Gibraltar court freezes crypto assets in hunt for missing $43mn

Liquidators for Globix, a collapsed cryptocurrency trader, have secured a court order that freezes digital assets and forces crypto exchanges to hand over customer information as they search for $43mn of missing funds in Gibraltar, threatening the jurisdiction's ambitions to become a world-leading c

April 26, 2023 . 5:23 PM

1 min read

Globix, a collapsed cryptocurrency trader, is being investigated by insolvency lawyers for around $43mn of missing funds.
A court injunction in Gibraltar froze digital assets and forced crypto exchanges to hand over customer information.
Binance, the world’s largest crypto exchange, was ordered to halt attempts to move assets from several Globix-linked crypto wallets.
The majority of missing funds were held in tether, a stablecoin pegged to the dollar and widely used to move funds between sovereign money and crypto.
The case highlights the need for firms to be licensed and supervised in order to provide adequate standards of consumer protection.