$1,900,000,000 missing from payment processor Wirecard, Crypto Cards and Prepaid Visa and MasterCard at risk?

$1,900,000,000 missing from payment processor Wirecard, Crypto Cards and Prepaid Visa and MasterCard at risk?

By Tomatosoup | CryptoSoup | 18 Jun 2020


EY, the auditors for German payment processor Wirecard have refused to sign off the company's accounts as it has not been possible to confirm the whereabouts of $1.9bn in cash.

Wirecard issues crypto debit cards and pre-paid Visa and MasterCards for company's including Crypto.com, Wirex and CryptoPay.

Card users balances are likely to be safeguarded in separate accounts, however there is potential for disruption as this is investigated and resolved. 

The BBC, ft.com and Cointelegraph are following the story.

Are you happy to keep your coins and cash on a Wirecard backed card, or will you be transferring your funds out?

 

 

 

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Tomatosoup
Tomatosoup

Interested in all things crypto and in tokenization of (almost) everything.


CryptoSoup
CryptoSoup

A mixture of views and news on crypto currencies, distributed ledger technology and a small side order of cryptography.

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