- Estonian exchange Coinmetro has filed for reorganization with a local court, citing a failure of financial service providers.
- The company had already suspended user registrations, deposits, and withdrawals on June 22, 2026.
- The exchange is entangled in a legal clawback effort from the Prime Trust bankruptcy estate over $1.2 million.
- Both Coinmetro OÜ and Coinmetro Group OÜ are overdue on annual reports, with the latter also having a tax debt.
Estonian cryptocurrency exchange Coinmetro has filed for a court-supervised reorganization, a move precipitated by an unspecified failure within its network of financial service partners. According to its official announcement, the exchange had previously suspended all user onboarding and fund movement activities on June 22.
However, CEO Kevin Murcko later revealed in a public session that multiple providers were involved, not just one. He suggested a multi-year internal investigation preceded this public admission of trouble.
Consequently, the exchange’s financial health is under scrutiny, with Estonian business registers showing both Coinmetro OÜ and its parent Coinmetro Group OÜ as overdue on annual reports. Furthermore, the parent company is listed with an outstanding tax debt.
Meanwhile, Coinmetro faces external legal pressure from the Prime Trust bankruptcy. The estate’s litigation trust filed an adversary proceeding last August, seeking to claw back approximately $1.2 million transferred to the exchange just before Prime Trust’s collapse. Murcko claimed the issue became material as the firm approached the July 1 MiCA licensing deadline.
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