Home Scam/Fraud Crypto investors missing millions after 2 Aussie exchanges collapse

Crypto investors missing millions after 2 Aussie exchanges collapse

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In a warning to Australians investing in cryptocurrencies, 2 separate local exchanges have collapsed, leaving customers without their money.

A notice on the Australian Securities and Investments Commission website shows the exchange myCryptoWallet falling into liquidation last Friday.

The Motley Fool has contacted SV Partners, who has been appointed as liquidator, for comment.

The company’s website is still live as of Tuesday morning, but its Android smartphone app is no longer available and its Twitter account has closed.

According to The Australian, past social media posts indicated customers were having trouble withdrawing money out of the exchange in recent months.

Even though myCryptoWallet announced in an April tweet that those issues were “finalised”, many users replied that they still did not have access to their funds.

myCryptoWallet users with missing funds are instructed to contact the…

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