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Bitcache, Kim Dotcom’s Lightning Network-Based Micropayments Service, Placed Into Liquidation After Failing To Launch

Bitcache, a micropayments service based on the Lightning Network and created by Kim Dotcom, the founder of Megaupload, has been placed into liquidation after failing to launch. Despite a reported $5 million crowdfunding effort in 2016 and a promised ICO in 2018, the project never got off the ground.

The company was designed to be integrated into Dotcom's digital marketplace K.im, and he claimed it would be the "preferred option for online payments by 2022". The liquidation was initiated by a former Bitcache director who claimed that the company had not paid "unpaid director's fees" totaling around NZ$231,000 ($147,000).

Lightning Network Liquidation
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