South African cryptocurrency exchange iCE3 initiates liquidation proceedings
By Claire Hunte
14:37, 7 April 2021
South African cryptocurrency exchange iCE3 has informed users it has entered liquidation and disabled all withdrawals from the platform.
The company posted a statement on its website on Tuesday 6 April informing users "that the platform will not return to operation" and that it had been "advised to initiate liquidation proceedings".
Today it issued advice that: "All remaining assets (tokens and fiat) are now held in trust by Manong Badenhorst Attorneys and liquidation proceedings have been initiated."
Balance discrepancies halt trade
Discrepancies in balances relating to Bitcoin (BTC) and Litecoin (LTC) held on the platform were discovered on 16 March, according to the exchange. This led to the suspension of BTC and LTC withdrawals – and a suspension of all deposits and trading.
The exchange launched a full investigation and urged exchange users who held crptocurrencies other than BTC and LTC to withdraw funds as soon as possible, which have subsequently been processed manually.
Postings via Twitter and iCE3's blog have been directing exchanges users to contact help desk staff via help.ice3.com or email help@ice3.com.
Related topics