Dragon Payments, Formerly Known As London Block Exchange, Has Been Placed Into Compulsory Liquidation

Dragon Payments, a multi-cryptocurrency exchange dedicated to the UK market, announced this week it has been placed into Compulsory Liquidation. The company, which was originally named London Block Exchange (lbx), reported that a winding up order was made against the company on January 31st. Paul Cooper and Paul Appleton from David Rubin & Partners were appointed joint liquidators on February 4th by order fo the Secretary of State. The company reported:

The Joint Liquidators and their team are working toward resolving customers’ concerns, including the recovery of any sums owed, as a matter of priority. The Joint Liquidators’ team are contactable on the details below, and all queries or claims for monies owed should be addressed to them directly.”

Founded in 2017, the company claims to be the UK’s only dedicated multi-cryptocurrency exchange with safeguarded UK banking for retail customers. The platform was “built to help consumers and institutions across the country to join the digital money revolution.” Dragon Payments explained:

With an acute focus on trust, security and reliability, our goal is to provide a safe and accessible place to trade and invest in cryptocurrency for users of all experience levels. We service the retail market with a state of the art app and also offer an Over-the-Counter (OTC) service for trades in excess of £25,000.”

The company renamed itself Dragon Payments in Summer 2019. Prior to shutting down, the platform offered GBP pain trading in Bitcoin, Ethereum, Litercoin, and Ripple.

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