Please see my previous blogs for more information on the situation with Australian crypto exchange Digital Surge's collapse following the FTX implosion (links at the end of this blog).
The DOCA was passed, and the asset rebalancing took place earlier this week, customers now have access to their accounts for trading, and deposits/withdrawals will open tomorrow (21st Feb at 9am AEST).
Eventually the rebalance has meant everyone with assets above $250 has received 55% of the value of their assets back into their account as the crypto (not $). HOWEVER, and this is a big one, that has commonly been misunderstood, (including my me!), that value is based on the Dec 8th values, so coins that have gained big since then, such as SOL your % coins returned is much lower - under 30%, which is disappointing. Fortunately as described previously my losses were only small, thankfully, but its a further kick in the teeth, as a holder, not a trader to have lost such a large % of coins, I am not really interested in the $ value at this point, more the actual number of coins.
For DS users (and all those with balances on CEX), I strongly recommend self custody and will write a further blog detailed some relevant information on how to set this up and stay secure.
My first blog on this subject: https://www.publish0x.com/frmkii-random-crypto-musings/collapse-of-australian-exchange-digital-surge-xjrxqlq
My follow up blog: https://www.publish0x.com/frmkii-random-crypto-musings/australian-exchange-digital-surge-collapse-update-xnnzqed
My second follow up blog: https://www.publish0x.com/frmkii-random-crypto-musings/australian-exchange-digital-surge-collapse-thoughts-on-next-xnnzkdw
