New Zealand Crypto Exchange Dasset Begins Voluntary Liquidation, Customer’s Assets Frozen

New Zealand-based crypto exchange Dasset has begun the process of voluntary liquidation. The company notified its customers of the news in a post on its website on May 26th, announcing that they had appointed a liquidator to handle their voluntary winding up.

Dasset noted that the decision was “due to the ongoing challenges of effectively operating in our current environment, and to ensure that the best interests of our customers and shareholders are protected”. As of the time of the announcement, the exchange had frozen all customer crypto assets, preventing deposits and withdrawals, in order to protect the customers’ funds.

The liquidator, Daryl Blair of HayesKnight, has been appointed by the High Court of New Zealand and tasked with returning all customer funds and asset in a manner that best serves the interests of customers. Dasset has encouraged customers to register claims for funds and assets they believe they are owed as soon as possible.

The voluntary liquidation of the exchange signals the death knell for Dasset, which launched in 2018 and made a name for itself by offering a range of services such as margin trading, OTC trading, asset management, and low-fee crypto-fiat conversions. However, it appears that the exchange was not able to stay afloat in the long term.