Ziglu has entered special management following the Financial Conduct Authority’s (FCA) cessation of operations due to insolvency. Clients currently face suspended withdrawals.
The firm’s losses have surpassed £24 million, significantly impacting liquidity, as funds remain inaccessible for clients. This situation arose amidst ongoing regulatory actions.
The crisis illustrates vulnerabilities within crypto platforms, emphasizing the need for robust regulatory frameworks to protect investments and maintain market stability.
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