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BTCC / BTCC Square / Global Cryptocurrency /
British Crypto Firm Ziglu Collapses Amid £2M Shortfall and Frozen User Funds

British Crypto Firm Ziglu Collapses Amid £2M Shortfall and Frozen User Funds

Author:
Global Cryptocurrency
Published:
2025-07-13 12:55:01
16
3
BTCCSquare news:

Ziglu, a UK-based crypto fintech once valued at £126 million, has entered special administration after revealing a £2 million black hole in its finances. The platform, known for offering market-beating interest rates, suspended withdrawals in May following intervention by the Financial Conduct Authority (FCA).

Court documents allege directors misused customer funds from Ziglu's Boost Product—a high-yield investment offering—to prop up operations. Approximately 20,000 users remain unable to access their capital as administrators untangle the firm's finances. The collapse underscores ongoing challenges in crypto-native banking ventures.

|Square

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