Crypto Exchange LBX faces liquidation

Monday 10 February 2020 13:53 CET | News

UK-based crypto exchange LBX has been announced as the latest digital asset trading venue to face critical difficulties and is now being liquidated.

London Block Exchange Limited (LBX), currently known as Dragon Payments Limited, opened in November 2017 for OTC trades and provided crypto exchange services to retail consumers and institutional investors via an online platform and through a mobile app. The company has been placed into compulsory liquidation, which follows a winding up order that was made against the company on 31 January 2020. News Bitcoin reveals that this is a legal term for when someone applies to the court in the UK asking to close down a company if it cannot pay its debts.

Moreover, representatives of David Rubin & Partners were appointed joint liquidators of LBX on 4 February 2020 by order of the UK’s Secretary of State. The joint liquidators and their team are said to be working toward resolving client concerns as a matter of priority. These concerns include the recovery of any sums of money owed to them. Also David Rubin & Partners are also in charge of all claims for repayments that should be addressed to them directly.

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Keywords: UK, cryptocurrency, exchange, LBX, liquidation, digital assets, laws, payments , security, OTC, trades
Categories: DeFi & Crypto & Web3
Countries: United Kingdom
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DeFi & Crypto & Web3

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