According to PANews, the Boost account service of the UK crypto platform Ziglu has been frozen, and customers are unable to withdraw funds. This service offered up to 6% interest on crypto asset holdings but is not regulated by the FCA.
The FCA issued a restriction order on May 16, prohibiting Ziglu from disposing of Boost account assets. The platform stated that it is working with regulators to develop a fund return plan, promising to provide updates by June 13.
Customers reported that their accounts have been frozen for over two weeks. Although the platform claims that the funds are risk-free, the lack of specific security measures has raised concerns. Ziglu's CEO stated that there are plans to transfer assets to a regulated fiat account within June.