Einstein crypto exchange which owes users $12M has been seized by Canadian authorities

posted 14 days ago
Canadian securities regulators have seized control of the Einstein cryptocurrency exchange. The British Columbia Securities Commission (BCSC) announced Monday that it had filed to take control of Einstein Exchange after the platform said on Oct. 31 that it planned to shut down its operations within the next 60 to 90 days. Einstein owes its customers $12.4 million ($16.3 million CAD), according to a court filing.

The Supreme Court of British Columbia granted the BCSC’s order and appointed accounting firm Grant Thornton as interim receiver to take control of the Vancouver-based exchange’s assets, going so far as to authorize Grant Thornton to take possession over any of Einstein’s properties and assets. A court order authorized Grant Thornton to forcibly enter any of Einstein’s business premises if necessary.
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