- 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.
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