But now it does. After the filing for bankruptcy was initially not processed due to a lack of an advance on costs, COINTED’s bankruptcy proceedings were instituted. It will be the final chapter of the notorious Austrian crypto-startup but probably not for its managers and shareholder. They will most certainly face a criminal investigation by the respective authorities.
Bankruptcy proceedings were instituted at the Innsbruck Regional Court on 8 October against the assets of COINTED GmbH in Kufstein, according to the Austrian KSV 1870. This is reported by KSV 1870. Wolfgang THALER is the established managing director and COINTED Limited, which is based in Hong Kong and is owned by Christopher RIEDER, Wolfgang THALER, Charli AHO and Daniil ORLOV (25% each).
Creditor claims can be filed by November 19 (court filing deadline) via KSV1870.
“We do not have any concrete information regarding the causes of insolvency, assets a, d debts. We will collect these in detail in cooperation with the insolvency administration. In particular, the insolvency administrator will examine the cash flows of the debtor’s company during the last months prior to the opening of insolvency proceedings,” said a spokesman of KSV1870.
The Austrian law firm Hochstaffl & Rupprechter was appointed the administrator of the Cointed bankruptcy. The first audit and reporting statutes were set for 3 December.
We will get in touch with the administrator as well as with KSV 1870 and provide the best possible support in clarifying the complicated matter. Given the countless companies around COINTED and their managers, the liquidator will need every clue to find the money and assets for the creditors. Ultimately, COINTED has received many millions of customers and investors over the past 18 months.
It starts the last chapter of the Crypto Crime Case COINTED and its processing. An important step for the restoration of hygiene in the Austrian crypto scene.