Ziglu's financial mismanagement leads to a £2 million funding gap, putting thousands of depositors at risk and highlighting regulatory concerns in the UK crypto sector.
Ziglu, a UK cryptocurrency fintech, has reported a £2 million funding shortfall, endangering approximately 4,000 depositors' investments. The firm entered special administration after a withdrawal suspension in May, revealing financial mismanagement. Directors are accused of misusing funds from the 'Boost' product, which promised up to 6% returns but lacked adequate safeguards. The FCA intervened, freezing withdrawals and leaving customers without access to their funds for weeks.