Investigations into Bankruptcies of Cryptocurrency Exchanges from 2020 to 2024

The current and ongoing investigations into bankruptcies of cryptocurrency exchanges from 2020 to 2024 are below, along with their source URLs for further reference.

Please note that some specific links have been removed due to inactivity are several years old, but the main source URLs have been maintained.

These sources provide detailed insights into each case and the ongoing investigations surrounding these bankruptcies.

1. Mine Digital (2022)
– Australian crypto exchange, collapsed with a $15 million deficit. Australian authorities are investigating.
– [Source]( https://www.hedgewithcrypto.com )

2. Zipmex (2022)
– Thai/Singaporean exchange filed for bankruptcy protection, halted withdrawals due to a $53 million deficit.
– [Source]( https://www.hedgewithcrypto.com )

3. Babel Finance (2022)
– Filed for bankruptcy owing $280 million. Currently raising funds to repay creditors.
– [Source]( https://www.hedgewithcrypto.com )

4. Hodlnaut (2022)
– Singapore-based platform facing a $189 million loss, with ongoing disputes between creditors and the board.
– [Source]( https://www.hedgewithcrypto.com )

5. Blockchain Global (2020)
– Parent company of ACX, went bankrupt owing $21 million. Accused of misappropriating customer funds.
– [Source]( https://www.hedgewithcrypto.com )

6. Cryptopia (2020)
– New Zealand exchange hacked in 2019, leading to $16 million in losses and subsequent bankruptcy.
– [Source]( https://www.hedgewithcrypto.com)

7. QuadrigaCX (2019)
– Canadian exchange went bankrupt after CEO’s death, which led to $215 million in inaccessible funds.
– [Source]( https://www.beincrypto.com/top-crypto-bankruptcies )

8. Cred (2020)
– U.S.-based crypto lending platform filed for Chapter 11 due to fraudulent activities and poor investments.
– [Source]( https://www.justice.gov/usao-ndca/pr/former-ceo-cfo-and-cco-cred-llc-charged-alleged-multi-million-dollar-cryptocurrency )

9. FCoin (2020)
– Singapore-based exchange declared bankruptcy due to financial mismanagement and fraudulent activities.
– [Source]( https://www.beincrypto.com/top-crypto-bankruptcies )

10. ACX (2020)
– Australian exchange declared bankruptcy due to investor losses worth $10 million.
– [Source]( https://www.beincrypto.com/top-crypto-bankruptcies )

11. FTX (2022)
– Filed for bankruptcy with ongoing legal battles over fraudulent activities and asset recovery.
– [Source]( https://law.justia.com )

12. FTX Trading Ltd. (2022)
– FTX’s collapse caused significant market disruption. Sam Bankman-Fried, FTX’s CEO, was arrested for various alleged crimes, including wire fraud and securities fraud. The investigation is ongoing, with significant findings about corporate mismanagement and misuse of funds.
– [Source]( https://www.americanbar.org )

13. Genesis Global Holdco, LLC (2023)
– Genesis Global, a major crypto lending and trading firm, filed for Chapter 11 bankruptcy due to exposure to the collapses of LUNA and Three Arrows Capital. Investigations and class-action lawsuits are ongoing.
– [Source]( https://www.dgtlinfra.com )

14. Core Scientific Mining LLC (2022)
– One of the largest publicly traded cryptocurrency mining companies filed for Chapter 11 due to financial difficulties caused by declining Bitcoin prices and rising electricity costs. The restructuring process is ongoing.
– [Source]( https://www.americanbar.org )

15. Mirror Trading International (MTI) (2022)
– MTI’s CEO was arrested for operating an unlicensed commodity pool scheme, accepting Bitcoin under false pretenses. MTI’s bankruptcy proceedings are ongoing, with recognition in both the U.S. and South Africa.
– [Source]( https://www.dgtlinfra.com )

16. Zipmex (2022)
– This Southeast Asia-based exchange faced financial distress due to defaults by major borrowers like Celsius Network and Babel Finance. The company is undergoing restructuring in Singapore.
– [Source]( https://www.beincrypto.com )

17. Bittrex Inc. (2023)
– Bittrex filed for bankruptcy amid charges from the SEC for operating an unregistered securities exchange. The company is navigating significant legal challenges and enforcement actions.
– [Source]( https://www.americanbar.org )