This is the new Bitwala company, the old Bitwala went bankrupt last year after the name-change and halted all their services.
Yes, this is correct. This is a new company. With a former investor, we took over the intellectual property, including the app, the technology behind the self-custodial wallets, and the brand, including the trademark and name.
Please do clarify - what exactly happened during the bankruptcy proceedings?
After filing for insolvency, we didn’t find an acquirer, so ultimately the company had to be liquidated. The liquidation proceedings are still managed by the insolvency administrator.
The assets in the bank account, as well as in the custodial wallet, can be requested back from Solarisbank until today. The assets in the self-custodial wallet (Vaults) can be restored externally by means of the seeds or transferred into the new Bitwala app. All services were discontinued on the 19th of December 2022.
Unlike other crypto neobanks, we have not speculated with customer funds, and with the exception of our tragic partnership with Celsius, all funds can be restored or requested back from Solarisbank.