Grant Thornton, the liquidator of the Dasset exchange, has engaged New Zealand's Serious Fraud Office (SFO) to search for hidden investments from the failed exchange.

The accounting company Grant Thornton reported that during the bankruptcy procedure and the formation of a target bankruptcy estate to compensate for the financial losses of shareholders, the fact of concealing investments worth more than $6 million from the liquidation commission was revealed. Grant Thornton noted that they were unable to find funds belonging to both minimum 5,000 Dasset shareholders. In this regard, the interim administration of Dasset asked for help from the SFO of New Zealand with a request to assist in the search for assets.

“The officially registered assets held by Dasset amounted to less than 10% of the actual balances of users and creditors on the date of liquidation of the exchange. If the liquidation committee fails to locate and enforce unaccounted for investments, the amount of funds available for repayment to users or creditors will be minimal,” the Grant Thornton report states.

The liquidator sought the help of third parties to try to trace the investment, but these efforts were unsuccessful due to an inability to contact Dasset chief executive and major shareholder Steve Macaskill. The SFO appealed for anyone with relevant information to contact it and declined requests from journalists for further comment.

Earlier, the Governor of the Central Bank of New Zealand, Adrian Orr, said that stablecoins backed by fiat currencies could never replace paper money, but could destabilize the global financial sector.