Fun

Liquidator of Defunct South African Crypto Exchange Says He Found a 54 BTC Discrepancy in Ice3’s Accounts

News Feed - 2021-10-18 06:10:08

Liquidator of Defunct South African Crypto Exchange Says He Found a 54 BTC Discrepancy in Ice3"s Accounts


A court-appointed liquidator, Dewald Breytenbach of National Liquidators, recently claimed that out of the 76 bitcoins that belonged to the now-defunct South African cryptocurrency exchange, Ice3, his firm can only account for 22. Ice3’s Abrupt Shut Down


The liquidator adds that the crypto exchange’s Zurich-based tech provider Merkeleon is now being asked to help unravel this mystery.


These new revelations by the South African liquidator are coming some six months after Ice3 abruptly stopped processing withdrawals. At the time of the announcement, the exchange’s management claimed the decision to suspend BTC and LTC withdrawals had been taken in order to protect users. However, just a few weeks after reassuring its users, Ice3 was abruptly shut down.


Some reports then attributed Ice3’s decision to cease operations to the liquidity challenges which were being experienced by the exchange. Yet, according to an explanation now being offered by a Moneyweb report, Ice3 management’s decision to suspend withdrawals and to cease operations could be linked to the exchange’s dispute with Europe based Merkeleon.


Quoting Breytenbach, the report explains: The problem [at Ice3] appears to have started when a dispute arose between iCE3 and its platform provider, Merkeleon, based in Europe. Partnership Arrangement


The report also adds the Ice3 management team was under the impression a partnership arrangement existed with Merkeleon. Such a partnership meant the crypto exchange through its CEO, Gareth Grobler, would develop the software on which Ice3 operated while Merkeleon took care of the administration.


Therefore, in order to establish the exact nature of the arrangement, Breytenbach says he has been in touch with Merkeleon. The liquidator says he is hopeful his firm will soon get the information it is seeking.


What are your thoughts about this story? Tell us what you think in the comments section below. Coinbase Launching NFT Marketplace With Social Features to Grow Creator Community "Exponentially" EXCHANGES | 6 days ago Major Turkish Crypto Exchange Coinzo Shuts Down EXCHANGES | 6 days ago Tags in this story BTC, Cryptocurrency, Cryptocurrency Exchange, Dewald Breytenbach, Ice3x, LTC, Merkeleon, Withdrawal Suspensions


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Moonpay and Looksrare Partner to Bring Convenient NFT Purchasing to the Masses
Moonpay and Looksrare Partner to Bring Convenient NFT Purchasing to the Masses On Thursday, the fiat-to-crypto onramp business Moonpay announced a multi-year partnership with the n
Criminals Target Privacy Coins: How To Avoid Downloading Fake Wallet Apps
Criminals Target Privacy Coins: How To Avoid Downloading Fake Wallet AppsReports in the past few weeks detail that bad actors are targeting two privacy coin projects, Monero and Zca
Metallica’s X account hacked to promote crypto token
Tom Mitchelhill7 hours agoMetallica’s X account hacked to promote crypto tokenThe official X account for Metallica was hacked, and exploiters posted about a Solana token dubbed METAL.3636 Total views6 Total sharesListe
Technical Analysis: Flow Moves Higher, as SHIB Climbs 12%
Technical Analysis: Flow Moves Higher, as SHIB Climbs 12% Following a 12% decline yesterday, shiba inu (SHIB) rose by that same percentage today, as bulls once again boarded the ro
Exodus CEO frustrated as SEC delays listing amid celebrations
Alek Hidell14 hours agoExodus CEO frustrated as SEC delays listing amid celebrationsExodus hits regulatory roadblock despite previous approval as “numerous employees and their families” arrive in New York City to fac
Rakesh Upadhyay5 hours agoBitcoin signals potential range expansion— Will SOL, LDO, ICP and VET follow?Bitcoin is holding above $26,500 and the price stability could lead traders to take a second look at SOL, LDO, ICP
Bank of Uganda Reportedly Commences CBDC Study
Bank of Uganda Reportedly Commences CBDC Study The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive wit
Bitcoin Hovers Near Price Support as Long-Term Bear Cross Looms
View BTC is on the defensive and may face selling pressure in the run up to the bearish crossover of the 100- and 200-day averages. Prices will likely breach the 50-day average support near $8,550 and extend losses towar
Zhiyuan Sun3 hours agoERC-20 inventor discusses origins, new blockchains, BRC-20 and moreFabian Vogelsteller has been working full-time to create his new blockchain since 2018, with its mainnet launching just this May.63
US SEC expected to deny spot Ether ETFs in May
Helen Partz12 hours agoUS SEC expected to deny spot Ether ETFs in MayOther evidence suggests that the SEC will likely delay the approval of spot Ether ETFs, with Ether ETFs trading in Hong Kong from April 30.4398 Total v
MetaGods Raises $3M Investment to Develop Play-to-Earn 8-Bit Action RPG
MetaGods Raises $3M Investment to Develop Play-to-Earn 8-Bit Action RPG press release PRESS RELEASE.MetaGods, the world’s first play-to-earn 8-bit action role-playing game bu
Brayden Lindrea7 hours agoNorth Korean crypto hacks down 80%, but that could change overnight: ChainalysisCrypto bad actors from the Democratic People’s Republic of Korea have stolen $340.4 million in 2023, down from $