Update on ongoing procedures

Official Communication — Update on Ongoing Procedures

Dear Users,

we feel it is our duty to share with you a detailed update on the status of the procedures currently underway. We are aware of the time that has passed and of your legitimate expectation of concrete information, and in these lines we will try to convey, with the greatest transparency permitted by the applicable legal and procedural constraints, the status of each work stream.

Manual reconciliation of balances

The auditors designated by our group had been appointed in recent weeks. We were awaiting the appointment of the independent external auditor provided for by the applicable procedural framework: this appointment has now taken place. In the coming days the full panel will be fully operational in order to align on the balance reconstruction procedures.

As you know, this is a manual and particularly careful work. The verification concerns several thousand users and an even greater number of transactions, each of which must be reconstructed and confirmed according to criteria shared among all the auditors involved. This step is necessary to allow, subsequently, the correct handling of individual positions.

We do not have, to date, a definitive timeline. We commit to communicating it as soon as it is shared by the panel of auditors.

Investigations in Latvia and access to the database

The Latvian cyber-police authorities have reviewed the situation and conducted hearings as part of the investigations aimed at reconstructing the previous technical management, which was entrusted to the provider ABC. The closure of the investigations is expected by the end of June.

At their conclusion, the authorities will release the official documentation that should allow the hosting provider AWS to proceed, in compliance with its own internal procedures, with the transfer of ownership of the account previously held by ABC to DTSH.

This route remains, to date, the fastest way to recover access to the backups and databases necessary to restore the platform. Once such access is obtained, the technical restoration operations can be initiated. We do not have direct control over AWS’s timelines; we will take care to expedite the process so that it concludes as quickly as possible.

The establishment of responsibility in the previous management is the subject of the ongoing investigations, conducted by the competent authorities. We refrain from any comment out of respect for the confidentiality of ongoing investigations and the presumption of innocence, reserving the right to communicate developments as soon as they are made official.

CONSOB proceedings

Regarding the hearing held on January 13, as of today the judgment has not yet been published. The Italian legal system does not provide for a deadline within which the judge must issue the decision; we are therefore not in a position to provide a definite date.

This proceeding currently also keeps suspended the “change of control” of the acquired company, pending the outcome of the court’s decision. This is the company that benefits from the MiCAR transitional regime. Through this acquisition, we intend to restore crypto services on the platform as soon as we obtain definitive authorization.

We will keep you updated as soon as the decision is made public and as soon as we can proceed with the consequent steps.

Our commitment to you

We fully understand the difficulties that many of you are experiencing. Every step described in this communication — from the operability of the auditors’ panel to the closure of the Latvian investigations, from the transfer of the AWS account to the developments of the Italian proceedings — is part of a necessary and coordinated path leading to the complete reconstruction of balances and the restoration of the service.

We reiterate that it is our priority objective to complete the reconciliation of balances in compliance with the legal frameworks applicable in the various jurisdictions involved. We will continue to provide regular updates on every relevant development, even when this means confirming that procedures are ongoing and that there are not yet any new elements to communicate.

For any questions regarding your account, our teams remain at your disposal through the official contact channels.

We thank you for the patience and trust you continue to place in us.

DTS Money Official Communication