VauldAction.org Releases Report Exposing Vauld Co-Founder’s New Crypto Startup
- Failed businessman Darshan Bathija who still owes Vauld customers hundreds of millions of dollars launches a new crypto company.
- The same employees who drove Vauld into insolvency now work at Defx, Bathija’s new startup.
- In a new blog article, Bathija blames Vauld’s failure on market conditions when Bathija himself caused the company’s liquidity crisis.
- Vauld board attempts to send $800k in FTX recoveries to Bathija company.
- Creditors organize a petition to end Vauld’s censorship.
Singapore, August 5th, 2024 – Coinscribble by Coinbound / Vauld co-founders Darshan Bathija and Sanju Kurian have worked in stealth for a year on their new crypto startup Defx, the victims of their last venture have revealed.
VauldAction.org, an organization for and by creditors of Vauld, has just published a detailed 20-page report on this topic available at https://vauldaction.org/articles/report-on-vauld-co-founders-new-company.
While Vauld creditors struggle to understand if they will ever receive any portion back on the approximately $200 million Vauld owes them, Bathija is looking to be “less serious” and “have fun” with his new startup, according to a blog article Bathija recently posted to Substack.
Besides Bathija and Kurian, other former Vauld employees now work at Defx, and projects begun at Vauld are now pursued at Defx.
Darshan Bathija’s New Blog Contends Market Conditions Caused Vauld To Halt Customer Withdrawals In July 2022
In actuality, Bathija caused the Vauld liquidity crisis by sending $202M of customer assets to a secret counterparty reported to be Amber Group. Amber commenced arbitration against Bathija in December 2022. Bathija avoided participation in arbitration until he got his sanctioned restructure in August 2023. Now arbitration drags on while creditors are forced to pay all legal and operational costs.
Meanwhile, Bathija and Kurian avoid responsibility and move on to other ventures.
Vauld Board Set To Send $800K In FTX Recoveries To Bathija Company
The current Vauld board consists of Nanda Gopal (CEO), Jason Kardachi of Kroll Singapore (Scheme Manager), and Damir Butmir (Creditors’ Representative). The board is attempting to send $800k in FTX recoveries to Darshan Bathija’s Defi Technologies Europe (DTE) company. However, affidavits submitted to the High Court of Singapore show that DTE was just a custodian, not the owner of the assets sent to FTX. Furthermore, the official independent assessor’s report performed last year by Quantuma Singapore and sanctioned by the court shows no mention of any alleged claim by DTE. Lastly, Bathija is on record stating he and Sanju Kurian waive all claims (see the video evidence at https://vauldaction.org/articles/bathija-waives-his-claim).
Creditors have repeatedly requested verification of the alleged DTE claim and the Vauld board has refused to provide details. Additional information on this is available at https://vauldaction.org/articles/800k-to-go-to-bathija-shell-company.
Vauld Creditors Organize A Petition Against Vauld Censorship And Avoidance
In direct violation of orders from the high court of Singapore for Vauld to provide an “unmoderated space“ for creditors to communicate, Vauld has deleted hundreds of posts and banned dozens of creditors on its official telegram group. This story is documented at https://vauldaction.org/articles/vauld-deletes-posts-on-censorship-petition.
Vauld creditors are encouraged to sign the VauldAction.org petition to end Vauld’s censorship and avoidance. The petition is available to sign at https://t.ly/6XGg4.
About VauldAction.org
Organized by victims of failed cryptocurrency company Vauld, VauldAction.org advocates for creditors and attempts to recover their missing assets, which total approximately $200 million.
Contact
For more information contact VauldAction.org via email at [email protected] or visit vauldaction.org.
