New Zealand crypto exchange Dasset files for bankruptcy

A New Zealand-based crypto exchange Dasset has gone into liquidation. Clients are reportedly unable to reach their accounts.

The company’s CEO, Stephen Macaskill, said Dasset applied for voluntary liquidation. However, new users can still register on the website.

Advisory firm Grant Thornton was appointed as the liquidator for the company. Their press release reads:

“We understand users and creditors will be disappointed by the news that Dasset has gone into liquidation. The process of securing the assets is complex; there are third parties involved and nearly 100 different types of digital assets. We will work with management and third parties to resolve any issues as soon as possible.”

Dasset’s liquidator statement

Grant Thorton also said that the company will contact all the exchange clients and suppliers in the upcoming days, and an initial report will be available on the company website next week.

According to The Herald, the exchange’s clients cannot withdraw funds. Some claim that their accounts are unavailable. One client told the local newspaper that they could not withdraw $40,000, comprising all of their life savings.

Dasset was founded in 2017 in Auckland, New Zealand amid the peak of ICOs and survived the bubble that took place that year.