Hdr_About.jpg

Detail Analysis

link.png

Date:

Status:

Count:

Contributor:

June 19, 2020

info.png

Verified

1

zerofriction.io

Loss Amount:

2,130,000,000

info.png

Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

info.png

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

info.png

Key Indicators

Platform:

Type:

Category:

Method:

Business

Scams

Extended Method:

falsify revenues

Data Sources:

info.png

About $2.13 billion worth of cash is missing from one of Wirecard's trust accounts, and the crypto debit card provider cannot as yet account for the money. In a statement, the crypto debit card provider blamed "spurious" cash balances provided by a third party with the aim of deceiving the auditor, which discovered the scandal during a routine audit. Wirecard said it is investigating the matter in close cooperation with the auditor. The amount missing equals 25% of the funds on the company's balance sheet. Auditor EY refuses to sign off Wirecard’s 2019 accounts as it was unable to confirm the existence of 1.9 billion euros ($2.3 billion) in cash balances on trust accounts. Wirecard says that 1.9 billion euros it booked in its accounts likely never existed. Wirecard files for insolvency, owing creditors almost $4 billion after disclosing a gaping hole in its books.

info.png

DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.