Recently, Vauld, a crypto-exchange, stopped all transactions- inflow, and outflow- claiming $198 million in client withdrawals. Now, users are impatiently waiting for Vauld to devise a plan to resolve the issue.
On the other hand, Nexo, a cryptocurrency lender, had approached Vauld to purchase all its assets. However, Vauld has yet to reveal information on how the talks with Nexo are being held regarding 100% acquisition.
Darshan Bhatija, Vauld’s co-founder, is in talks with the user community via Vauld’s official Telegram channel.
In one conversation, a user questions Darshan about what would happen if the deal did not succeed, to which he responded positively and revealed that Vauld plans to reveal more information about the backup plan soon.
It goes without saying that customers are worried about their funds, to which the co-founder said that fixed deposit investors would continue to earn interest even after they mature.
Though he spoke about the Vauld and Nexo deal, there was no information about the future deposits; however, he assured the users that there would be updates soon. He had a similar response when asked when operations were scheduled to resume.
One of the customers, Crypto Clown, raised a query, saying that no one has received reassurance about their funds from the Vauld team. Answering this, the co-founder said the team is always ready to support its users, and they can expect an email as reassurance soon.
Nevertheless, no matter what the co-founder and the team say, as a consumer, it’s essential to know and understand the status of Vauld’s balance sheet liability and the company’s recovery plan. As per Darshan, the details about the company’s plan to finance its liabilities will be available to the public anytime today.
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