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Cubits Insolvency (February 2018)


Date: 12 Nov 2018

Estimated value:  

On December 11, 2018 Cubits became insolvent and cut off access to the platform to its users. Bankruptcy was a result of alleged debt of a $39.7 million caused by PaySec fraudulent activity in February 2018. PaySec was a payment processor used by Cubits.