- Dasset has been liquidated.
- Customers’ access to their funds is denied.
- An audit firm, Grant Thornton, has been appointed as a liquidator.
Dasset, Auckland-Based Crypto Exchange, Has Gone Into Liquidation
Dasset, an Auckland-based crypto exchange, has become liquidated, denying its customers access to their funds.
The Herald, a local media outlet, reported that Dasset customers are furious and desperate to withdraw their funds.
Some customers told the local news outlet of their futile attempt at withdrawing their funds from as low as NZ$3000 to NZ$40,000 for so many months.
Some of the affected customers have been trying to withdraw their funds for months, but neither the crypto exchange nor its staff has been responsive on the matter.
Stephen Macaskill, the company’s CEO, said,
“Dasset has not had stable banking since January. The banks do not like the crypto industry. Dasset has gone into voluntary liquidation.”
On Aug 7, Macaskill and the company’s shareholders had a meeting where he reportedly failed to answer the shareholders’ questions.
David Ruscoe and Russell Moore from the audit firm of Grant Thornton in New Zealand have been appointed as the liquidators of the crypto exchange.
Although the crypto exchange is yet to provide any information or announcement on the liquidation, new users can still open an account on Dasset.
Dasset’s website automatically redirects users to Grant Thornton’s website, where the details of the liquidation and a FAQ section are provided.
“We understand users and creditors will be disappointed by the news that Dasset has gone into liquidation. The process of securing the assets is complex; there are third parties involved and nearly 100 different types of digital assets,” Moore, one of the liquidators stated.
- “We will work with management and third parties to resolve any issues as soon as possible, and we will update all stakeholders on progress as regularly as possible,” he added.
The liquidators conveyed Dasset’s management statement which stated that the reduction in asset values and trading levels on the Dasset affected the exchange’s ability to trade profitably.
The liquidators also stated their plans to contact the customers to inform them of the appointment in a couple of days.
The New Zealand Financial Markets Authority has been made aware of the incident and it’s currently making investigations.
Dasset goes into liquidation like Cryptopia
Dasset’s liquidation is the latest unfortunate crypto issue in New Zealand. The country’s citizens suffered monetary loss during the collapse of Cryptopia, a New-Zealand based exchange.
Cryptopia started its operations as early as 2014, amassing millions of users. Due to technical issues, the crypto exchange paused sign-ups for a while.
After resolving the technical issues, Cryptopia was faced with unsatisfied crypto traders and then a security breach.
In 2019, 17,000 accounts were affected due to the hack. Some users speculated that the hack may be part of an exit strategy.
A few months later, the crypto exchange went into liquidation led by Grant Thornton’s audit firm.
About Dasset
Dasset launched its operations during the ICO waves of 2017. It is a cryptocurrency exchange known to support the trade of over 100 digital assets including Bitcoin and Ethereum. Dasset previously boasted of being New Zealand’s most advanced digital asset trading platform.
