Cubits

We need to correct details that a few publications, including Bitcoinist, have published:
Cubits has no association with the OneCoin or any other "Ponzi" scheme.
https://bitcoinist.com/cubits-is-bankrupt -and-withholding-…/

PRESS RELEASE
NB - please also see our website for further updates - https://cubits.com/
Dooga Ltd, trading as “Cubits”, enters Administration
... - Dooga was victim of a serious criminal act - Impact on business led to decision to place company into Administration - Administrators appointed on 10 December 2018, securing current position
London, 11 December 2018 – Dooga Ltd, trading as “Cubits”, enters Administration. Dooga was victim of a serious criminal act. The impact on business led to decision to place company into Administration. Administrators appointed on 10 December 2018, securing the current position.
Dooga was the victim of a serious criminal act, perpetrated from outside the organisation, which has critically impacted its business and finally led to the difficult decision to place the company into Administration.
This decision secures the current position whilst the Administrators seek offers for the business and its assets. The role of the Administrators will be to work with those who are owed money by the Company and to collect monies that are owed. The key objective is to achieve the best possible outcome for creditors and recover as much as possible of the funds owed to the Company.
The criminal act happened in February 2018 and involved the accounts of three clients. Bitcoins with a market value at that time of approximately €29 million were properly delivered and subsequently withdrawn, with the customers apparently colluding with fraudsters. Dooga has never received the equivalent in fiat from the payment processor responsible for carrying out the transaction. Immediately after becoming aware of the act, Dooga has informed the responsible authorities in the UK, Malta and China as well as in Germany and has filed several criminal complaints.
Since February, Dooga has made every possible effort to recover these funds. Unfortunately – contrary to expectations – these efforts have been unsuccessful up until now. Amongst other measures, Dooga has filed two garnishee orders against the Malta registered payment processor which owes Dooga approx. €35 million, and commenced arbitration proceedings, with the largest share coming from the aforementioned transactions of the three account holders.
Due to the nature of the case, both Allister Manson, Technology Partner at Opus Restructuring & Insolvency, and Nicholas Parton, Head of Forensic Accounting at Opus, will also be closely involved in this case.
Steve Parker at Opus comments: “We have assembled a partner team from Opus with specialist expertise in technology, insolvency and forensic accounting. Our goal is to achieve the best outcome for creditors generally at the earliest possible date. Dooga’s current position is secure, investigations are proceeding and we will be writing to creditors, formally, this week.”
Press contact Louise Barker, Head of Communications Opus Business Services Group E: louise.barker@opusllp.com O: +44 (0) 20 7268 3333 M: +44 (0) 7976 241 424
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