Australian-based crypto exchange Digital Surge will be able to continue its activities from where it left off, despite FTX losses.
Last year’s FTX crisis directly affected millions of investors, causing serious losses. In addition, many corporate companies faced bankruptcy processes with the FTX bankruptcy. The earthquake effect, where losses of tens of billions of dollars were spoken, pushed the crypto industry into bad weather conditions. However, Australia-based crypto exchange Digital Surge will be able to continue its operations despite its $23.4 million digital assets locked in FTX.
Digital Surge Will Start Its Operations
Australian-based crypto exchange Digital Surge has managed to survive despite its digital assets stuck in FTX.
Digital Surge creditors have confirmed that 22,546 customers whose digital assets have been frozen on the platform since Nov. In light of these reasons, Digital Surge has received approval for a five-year recovery plan.
The recovery plan was communicated to the customers via e-mail. The company announced that it will receive a loan of 884 thousand dollars from Digico and that the platform can continue its trading from where it left off.
Additionally, KordaMentha said, “Customers will be reimbursed in cryptocurrency and fiat depending on the asset composition of their individual claims.”
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