Cubits, a London-based digital asset trading platform, has been forced into administration after fraudsters reportedly stole €29 million (about $ 32.5 million) from the exchange in February. The company claimed “it fell victim” to an elaborate scam orchestrated in collusion with three of its clients.
Exchange Enters Into Voluntary Administration
The administration means that investors cannot deposit or withdraw funds until further notice. It’s not clear how much worth of bitcoin the exchange was holding on behalf of customers at the time of closure.