/ 08 December 2021

Another crypto exchange bites the dust

Image source: MyCryptoWallet
Image source: MyCryptoWallet

One of Australia’s largest cryptocurrency exchanges is being wound up by liquidators, leaving investors in the lurch. MyCryptoWallet – which allows people to buy and sell digital currency such as Bitcoin – is the second exchange in as many months to collapse in Oz. Corporate watchdog ASIC was said to be investigating multiple complaints of missing funds, and now it’s believed that some 20,000 customers have lost their digital currency. That’s because unlike regular banks, the cryptocurrency sector is unregulated and that means customers have no guarantee their funds are safe. The crypto community suffered another loss recently – Mr Goxx, the currency trading hamster, died recently. After his final day of trading on 22 November, his hamster-sized crypto portfolio was up 19.7%. Vale, little guy…

Know someone who'd be interested in this story? Click to share...

The Squiz Today

Your shortcut to being informed, we've got your news needs covered.

Get the Squiz Today newsletter

Quick, agenda-free news that doesn't take itself too seriously. Get on it.