Collapsed UK Crypto Firm Ziglu Reveals $2.7M Shortfall, Imperiling Investors
2025-07-14 04:55:46
Main Idea
The collapsed UK-based crypto firm Ziglu has a $2.7 million shortfall, leaving 20,000 customers unable to access their funds, and administrators are now seeking buyers for the company.
Key Points
1. Ziglu, a UK crypto firm, has a $2.7 million (£2 million) shortfall, putting investors at risk.
2. The Financial Conduct Authority (FCA) suspended withdrawals, leaving 20,000 customers unable to access their funds.
3. Ziglu was once valued at $170 million and offered an investment product called 'Boost' with returns up to 6%, but allegedly used customer funds when returns failed.
4. Administrators from RSM are now seeking buyers for the company.
Description
Administrators of a collapsed UK-based crypto firm have identified a $2.7 million shortfall, increasing the risk of total investment loss for some customers. Management Accused of Misappropriating Customer Funds Administrators for Ziglu, the collapsed United Kingdom-based crypto firm, have reportedly uncovered a shortfall of $2.7 million (£2 million), raising the likelihood that investors may lose
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