Ziglu Collapse Show £2m Shortfall, Freeze 20k User Money

Ziglu collapse for May after UK FCA stop people from withdraw money, wey make internal check find say customer fund lack £2 million ($2.7 million). People wey dey manage things see say Ziglu dey use deposit—especially from their high-yield Boost product—for daily business. Because of this, about 20,000 customers, with 4,000 wey dey use Boost, their money freeze and dem fit lose up to £2.7 million. Company directors talk say dem near to get new funding before FCA restriction start. Now, dem dey special administration and assets dey for sale, so chance to recover money for creditors and users thin. This collapse show how unprotected crypto savings product get risks and fit make FCA regulate better, wey fit make market confidence for similar product drop.