13 Mar, 2023 @ 18:51
2 mins read

EXCLUSIVE: Giant crypto exchange Globix goes into liquidation amid rumours of missing €70 million

Globix

Have you invested money with Globix? Contact us [email protected]

A LEADING UK liquidator has been brought in to close down crypto company Globix which is suspected of defrauding hundreds of investors in Spain and Gibraltar.

The development comes after the Olive Press broke the news last week that the trading platform had lost as much as €70 million of its users’ funds.

The giant crypto platform had been set up under a British Virgin Islands-based parent company called ‘Miracle World Ventures Limited’ with close links to Gibraltar, it can be revealed.

Liquidators Begbies Traynor said that the process will now ‘take time’ but the London-based firm will provide regular updates to worried investors.

This includes what it terms, a ‘virtual town hall meeting’, next Monday.

Investors will now have to wait with bated breath as they seek to find out if they will be able to claw back at least their initial investment into the trading platform.

In a press release sent to the Olive Press, Begbies said it was ‘developing a strategy to protect the assets of the company and those under its management for the benefit of the creditors’.

It added it was tasked to ‘establish the circumstances leading to the liquidation.’

Globix, which has been refusing to honour withdrawals for almost a year now, had been telling beleaguered investors it was due to a ‘payment processing failure.’

The Olive Press revealed last week that the kidnapping of a Russian businessman and his girlfriend in Alicante last year was linked to the crash.

It happened after a group of disgruntled investors banded together to kidnap Globix chief technical officer Pavel Sidirov and his wife outside their luxury El Campello villa in June.

Sidirov, a Russian national who founded his platform in Gibraltar with a local businessman, managed to activate a failsafe device which sent the codes to his partners in Kyiv.

The process of recovering the funds has been increasingly murky ever since, with various investors telling the Olive Press of their ‘frustration and anger’.

One well-known Gibraltar-based financial administration firm was brought in by Globix to attempt to solve the issue.

It had been communicating to investors that the codes for the exchange’s crypto wallet had been sent to an IT company in Ukraine.

However, monthly updates to investors, seen by the Olive Press, suggest that despite bringing in the Ukraine Ministry of Finance and after various arrests there, no money has been forthcoming.

When contacted for comment today, the Globix CEO, a well known Gibraltarian with links to government ministers and Ministry of Defence according to his LinkedIn profile, told us: “I have nothing to say to you.”

A source in the Gibraltar business community said that the story had sent shockwaves around the peninsula since it was published by the Olive Press last week.

“Everyone is talking about it and wondering who is involved and who set the company up,” said the source, who asked not to be named. “It’s a great story and will definitely gather heat.”

The statement issued today regarding Miracle World Ventures Limited (In Liquidation) operating as ‘Globix or Globix Cash’ announced that Brian Robert Simpson, Adrian Hyde and Joanne Wild, of Begbies Traynor (the Liquidators), were appointed on March 10.

It read: “Following their appointment, the Liquidators are making contact with all known creditors and investors/customers, who should expect to be contacted over the coming 2 days.

“In the meantime, if interested parties have any questions or matters that they wish to raise with the liquidators, they should contact: [email protected].”

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Walter Finch

Walter - or Walt to most people - is a former and sometimes still photographer and filmmaker who likes to dig under the surface.
A NCTJ-trained journalist, he came to the Costa del Sol - Gibraltar hotspot from the Daily Mail in 2022 to report on organised crime, corruption, financial fraud and a little bit of whatever is going on.
Got a story? [email protected]
@waltfinc

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