Scoutinternal

Australian Liquidation and Bankruptcy Notices Sent to BitGo Support

Australian Liquidation and Bankruptcy Notices Sent to BitGo Support

Problem

Australian insolvency practitioners (primarily from the firm Merchants Advisory, based at Level 15, 175 Pitt Street, Sydney NSW 2000) routinely send formal liquidation, receivership, and bankruptcy notices to support@bitgo.com regarding Australian Pty Ltd companies and bankrupt individuals. These notices request BitGo's cooperation in identifying whether the subject entity or person holds any accounts or digital assets on the BitGo platform. In the vast majority of cases, the named entities have no BitGo account. Occasionally, a related entity does have an active account (e.g., FTX-sourced enterprises), requiring a more nuanced response.

Diagnostics

  • Identify the sender: Confirm the email originates from an Australian insolvency firm (most frequently Merchants Advisory, ABN 68 325 595 490, with phone numbers beginning 02 8358). Other firms such as HopgoodGanim Lawyers also submit these requests.
  • Search the BitGo admin tool for the entity: Use the company name, ACN, ABN, and any known email addresses to search for matching accounts. Typical search yields "did not match anything" / "No Results Found."
  • Search for associated individuals: If the notice concerns a bankrupt individual, search by full name and any known aliases.
  • Check whether the sender provided an email address or Enterprise ID associated with a BitGo account. Most Merchants Advisory notices do not include this information.
  • If a match is found: Check the enterprise source (e.g., ftx), KYC status (pending, approved, rejected), and whether Go Accounts exist. Determine if the enterprise is relevant to FTX claims or is a standard BitGo Trust / Paygo plan.
  • Check for multiple enterprises: A single entity group may have multiple enterprise accounts with different statuses and sources. Distinguish between FTX-sourced enterprises and normal BitGo Trust plans.

Resolution

Scenario: nsw-pty-liquidation-8358#no-account-found

Trigger: Search of the BitGo platform by company name, ACN/ABN, individual name, and any provided email addresses returns no results.

Signals: No Results Found, did not match anything, liquidation, bankruptcy, Merchants Advisory, Pty Ltd, In Liquidation, Bankrupt, 175 Pitt Street, Sydney NSW 2000, 02 8358

Steps:

  1. Search the BitGo admin tool using the company name, ACN, ABN, and any email addresses or individual names provided in the notice.
  2. Confirm the search returns no results (e.g., "No Results Found" or "did not match anything").
  3. Reply to the sender informing them that no account was found matching the provided details. Use language such as: "We are not finding anything for this company on our platform."
  4. Request additional identifying information if the sender believes an account should exist: "If you believe there should be something, we will need an email address or EnterpriseID for their org that can be used to locate them."
  5. If no response or further information is provided, the ticket can be resolved.

Notes: The overwhelming majority of these notices (well over 90% based on ticket evidence) result in no matching account. Many of these tickets are forwarded to an internal team without a direct customer-facing reply when no account is found. Some agents respond directly to the sender; either approach is acceptable, but when responding, always ask for an Enterprise ID or email address if none was provided.

"We are not finding anything for this company on our platform. If you believe there should be something, we will need an email address or EnterpriseID for their org that can be used to locate them." "It appears that we don't have an account registered under this email address in our system. Is it possible that you have an account with us under a different email? If so, please reach out to us using that email address." "To assist you further, could you please share your Enterprise ID with us?"

Scenario: nsw-pty-liquidation-8358#account-found-ftx-enterprise

Trigger: Search returns one or more enterprise accounts associated with the entity, typically with source ftx, and the inquiry relates to FTX claims or asset recovery.

Signals: FTX, enterprise, Go Account, KYC verified, KYC pending, source: ftx, Custodial Service Agreement, CSA, restructuring claim, FTX claims

Steps:

  1. Search the BitGo admin tool using the entity name and any provided email addresses.
  2. Identify all enterprise accounts associated with the entity. Note the enterprise name, Enterprise ID, source (e.g., ftx), KYC status, and whether a Go Account exists.
  3. Distinguish between FTX-sourced enterprises and non-FTX enterprises:
    • Enterprises with Source: ftx and active Go Accounts are viable for FTX claims.
    • Normal BitGo Trust plans (not source ftx) are not for FTX claims.
    • Enterprises with Organization KYC Status: rejected are not viable.
  4. If KYC status is pending, the enterprise owner needs to log in to the BitGo platform and complete the BitGo Custodial Service Agreement (CSA). Instruct them: "User will need to choose the relevant Enterprise from the upper right side, then the CSA page will pop-up."
  5. If KYC is verified and Go Accounts exist, inform the requester: "No further action is required on your part for BitGo; you just need to wait for the Trustee to issue the formal announcements regarding agency distributions. You may also need to submit your information to FTX portal on your BitGo Go wallet details."
  6. Advise that Go Account wallets are accessible via Assets > US Dollar > Go Account.
  7. For any FTX-specific timeline questions, direct the requester to FTX Support: "Regarding the claims timeline, BitGo is unable to provide any comments on disbursement timelines at this time. Please refer to official communications from the FTX Claims team for updates."

Notes: Some entities may have multiple enterprises — some FTX-sourced and some not. Clearly enumerate all enterprises and their statuses to the requester. Rejected enterprises should be mentioned with their rejected status so the requester understands why they are not viable. Legal representatives may push back if not all accounts are identified; be thorough in listing every enterprise found.

"This Go Accounts wallets will be the wallet used for FTX claims. This wallets can be accessed via Assets > US Dollar > Go Account. No further action is required on your part for BitGo; you just need to wait for the Trustee to issue the formal announcements regarding agency distributions. You may also need to submit your information to FTX portal on your BitGo Go wallet details." "User will need to choose Ent: Zerocap Limited - enterprise (FTX) from the upper right side, then the CSA page will pop-up" "Regarding the claims timeline, BitGo is unable to provide any comments on disbursement timelines at this time. Please refer to official communications from the FTX Claims team for updates."

Scenario: nsw-pty-liquidation-8358#bitgo-cc-not-addressed

Trigger: BitGo is CC'd on a communication (e.g., an FTX claims support thread) but is not the direct recipient or responsible party.

Signals: CC, FTX, support.ftx.com, not directly addressed

Steps:

  1. Review the email to confirm BitGo is only CC'd and the request is directed at another party (e.g., FTX Support).
  2. Note in the ticket: "BitGo in CC. Not directly addressed towards us."
  3. No action required from BitGo. Resolve the ticket.

Notes: These occasionally arrive when FTX claimants include support@bitgo.com in CC on correspondence meant for FTX's claims team.

Related

  • ftx-claims-go-account-setup — FTX claimants needing to complete CSA or access Go Account wallets
  • account-lookup-no-results — General handling when a third-party inquiry returns no matching BitGo account
  • none identified for the trade automations / auto-liquidation feature, which is unrelated to insolvency liquidation notices