Digital Surge Into Voluntary Administration
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An editor at Coincrop
09 Dec 2022 | 2 min read
ryptocurrency broker Digital Surge goes into administration, as the FTX fallout continues
Tens of thousands of Australian investors with superannuation and savings tied up in cryptocurrency remain in suspense, as a major Australian broker collapses into voluntary administration.
Digital Surge froze the trading accounts of its 30,000 clients last month. This means people with money in the broker cannot access their funds.
Now, a month later, the Brisbane-based cryptocurrency broker has entered voluntary administration.
Digital Surge's administrators KordaMentha confirmed the company had about 30,000 clients and had been offering them trading in more than 300 cryptocurrencies.
The woes being experienced by Digital Surge are tied to the collapse of the global crypto exchange FTX.
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