Australian Bitcoin exchange myCryptoWallet in liquidation
Melbourne-based cryptocurrency exchange myCryptoWallet has been placed in liquidation.
Melbourne-based cryptocurrency exchange myCryptoWallet has been placed in liquidation.
The company, founded in 2017 by Jaryd Koenigsmann, claims on its website to be “Australia’s most advanced digital currency solution’’, however comments from frustrated customers on Twitter indicate they have found it difficult to withdraw their funds from the exchange.
In a series of exchanges on Twitter in April this year, the company’s account says that issues customers were having transferring funds out of the exchange had been resolved, however numerous customers disputed this.
On April 5 the company tweeted: “our customer support manager has reached out to all affected users and has finalised any pending account issues’’.
Several replies to this tweet and others indicate that users were still waiting for funds, or had not been able to contact the company at all.
“Please Jaryd can you help me get the last of my money out? It’s not much to you but it means a lot to me. I’ve sent heaps of emails and opened a lot of tickets on the site with no success,’’ one tweet reads.
“Sent an email over a day ago, no reply yet. Attempted to withdraw, error message and everything is gone...’’ says another.
One Twitter user, who goes by the handle Subsonix, also said they had not had a reply.
“No response via email. Outlined complaint. Will be filing complaint with ACCC, VCA and ASIC,’’ their tweet reads.
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The exchange says on its website that it provides “a user-friendly, customer-centric, all-inclusive digital currency service, with a serious and mindful approach to maintaining a high-level of security and customer safety’’.
“myCryptoWallet is an AUSTRAC regulated digital currency exchange that provides its users with the highest level of safety and security currently possible under international ... guidelines.’’
The company launched myCryptoCard in 2019, which it says was an eftpos-compatible card customers could use for everyday purposes.
There were reports in early 2019 that the NAB had closed myCryptoWallet’s bank account, with the exchange saying the bank “made absolutely no attempt to give us any reason or justification for why they have closed our business bank account’’.
The company’s website has a link dated 2018 to an “IPO Press Release” however the link goes to a blank page.
Mr Koenigsmann is the sole director and shareholder of the company.
He also founded pet classifieds site myNewPet which is currently inactive.
Terry van der Velde of SV Partners has been appointed as liquidator. The Australian has contacted SV Partners for further details.
The exchange has also been contacted for comment.
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