Echo Base assists in forming a certain exchange's creditors' committee, aiming to recover frozen assets

Echo Base assisted in forming a creditor committee for a certain exchange on September 2, representing users with frozen assets by hiring legal counsel to evaluate recovery options. Echo Base had previously proposed a funding plan of up to 10 million USD on August 6 to support the exchange in filing for bankruptcy, but received no response. Sonn Law Group is conducting an investigation targeting users with frozen assets of 500,000 USD or more in the exchange. Echo Base CEO Roshan Dharia stated that the exchange's staff plan can only maintain operations until January 2027. (Bitcoin.com News)