CEO of Golix cryptocurrency exchange loses cold wallet password – Cryptocurrency News

The founder of Zimbabwean cryptocurrency exchange Golix has lost the password to a Bitcoin cold wallet. As per the reports, Tawanda Kembo allegedly lost it in May 2018 following the shutdown order cited by the financial regulators. The wallet contained 33 bitcoins worth around $305,000. Kembo has claimed that only a 1% minority is unavailable to retrieve the investments and denied the statements of insolvency.

Tawanda Kembo, the CEO and founder of Golix, has reportedly mislaid the keys to one of the platform’s Bitcoin cold wallets. According to the local news daily iHare, Kembo lost the password last year in May.

In a guest post, the CEO did not dismiss the statements of losing the password to the BTC wallet containing 33 bitcoins. The crypto coins are worth more than $305,000.

The reports of missing the key surfaced after the exchange was ordered to cease its operations for violating the regulatory issues. Since then, Golix terminated the communications, and the majority of the users failed to retrieve their investments. The CEO has now breached the silence on the allegations.

Kembo has denied that his firm was unable to process withdrawals and stated, “99% of the people who have attempted to make a withdrawal on Golix have seen it go through without a hitch.” He further asserts that only 1% of the minority was not able to redeem their funds.

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Alexander Aryan
Alexander Aryan
After completing his Masters in Business Administration and Management from the California State University, Alexander dedicated his life into studying and writing about bitcoin and the technology behind it as he believes it to be the money of the future. Apart form being a writer, Alex is also a great speaker and loves to participate in blockchain events.

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