Bitcoin Forum

Cryptopia problems seem to be getting worse by the day..

this used to be one of the most reliable exchanges what has happened ??

Transactions/deposits/withdrawals etc routinely get stuck "processing" for days at a time.
(some people are reporting weeks).

Support has become virtually non-existent & support tickets take weeks to get answered.

If I was a NZ resident it would be a different story as I could sue their asses, but unfortunately
I don't so I have to sit and wait until they feel like acting.

I didn't have problems with Cryptopia, but the reality is that many people have issues with this exchange.
Does anyone know what is happening there? Why is there such a mess?

because they went from 20,000 users to over 1 million in the space of a few months. at least that's what they're saying started these problems.

https://www.cryptopia.co.nz/News check the post from january 6th.

it's now been a few months. volumes are way, way down compared to the peak so in theory they should be getting on top of things now. judging by the volume of complaints these days they're clearly not managing to deal with this stuff successfully.

beyond the failure to nail any support requests they're also doing things like holding back byteball that belongs to their customers.

even if they're not dishonest, their incompetence is bordering on criminal anyway.

if they had half a brain they'd delist all those shitcoins and get to work properly.

As far as I know they started to resolve the issues in withdrawals. Well, there are still problems that haven't been solved as of the moment, but some stuck withdrawals have been cancelled and once a withdraw request was made again, it will go through smoothly already. If you're not aware yet, you can see some story in their Ann Thread (https://bitcointalk.org/index.php?topic=1669443.1560).

Well they've always had those problems but eventually resolve them. sometimes they cant be faulted because of the new users on the platform which increases daily putting unnecessary pressure on the site because these new users mess up and the mess has to be cleaned.I think they just need to upgrade their services to match up to the userbase

I was planning on trading in to Cryptopia, I'm glad I read what you wrote. Especially great is too much of the stock market these days, think there should be a stock market more competitive.

It's called insolvency. I have said it before already, but what's happening is that they fill gaps with debt, and that's never a good way to move forward. In easy to understand language; at the moment you deposit Litecoin for example, Cryptopia will use your coins to fund the withdrawal requests of people who've been waiting for days or weeks. It's almost like a scheme structure where early birds get paid out with the money flowing in from new investors. One way or another, something is horribly wrong, that's for sure, but what I don't understand is how people despite all the warnings and complaints, still deposit funds in an obvious shithole. In some cases you have to understand when to ditch an exchange, regardless of how many shitcoins they host that other exchanges rightfully aren't willing to list.

Is there a way we could actually know this? And how is that even possible when every time you send coins you have the coins, I just don't get it. I haven't had a problem just yet but it does worry me as Cryptopia was amongst my favorite exchanges.

Yeah, if the banks haven't let cryptopia do its thing, and if cryptopia can't get any fiat backing... insolvency is the only course of action.

I'm glad I only have a few coins there. It's a loss that I can just walk away from.

If you feel not suitable with the exchange then just stop using their service.
The first experience can be the last for you to trade in that exchange. There are some other good and top exchange like binance, kucoin an dpoloniex. Just choose one of them.

I have no problem with cryptopia, its smooth transaction with them. Small withdrew fees on bitcoin and other altcoins, maybe you had some restrictions on your internet or your place there. Its important to verify it first some person use vpn for there security matters. Also lots of users now so support might down and take time to answer you, be patience. Good luck

Good advice sir...

One problem in following it though..
I can't stop using their service until they release my LTC that is being held in "processing".

If or when I am lucky enough to recover my funds, I will not need anyone to advise me
whether or not to use this exchange, it's a foregone conclusion that this will be my last dealings with them..

The question in my OP wasn't asking if I should use Craptopia or not. I was seeking other peoples
experiences which may or may not confirm my suspicions that Craptopia are "robbing peter to pay paul".

Withholding funds and using outrageous waiting times (currently 28 days) to answer tickets,
may be an attempt to cover their tracks & hide the fact that they are insolvent, as rumours
are suggestiing..

cryptopia really needs to work on their service, alots of complain about them even me too does not have a good experience trading on their platform

My first interaction with cryptopia was because t was the first exchange Electroneum got listed on. Now cryptopia claims the ETN wallet is under maintenance and can not bee used. This has been going on for some days now with no resolution.

It's impossible to know for sure, but it definitely looks like they are severely insolvent. I have seen how even non crypto services acted similarly, and it all ended bad, unfortunately.

It's not every time. People have complained a lot about their deposits were not posting for half a day, or even days straight.

It should worry you. While you still don't experience any problems, which is quite an achievement on its own, withdraw your funds as soon as possible. It's just not worth it to keep your funds in an exchange that might turn you into a victim as well, and with everything that's going on in mind, it doesn't even make sense to keep using that exchange.

Anyone who has money "processing"..

I've been able to find company contact details for court etc, from another forum.

Cant be 100% sure of the accuracy of the information as they been known to tell a few porkies

109 Montreal St
Sydenham
8023
New Zealand

Phone +64 21 669851
          +64 39 628838

Contact name  Rob Dawson
rob.dawson@cryptopia.co.nz


Tried getting the gov't department from same forum, but Craptopia deleted it earlier (i wonder why)

Well, I hope they aren’t having problems. I use them for a few altcoins that I can’t get on Binance. I have never had a problem before but I have also never needed to contact support so I can’t say if their support is good or bad.

Luckily I don’t have much money invested in coins on that exchange and I eventually will take most of that off anyway if I can get my Ledger Nano S to work.

Yeah, I also faced some issues but not too many. I rather prefer other exchanges. You should look for better alternatives.

there are a lot of shitcoins in that exchange , you need to watch out when you want to trade on there , and fees in there are high.

You'd think they'd upgrade their servers considering these sorts of issues to solve any inefficiencies that way their reputation wouldn't be adversely affected

cryptopia use to be my best

You aren't imagining things bro; Cryptopia is definitely hitting the garbage just like the other shit exchanges, Yobit and HitBTC. I have had my transactions stuck several times, and it is not their fault if not for some bullshit ICOs that I invested in and decided to choose Cryptopia as the exchange they are listing on.

I am really getting pissed off with exchanges these days and unless you are using the other reputable ones which sometimes too they flop a little, then you are better off not making use of anyone at all.

There is such a mess because they are gradually losing it. If they knew they could not upgrade their servers, why allow a huge number of users than they can handle at once, as there is one thing they call halting of registrations for new accounts until further notice, which binance obviously did not fail to do.

We know how exchanges are really needed, but it is insane to just want to accommodate what you obviously have no capacity to accommodate.

Even with the volume still being low, Cryptopia is still messing up badly. The days of these exchanges are numbered anyway and so many other ones that are in their category. What they are stating as the problem is crazy, and who forced them to allow such huge number of registrations when they know they are incapable of handling them. Of course, they are all after the money and the transaction fees and that is more like what these exchanges are good for these days anyway.

They had better do that as my withdrawal has been pending for days now and if that is resolved, I am sure done with them. The one that was stuck before and cancelled and remade is still about the same thing now, because it has been some days with no serious response from them.

Still waiting anyway. I feel they over did themselves and with the complaint they gave about having lots of increase in users, I am sure they must not have seen it coming and that is the single mistake all these exchanges always end up making.

Cryptopia never were/is "one of the most reliable exchanges".

It's a good and small exchange, used for manipulations with coins tradable only there or with very small cap and volume. Yobit is the same.
If you are looking for better support and faster processing time, you should check the big players.

They been tag as good one before until NZ issue came to them and now they turn out to be suck the same with yobit so I would not recommend this site to trade now since there are so many bad issue on them. It's better really to check the big players since it could make us more safe rather than risking on small exchange.

It is obvious the management are technically not grounded or want to make too much profit from the business. They ought to have evaluated the capacity of their site and realise the implication of admitting more people without expanding the site capacity. I remember trying to register on Bittrex platform but was told to hold on due to high volume of people.They forget that TRUST is a key ingredient in crypto business. It is obvious they can't handle the surge at the moment. Their reputation is at stake if they don't act quickly to resolve the problems. More important people's funds are at risk. This is not good news to crypto lovers.

Cryptopia was never the best Exchange.It was used for Pump @ Dump for some very exotic and rare coins.How good thair team is you can see nowdays.Volume went way down,only Bitcoin exchange usable.
I will not miss it