Dear Heaps user,
As an update on our previous communications, we learned earlier this morning that Heaps’ qualified custodian provider, Prime Trust, has halted crypto services due to regulatory action by the state of Nevada. At this time, all deposits and withdrawal of cash and crypto have been frozen on Heaps. As you know, we have been concerned about this possibility for over a week and have worked to keep you informed.
As a reminder, if your crypto assets or cash are impacted in a Prime Trust bankruptcy occurring in the next two months, Heaps will reimburse any assets you have on deposit in your Heaps account as of June 13, 2023. Note that we will not backstop any market losses (i.e., if your crypto assets become less valuable in the market) or crypto purchases that occur after June 13, 2023. In the event that your assets have not been made available to you by Prime Trust on or before June 30, 2023, we will reach out to you and provide options to have the value of your cash and crypto (as of June 13, 2023) sent to you.
We sincerely apologize for this inconvenience and greatly appreciate your patience as we await further details from Prime Trust. We will continue to keep you updated as soon as we learn more. In the meantime, please don’t hesitate to reach out with any questions by replying to this email or by sending a note to firstname.lastname@example.org.