CEO Bankruptcy Status: Coinloan OÜ was officially declared bankrupt on June 14, 2023, following an initial suspension of operations in April 2023.
CEO’s Role: Alex Faliushin stated in a June 2023 blog post that the company would cooperate with the court-appointed trustee and work to keep user accounts functional where possible.
Cause of Failure: The insolvency was heavily influenced by market instability and, as reported, a potential connection to the collapse of the Vauld crypto exchange.
Impact on Users: The platform, previously a licensed entity in Europe, halted withdrawals, leading to legal actions to manage claims, with updates continuing into 2025 regarding new claim opportunities.
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