Wirecard, which issues cards that support crypto payments to platforms such as Crypto.com and Wirex, 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.
As a result of the issue, Wirecard has now delayed publishing its annual report and financial statements for 2019, initially scheduled for Aug. 4. “If certified annual and consolidated financial statements cannot be made available until June 19, 2020, loans made to Wirecard AG amounting to approximately EUR 2 billion can be terminated,” it said.
Shares of Wirecard fell as much as 62% or 65 euros to 40 euros in Frankfurt trading on Thursday after news of the missing billions broke out. In the last 52 weeks, the stock price has reached a high of 159 euros and a low of 30 euros.
What do you think about Wirecard’s missing billions? Let us know in the comments section below.
The post Crypto Card Issuer Wirecard Missing $2.1 Billion Cash, Company Shares Plunge 62% appeared first on Bitcoin News.
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