Dear Heaps user,
In the last several days, you may have read articles mentioning Prime Trust, which serves as the qualified custodian for your account with Heaps. We have learned that Prime Trust may be impacted by withdrawals and other financial and management related issues, and has signed a letter of intent to sell its shares to BitGo (a much larger crypto custodian).
The safety and security of your assets is our number one priority. Importantly, we want to reassure our users that your funds are secure. If the Prime Trust-BitGo transaction closes, we anticipate there will be minimal disruption to your service with Heaps. Nevertheless, we are preparing contingency plans with another qualified custodian that is ready to accept your crypto assets and cash nearly seamlessly. If you prefer to withdraw your assets from Heaps, you can transfer funds at any time by following these instructions for cash and crypto.
In the event that your crypto assets or cash are impacted in a Prime Trust bankruptcy occurring prior to a sale to BitGo in the next two months, Heaps will reimburse any assets you currently have on deposit in your Heaps account. Note, however, that we will not backstop any market losses (i.e., if your crypto assets become less valuable in the market).
We are proactively managing these circumstances to ensure the safety and security of your assets. We will continue to keep you updated and please don’t hesitate to reach out with any questions by replying to this email or sending a note to email@example.com.