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South African Cryptocurrency Exchange iCE3 Goes Into Liquidation
The company told customers withdrawals from the platform have been disabled, and they will get further details Wednesday.
South African cryptocurrency exchange iCE3 has gone into liquidation after it claims to have found “discrepancies” in its balances in March.
STORY CONTINUES BELOW
In a company announcement posted Tuesday, the exchange said, “We regret to inform you that the platform will not return to operation and that we have been advised to initiate liquidation proceedings.”
iCE3 told customers that withdrawals from the platform have been disabled, and they will be provided with further details on Wednesday. CoinDesk has reached out to iCE3 seeking more information but did not receive a response by press time.
Read more: iCE3 Exchange Halts Bitcoin, Litecoin Withdrawals After ‘Discrepancies’ Found
In March, iCE3 shared a blog post urging users to withdraw cryptocurrency holdings from its platform after finding discrepancies in its balances. The exchange said it is still waiting on confirmation of results by the auditing team, and based on the advice of its legal and auditing team, it had suspended deposits and trading in bitcoin and litecoin.
One exchange user emailed CoinDesk complaining his or her cryptocurrency holdings remain locked, and about the lack of communication from the exchange.
“No communication has come from [iCE3], except for blog statements, which tell us nothing about what has happened,” said the exchange user.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
