A court has issued an order prohibiting BB Trade Estonia, the operator behind the Zondacrypto platform, from disposing of any assets.
The injunction is a preliminary step toward the company's bankruptcy, according to reports from Puls Biznesu.
The legal action follows allegations that the firm defrauded investors of more than €80 million.
The legal action follows allegations that the firm defrauded investors of more than €80 million.
By freezing asset transfers, authorities aim to preserve the remaining estate for potential creditor recovery as the insolvency process begins.
This development underscores the intensifying regulatory pressure on cryptocurrency operators across Europe.
The UK Financial Conduct Authority recently outlined a comprehensive crackdown on the sector, while Spain’s securities regulator has refused to grant waivers to firms failing to secure licenses under the EU’s Markets in Crypto-Assets regulation.