Crypto[dot]com to refund clients as Wirecard told to cease operations

posted 3 months ago
Crypto[dot]com confirmed it’s moving to refund customers as the UK regulator orders Wirecard’s card issuer to cease all operations immediately. Crypto[dot]com CEO Kris Marszalek said they were refunding 100% of customer funds as the Financial Conduct Authority (FCA) suspended the activities of Wirecard Card Solutions, a subsidiary of the Wirecard Group, which filed for insolvency on Thursday after admitting last week to be missing $2.1 billion.

“We will rapidly proceed to credit the funds back to our users crypto wallets,” Marszalek said All funds will be refunded in the next 48 hours. The financial watchdog (FCA) said it had stepped in to protect customer funds and would prevent the company from accepting or disposing of any more revenue.
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