The Delaware County Bankruptcy Court rejected an emergency petition from users of the Cred cryptographic lending platform. They demanded that its listed assets be frozen, writes Cointelegraph.
During a November 25 hearing, Judge John Dorsey said he could not grant the motion without evidence related to the status and ownership of the cryptographic assets. According to him, the freezing of these assets is expected to be considered on 9 December.
In September Cred joined the Visa payment giant Fast Track program. On 28 October, the cryptocredit platform announced an incident that required the involvement of law enforcement agencies.
In November, Cred began bankruptcy proceedings in an attempt to maximise the value of the platform for lenders.