Investors frozen out of crypto exchange CMBDEX for almost 3 years
Exchange also not regulated by Payment Services Act which came into force in January 2020; tie-up with Kopitiam stopped in May 2020
Singapore
MORE THAN 2,000 investors have been left out in the cold after a local company, which launched an initial coin offering at the height of 2018's crypto boom, appeared to have evaded time and again requests to cash out.
For nearly three years, investors were told they could not sell their tokens because of "technical difficulties". But sources The Business Times spoke to alleged that this was a deliberate attempt by the digital token exchange to lock in their money.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Neuralink says implant had issues after first human surgery
Carsome hits first Ebitda positive quarter in Q1 2024
Square Peg to raise another US$550 million fund in the second half of 2024
Mirxes records US$58.7 million operating losses and US$24.2 million revenue in lead up to HK listing
Perfume subscription service I’vre closes, amid police probe on unfulfilled orders and refunds
Indonesia agritech startup Elevarm bags US$2.6 million in seed round led by Insignia