Document Reveals Gatecoin has Begun its Liquidation Process

Gatecoin, a Hong Kong cryptocurrency exchange, was issued a liquidation order by the court last month and had to stop operating immediately. According to an email from last Thursday (28th), Borrelli Walsh has been appointed as the liquidator to deal with related matters.

Gatecoin was established as early as 2013. According to the contents of its website, the company mentioned that the company has been in financial difficulties for some time and cannot support operations. In September last year, other service providers were transferred, but a large number of funds were accumulated in the hands of the French payment service provider. “If you wish to file a claim against Gatecoin, please complete the enclosed proof of debt form and return it,” stated a letter issued by Gatecoin. The letter also stated that it would cooperate with the liquidation process and hoped to redistribute the remaining assets to creditors more quickly.

The company’s founder and chief executive, Aurélien Menant, responded at the time, saying only that he was negotiating with the provisional liquidator and had no time to explain more details about the company’s liquidation, but indicated that it would announce the latest development as soon as possible.