CoinWorld reported on July 13 that Ziglu, a UK cryptocurrency fintech company that collapsed earlier this year, has a funding gap of £2 million ($2.7 million), leaving thousands of depositors at risk of losing their investments. According to CoinWorld, due to increasing concerns about the company's financial management, it was placed under special administration last week, having already suspended withdrawal services in May. Ziglu attracted around 20,000 customers with promises of high returns. However, its products lacked protections or safeguards, allowing the company to use customer funds for daily operations and loan activities. After the UK's Financial Conduct Authority (FCA) intervened in May, withdrawal operations were frozen, and depositors' funds were frozen for several weeks.