Officials have announced UK Crypto Currency trading platform Cubits (Dooga) have been declared bankrupt, after being hacked last year by Chinese traders.
Hacked
It was back in February 2018, Chinese traders bought Bitcoins on Cubits, using the payment system PaySec (a Malta based payment system), Dooga never received payments for the transaction and were left with a huge debt of $39.7 Million. Dooga have tried relentlessly to recoup the funds lost, to no avail.To add insult to injury, the companies payment coordinator Elosie Debono is claimed to be a part of the ponzi scheme OneCoin, flagging up all kinds of malpractice throughout authorities globally. The revelation came about after private detectives looked in to Debono’s LinkedIn account.
Withheld payments
Customers are up in arms, as payments have been withheld with no clear explanation as to what had happened. Users were fuming as they had to wait weeks for withdrawals.Finally, it was a ‘tweet’ that revealed the company had gone in to administration.Ironically, the then head of Crypto Currency business Max Krupyshev left his job shortly after the troubles were reported, leaving a massive clean up operation for the new administrators.The new administrators have assured users their goal right now is to ”achieve the best outcome for creditors generally at the earliest possible date.”