Crypto.com’s Card Issuer Wirecard Files for Insolvency
Before Wirecard's insolvency filing, Crypto.com and TenX said customer funds were unaffected by their partner's accounting scandal.
Jan Marsalek, a former board member of Wirecard who is wanted over allegations of fraud, is reportedly being sheltered in Moscow by the biggest Russian secret service.
Germany's finance and accounting agencies seem to have missed their chance to spot a $2.1 billion black hole in Wirecard's accounts.
According to the Wirex’s announcement regarding the partnership, existing Wirex card customers in the region have already been ported to Railsbank-issued cards.
Following a sharp drop in the Wirecard stock price, the German shareholders' body holds EY responsible for not alerting the public sooner over the firm's accounting failures.
Card issuer Crypto.com is refunding 100% of customer balances after the U.K. regulator ordered Wirecard Card solutions to cease operations.