Courts have ordered ‘liquidation’ of the Hong-Kong based cryptocurrency exchange, Gatecoin. According to an announcement on their website.
On 13 March 2019, the court has granted a winding-up order against our company. A provisional liquidator has been appointed and we have to cease operation with immediate effect.
Nevertheless, the exchange assured its customers of reimbursement of their credit amount in due time.
Please rest assured that we will assist the liquidation process in order to expedite the realization and redistribution of our assets to the creditors.
Once again, we thank you for your support over the years and apologize for the inconvenience that may cause.
Riddled with Problems
Gatecoin’s winding-up orders came due to liquidity and insolvency problems in the exchange. The announcement on their website noted that they had entered into a dispute with their French Payment Service Provider (PSP).
According to the Annoucement on their webiste:
PSP failed to process most…
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