Customers of Bittrex Global (Bermuda) Ltd, the failed cryptocurrency exchange, will be able to claim their funds, the company’s joint provisional liquidators have revealed.

Bittrex Global, which had offices in Bermuda and Liechtenstein, announced last November that it was ceasing operations and winding down.

As part of that process, Bittrex Global Bermuda applied to appoint an independent, third-party liquidator to oversee the process.

Margot MacInnis, Andrew Howie and Carmel King of Grant Thornton have been appointed as joint provisional liquidators of Bittrex Global Bermuda. Control of the company has now been handed over to them, under the supervision of the Supreme Court of Bermuda.

The company’s petition for its winding up was presented to the Supreme Court on March 8 and is set for hearing on March 28.

In an e-mail addressed: “Dear Bittrex Global User”, the JPLs wrote: “The purpose of the liquidation process, governed by the laws of Bermuda, is to ensure an orderly wind-up of the company and ensure that there will be independent oversight and total transparency in the process.

“We have been working closely with the company and the Bermuda Monetary Authority for a number of weeks and have developed a liquidation plan that envisages all Bittrex Global Bermuda users being able to claim their funds and all other creditors being paid in full in an orderly and efficient manner.

“We have temporarily halted withdrawals while we establish the process for doing so. The plan anticipates that the court will enable withdrawals to be re-enabled in the coming weeks.”