Shares of the Giant Company Crashed After the Scandal

Shares of the Giant Company Producing Cryptocurrency Bank Cards Hit the Bottom After the Scandal German Wirecard; It offers cryptocurrency card services to cryptocurrency companies and exchanges. The company's shares fell more than 60 percent after it was discovered that more than 1.9 billion euros were missing from the balance sheet.

Shares of the German payment company Wirecard, which provides crypto debit card services to many cryptocurrency companies and stock exchanges from Wirex to TenX, lost over 60 percent in value in just a few hours. This loss of value came after the statement that more than 1.9 billion euros of money appearing on the company's balance sheet was missing.

While the statement was made by EY, the company that audits Wirecard, the fact that the amount corresponds to a quarter of the balance sheet more clearly reveals the extent of the scandal. In a recent report published in the Financial Times, it was reported that Wirecard's employees in Dubai and Dublin showed higher sales and profits for approximately ten years. Wirecard shares experienced their best period in terms of price in August 2018. Shares, which exceeded $190 in August, are now 80% below the peak at $39.90. The company also operates in Turkey. The service received from cryptocurrency cards may be disrupted. Wirecard provides services to many companies offering cryptocurrency cards and is the issuer of these cards. Following the latest development, it is considered that there may be service disruptions in the cards issued by the German company.