Company Loses Access to Crypto Wallets, Misuses Customer Funds

The Nevada state regulator, FID, has revealed alarming details about the cryptocurrency company Prime Trust, which has been rumored to be on the brink of bankruptcy. The company is alleged to have lost access to old wallets in 2021 and used customer funds to cover the losses. Furthermore, the company reportedly has a debt of $85 million in fiat currency, with only $3 million in fiat currency funds, and a crypto debt of $69.5 million against $68.6 million in crypto assets, operating with a $12 million equity deficit. The post Company Loses Access to Crypto Wallets, Misuses Customer Funds appeared first on COINOTAG EN .