Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange.
Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. The company's non-U.S. operations are based in Liechtenstein.
Bittrex's assets and liabilities were both between $500 million and $1 billion, according to a bankruptcy petition filed in Wilmington, Delaware court. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Those assets are "safe and secure" and Bittrex said it intended to ask the bankruptcy court for a limited re-opening of customer accounts so that the crypto could be distributed back to customers.
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