A court-appointed liquidator, Dewald Breytenbach of National Liquidators, recently claimed that of the 76 bitcoins that belonged to the defunct South African cryptocurrency exchange, Ice3, his company could only represent 22.
Abrupt shutdown of Ice3
The liquidator adds that Zurich-based technology provider of crypto exchange Merkeleon is now being asked to help unravel this mystery.
These new revelations from the South African liquidator come some six months after Ice3 abruptly stopped processing withdrawals. At the time of the announcement, the exchange management claimed that the decision to halt BTC and LTC withdrawals was 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 problems faced by the exchange. Yet, according to an explanation now offered by a report from Moneyweb, Ice3’s management decision to halt withdrawals and cease trading could be linked to the exchange’s dispute with Europe-based Merkeleon.
Quoting Breytenbach, the report explains:
The problem [at Ice3] seems to have started when a dispute arose between iCE3 and its platform provider, Merkeleon, based in Europe.
The report also adds that the Ice3 management team felt that a partnership agreement existed with Merkeleon. Such a partnership meant that the crypto exchange through its CEO, Gareth Grobler, would develop the software on which Ice3 ran while Merkeleon took care of administration.
Therefore, in order to establish the exact nature of the arrangement, Breytenbach says he has been in contact with Merkeleon. The liquidator says he hopes his company will get the information it seeks soon.
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