Kim Dotcom’s crypto startup goes into liquidation before it’s even launched
Bitcache , a Lightning Network-based micropayments service created by Megaupload founder Kim Dotcom , has been placed into liquidation after it failed to launch . The company, which was designed to be integrated into Dotcom’s digital marketplace K.im, was first announced back in 2016 and Dotcom claimed that it would be the “preferred option for online payments by 2022.” However, despite a reported $5 million crowdfunding effort in October 2016, and a promised ICO in 2018, the project never made it out of the gate. Dotcom made some bold claims about what Bitcache would do. As a result, Phil Creagh, a lawyer with the firm Anderson Creagh Lai and former Bitcache director, applied to have the company placed into liquidation back in May . Creagh claimed that, “It’s pretty straightforward, there are fees owed and not paid. The company has not taken any steps so far to avoid being placed in liquidation. “We’ll put it in liquidation and see what, if anything, can be recovered,” (via N...