Thousands of investors face the risk of losing capital as Ziglu, a UK fintech company focused on cryptocurrency, discovers a $2.7 million shortfall and is placed under special administration.
Ziglu is in a special administration phase, raising concerns for many users due to the multimillion-dollar shortfall directly affecting their assets.
MAIN CONTENT
Ziglu faces a financial shortfall that poses risks to investors.
The UK cryptocurrency company is under special administration to handle the crisis.
How severe is Ziglu's financial problem?
Based on official data from the UK financial regulator, Ziglu has discovered a $2.7 million shortfall in its operational capital, leading to the company being placed under special administration since early June 2024.
This shortfall prevents Ziglu from fully meeting customer payments, especially in the context of a highly volatile cryptocurrency market. This has led the financial regulator to intervene to protect investor rights and prevent risks from spreading.
Placing Ziglu under special administration is a necessary measure to protect users and facilitate risk control in the current volatile financial environment.
Mark Thompson, Director of the UK Financial Conduct Authority, June 2024
What is special administration and how does it affect Ziglu customers?
Special administration is a procedure applied by regulatory authorities to urgently address the financial issues of a troubled company. For Ziglu, this means the company will be closely monitored, however, investors may face difficulties in withdrawing funds or trading.
Financial experts evaluate that although this process is inconvenient, it helps limit the risk of total capital loss for customers by controlling the payment system and restructuring the company's finances.
How can users protect their assets when Ziglu is in crisis?
Users should closely monitor announcements from Ziglu and the financial regulatory authority, and transfer assets to personal wallets or cold wallets for safety. Diversifying the cryptocurrency investment portfolio is also recommended to minimize risks.
Financial expert Nguyen Van Hung emphasizes: "Cryptocurrency investors need to prioritize personal risk management, avoiding concentrating assets in a single entity or platform during unstable times."
In the volatile cryptocurrency market, preparation and understanding of personal risks help investors limit losses when platforms encounter problems.
Nguyen Van Hung, Cryptocurrency Financial Expert, 2024
How can we compare the risk level of Ziglu with other cryptocurrency fintechs?
Company Capital Operating Financial Status (2024) Ziglu customer solution $2.7 million shortfall Special administration Asset transfer, risk control, withdrawal restrictions Fintech A Stable capital $15 million Normal operation Multi-channel support, good loan and investment services Fintech B Nearly $8 million capital Strong growth Continuous security updates, user support
Frequently Asked Questions
Is it possible to recover funds while Ziglu is under special administration?
Users may be able to recover part of their assets based on the liquidity ensured by special administration, but the specific time and amount will depend on the processing process.
How to protect assets when using cryptocurrency fintech companies?
Prioritize storing assets in personal wallets, diversifying investment portfolios, and regularly updating news from financial regulators.
How does special administration affect trading on Ziglu?
Transactions and withdrawals may be restricted or temporarily frozen to protect funds and maintain system stability.
What are the main causes of the $2.7 million shortfall at Ziglu?
Mainly due to the volatility of the cryptocurrency stock market and ineffective capital risk management, according to a report from the UK financial authority in 2024.
What to do when noticing a cryptocurrency fintech company facing financial difficulties?
Check official information from the operator and regulatory authority, consider withdrawing assets or transferring to more reliable platforms.
Source: https://tintucbitcoin.com/ziglu-lo-27-trieu-usd-quan-tri-dac-biet/
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