Digital Surge, a troubled Australian cryptocurrency exchange, has been bailed out after creditors approved a long-term recovery plan, according to a statement shared with CoinDesk. According to The Guardian, the Brisbane-based exchange held $33 million on FTX, the cryptocurrency exchange that went bankrupt in November. In December 2022, Digital Surge entered voluntary administration, a process in which management relinquishes control to licenced insolvency practitioners who assess the company’s financial situation independently. KordaMentha, a Melbourne-based investment firm, has been appointed as administrators. The move came just days after FTX and FTX Australia began similar procedures.