasset’s customers and suppliers in the coming days and promises to continue concentrating on “securing and protecting” Dasset’s assets.