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Banq, a subsidiary of crypto custody firm Prime Trust, has filed for bankruptcy protection in the U.S. Bankruptcy Court for the District of Nevada, CoinDesk reported. In the bankruptcy filing, the company cited approximately $17.72 million in assets and $5.4 million in liabilities. The company also stated in its filing that its former executives transferred $17.5 million in assets to the Fortress NFT Group in "unauthorized transfers," including trade secrets and proprietary information and technology. Banq has sued Fortress for allegedly stealing commercially confidential information to launch rival NFT platforms Fortress NFT and Planet NFT, and it has further accused them of engaging in fraudulent activities to cover up their wrongdoing.
South Korean crypto-yielding firm Haru Invest previously suspended operations due to difficulties with an unnamed service provider, believed to be Banq or Prime Trust, the report said. #新闻frontier# #Content Star#