Bitcoin Forum

Cryptopia is gone?

I don't get what they mean
They liquidated so they are saying that
the exchange shut down
I cannot withdraw anything from their wallet anymore?

It wouldn't be fair if they just close without giving their users the time to withdraw their funds. From everything I've seen, thats how it works.
They'd tried to revive the exchange, to see them coming back after the hack is something positive. Its still got some way to go of course but without a fighting chance, they may close. I'm not sure what they exactly mean on their announcement but my understanding is that the Liquidator Grant Thornton will act on their behalf probably they will continue its operation.

Well, due to the fact their case is now managed by a liquidator it may now take a very long time to get access to those wallets, if they are ever unfrozen again. I am not sure who is the legit owner of wallets on an exchange, if its cryptopia they may use those wallets to cover their depts.

after coinsmarkets few months ago, now cryptopia gone
what next ?
and now a lot of exchange born, i hope all the new exchange will have a good security system, to prevent hacking

I don't even understand what is happening in the market right now? Some exchange got hacked and some are closed. but still, the price is rising! the market is not making any sense. Cryptopia has a very high reputation so I do not expect anything shady from them. I hope they are going to pay all the debts to all of their users soon. they said so just play the waiting game now.

That's the reality that will happen just in case they've decided to pay, but for now the investigation will take some time and everything are frozen no traders can get anything inside the exchange, lesson learned from investors who's keeping huge amount of assets from any exchange not to do it anymore.

At least i withdraw my %85 of btc after hack. I have some other coins seems didn't affect on a hack, i hope they let me withdraw them either.

It is a dark day for the crypto community.

this is very sad news, many victims of cryptopia were hacked and there is no money back guarantee. after previously announcing to rise again but there were no more people who believed in cryptopia and now the news is that cryptopia will be shut down (omg).
there are some users whose balance is still stored in wallet cryptopia but cannot be withdrawn, shutdown without giving access to withdrawals. really bad, and very disappointing.

I just read it and WTH. They won't allow users to withdraw their altcoins which haven't been hacked? How can they just shut down. I have funds worth 0.03 BTC or even more on the exchange.

We dont need new exchangers yet this is already somehow saturated.When it comes to good security it is a really a must thing
but preventing completely against hacking is impossible.Just take a look on what happened on Binance even how good they are
but still they were being hacked.
Users wont really have any choice but to play that waiting game.  ;)

Yeah, those New Zealand regulators don't know shit about crypto. They probably didn't know that it is possible some customers can withdraw their unstolen  coins just by tallying the existing balances of each token in Cryptopia's balance sheets. It will probably happen in few months.

Very sad news indeed. Cryptopia was a nice exchange for many smaller Altcoins. Wuth things like this happening, To me it looks like we are entering the era of decentralized exchanges. Many of the Altcoins on Cryptopia are now almost exclusively on DEXs like Cryptobridge. Its for the better for the user as  we are now in control of our own keys.

This is really unbelievable! I have some units of graftcoin there and I am just hearing about this shutdown of cryptopia exchange platform for the first time.  I don't know if there is a provisions for investors and traders been able to withdraw their hard earned investments funds?  It is really a pity that this is happening at this time that I think cryptopia do give opportunity for those that want to makes money from the pump and dump of some coins.

The Press release on their website says this:

"The liquidators are also working with independent experts and the relevant authorities with regards to the company’s obligations."

By "company's obligations" they probably meant paying off whatever amount in crypto a customer had on the exchange before shutting down (as well as settle the outstanding claims made by creditors, employees, shareholders, etc). The whole process could take months, even more, so you might want to sit tight and wait for a long time for the whole thing to resolve to see if you can get your coins back.

this press release says it all

https://i.imgur.com/KavOAwM.png

if they are in the liquidation mode, they will be shutting down soon. i guess. i hope all those small time users can get their coins out as well. good luck!

Ever since cryptopia reopened after the hack, most of its coin wallets and withdrawls were suspended so it was not giving a good vibe. This announcement seals its fate. Just hoping that it will reopen again some day and will allow customers to withdraw their coins before closing for good.

Lets hope this security problem doesnt get to affect newer exchanges so we get to make convincing trade without any fear for now is best we just hold and see if they unfrozen the funds which they might likely do since they didnt announce anything like closing

But you forgot the rule in crypto. Its not your money if you dont hold the private key. Its their money because they have the private key, they control the funds.

They are likely going to shut down, as no one would trust them anymore.
Your best option now is just to wait until you can withdraw your coin/s, for sure you are not the only one who the kind of problem.

Its a dark day for the users of cryptopia, especially those who are unable to get back their losses. Cryptopia was able to get active again after the hack but suddenly becomes inactive again, they must let the users to get the money its their fault and they should shoulder everything. Always don’t put big money on a wallet which you can’t control for your safety.

I think they will fix all the problems and will be back live! I have some funds there and I can see them. That's mean our funds are stuck there! I asked through email that can we withdraw our funds or they are just numbers! I got no answer! Personally, I did not like Cryptopia exchange for many reasons, but still, I have some funds there! It's mean we need trusted exchange, like or dislike doesn't matter here! I hope Cryptopia will be back very soon like the Binance!

As of now, they are freezing all funds on their wallet that's why deposit and withdraw is unable to do. I don't think if this exchange will recover their loss since people now are afraid of them to store money. Just like they are not trustworthy exchange that you need to be careful into them. However, for me, there's a lot of reputed exchange out there rather than cryptopia.

A shitty exchange site will turn into the scam exchange site then. I won't put a lot of hopes. I still have some amount that left on the cryptopia and i just consider my amount has gone. Why doesn't this crappy exchange site make its withdrawal available for at least a week to give a chance for the token holders that still have an amount in there to withdraw their money?
Cryptopia is a crap one same as any other crappy exchange site especially yobit

In my opinion, Cryptopia will let the customers and investors withdraw their holdings from the exchange. If they are bankrupt and fille the bankruptcy declaration then we need to act as quick as possible. Investors will not let their money to get seized by some group of criminals.

Yes, I think so too, that Cryptopia has been financially bankrupt, so their exchange market has been stopped for reasons of re-investigation, but I think that is the step of Cryptopia to retreat slowly.

Its really bad . Its been for several month and cryptopia can not recover the loses thebn call a liquidator. A lot of crypto trader and investor will lost their money because cryptopia security breach scandal

It seems so. I hope we are going to be able to withdraw our funds. Hopefully i didn't have a lot of coins there. That's a very sad news.

I was very sad to hear the news about cryptopia because I past used to trade there a lot and now went to experience bankrupt. actually it is an example for other exchanges to have strong security from hackers. now I see many new exchanges and hopefully not having the same fate as cryptopia. ::)

They can't just shut down as the balance many users had in their accounts were not hacked and forget about paying the hacked funds to customers, they did not even give us our own money. Unlike Binance that paid users even though they got hacked and that too in a week.

I saw news of David Ruscoe and Russell Moore, stating that it would take months, not weeks.  Clients of trading will be reached in two or three days, as indicated by Ruscoe.

in my opinion they are not disappearing. only in repairs that take a long time

That was a big loss, I have traded some coins on crytopia before and they have a little amount of transaction fee compare to other exchanges and they have a friendly user website too. That was last year when I sold my Airdrops coins there. I wasn't expected it to happen that it will be gone this year that's really a bad news.

I think we'll get a chance to withdraw coins. It's not a scam exchange. But as others have said this is likely to take quite some time for them to resolve everything and open up withdrawals again. Just another reminder not to keep large volumes of coins on any exchanges.

Of course it's sad, I still have a few tokens and coins there, and now they close their service, I hope they will be normal again soon, and of course this makes the crypto reputation bad.

They chose not to open the withdrawal process maybe because a lot of user accounts were affected by the hack and so it is possible that your account may have zero -- nothing remained in there. Unlike Binance, Crytopia did not establish a fund that can mitigate any successful hack and that is why this exchange is officially dead. Let's hope that the receiver can equitably distribute what belongs to its users. Crytopia was short of a vision and anticipation while they are aware that they are in an industry that is in danger everyday as hackers are evolving to be sophisticated and innovative in their jobs.

Yes, they can. Any company that files for liquidation will immediately cease any type of activity in order for assets to remain freezed before the liquidation process begins.

And unlike Binance, Cryptopia didn't have a SAFU which, according to Binance, are funds that will be used for any type of emergencies suchs as the exchange getting hacked and/or users cryptos stolen.

Due to lack of interest in the security aspect of the Cryptopia platform, This platform has already died after this hacking in January, Which had a severe loss of 15 million dollars, I think Cryptopia if it want to satisfy its customers after they lost confidence in its platform, they have to open the withdraw for all Cryptopia platform customers, after they have finished closing the gaps of the platform, They work slowly and i think it will require months and not weeks, I hope the New Zealand police will be able to find the hackers group that caused these huge losses to the platform and made the users of the platform in utmost concern because of losing their money.

In reality, it is as if he had never opened; they tried but they lost the trust of the users who tried to withdraw in bulk and in doing so the administrators were "forced" to officially close and declare bankruptcies, probably too many withdrawal requests.

This unpleasant episode for some we hope will serve as a lesson for many other new users:

IF YOU DON'T HAVE YOUR PRIVATE KEYS, YOU DON'T HAVE YOUR COINS!

I liked this exchange and I kept some amount in different coins on the balance in my account at the time of the breaking of the exchange. When they resumed access to their accounts, I thought that they would soon open the opportunity to deposit and withdraw coins, so I don’t understand why they gave up and decided to close completely. There were also many options to stay in the work.

Damn
from what i read, they need few months to discuss whats the next move

Hope they will return partial of my coins
Although its not that much, but still precious

I am no longer interested in talking about this exchanger, I have experienced an adverse event on this exchanger, therefore I no longer follow the development of this exchanger, let this exchanger go quietly.

Cryptopia is not my favorite exchange because i had lost funds to hackers through their weak security that made hacker to trade off my BCH despite my unsatisfaction with this company, i must say that they will not hold or denial you of your withdrawal without any reason.
They must have giving out several notice through email before such steps can be taking.
 

Even when Cryptopia resumed working after the hack, not all trading pairs and tokens were put into operation. For this reason, I still could not get my money back. And now a new blow - Cryptopia is closed again! Now it looks like it's forever. I hope that the team Cryptopia still return customer funds!

You can just read the message from the website if you will visit them.
https://www.cryptopia.co.nz

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Yes, there will be an investigation that go up to months just to be sure with that. What are the coins that you left there? it's already a long time when many had warned to pull out your funds there.

Cryptopia never told users to remove their funds and it was only recently when they enabled bitcoin withdrawals while altcoin withdrawals had not started. I have CAPP, COR and few other coins that are still having live trading markets but now won't be able to get them back ever.

everything goes all in your mindset if you think the cryptocurrency field will not been going well then it seems like the same that your thoughts is going but if you had the concerned about the future then it will definitely go and perform well in the future that is the difference between the mind set.

Well I thought Binance was going to bite the dust with their recent hack, but they turned out to be solid.  Every other time I've read about a big hack or security breach on a crypto exchange, it's turned out to be the death knell for them.

I never used Cryptopia, but I'm familiar with the name just from reading about them on this forum, and if they just went under....that's not good.  Not good for anyone.

That is definitely not cool and it just goes to show how this is still the wild west as far as crypto exchanges go.  I predict in 10 years from now, assuming bitcoin and altcoins are still around, that there are going to be only 2-3 big exchanges and that they're going to be tightly regulated.

I mean that warning that anyone shouldn't store most of your tokens/altcoins on any exchange including cryptopia.

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Sorry with those lost you've made, I guess that you don't put any hope of retrieving them again because of the situation that they are dealing with right now.

Not only him but i aware about that awareness but as traders and like me just try to put an order to catch the pump and that's why we are leaving some of our altcoin there.
But this just a little money and im not feeling sad to lose it.
Majority of traders are leaving some of their amounts in the exchange site to catch the top price and then they can buy back it again at the bottom price. We don't know if that happened.

They didn't work after the last hack incident. I think, unfortunately, they won't pay back investment right now also. Let go cryptopia. There is no benefit from it anymore. I've found a good one already. I am using a new exchange name is Prixbit. There is a huge trading contest ($400K). You may look at it also.

Essentially yes.  When liquidators come in everything is locked and it's up to the liquidators to pay back the account holders.  How that is done whether everything or partial is up to them.  I hope you did not use topia as a main wallet, this will happen over and over again
  Just keep your coins local and when you have to trade, deposit in, buy coin, then insta withdraw.   It cuts your risk down to a minimum

Cryptopia enters liquidation, it means a longer-term investigation and low chances to get your funds back, the exchange couldn't recover from fake january hack.

WellI guess that is what they mean, they just couldn’t get solution or help after the hacking. Initially after they opened their platform to trading, I thought the problem was already solved, but seems users were no longer encouraged to use them which made their volume to drop. It is so sad for their users, and most especially people like you that have your funds in their wallet.

I just hope that this same thing will not happen to Binance, because this was exactly the same part cryptopia followed too. Hackers have really done very big damages to this Cryptocurrency industry, and I do hope that there will be a solution to end the era of hackers completely.

I can be sure now is that those who hold money in this exchange will probably lose everything they have and this is a difficult time for investors who have participated in Cryptopia. I think weak security has cost them at this time and after being attacked they do not have any outside support that makes the company bankrupt. Personally, I was very fortunate not to know this exchange and hope that other exchanges will increase security in the future.

It is gone, unfortunately, a big hit to the crypto market.

At least i withdrew %85 of my btc couple of days their announcement of bankruptcy.

How are the mighty falling but what is surprising is that this is the first hack the exchange will suffer and fail to survive the hack. This is a lesson to us not to leave our money on these exchanges, I have said it before anything hackable will be hacked it is just a matter of time.

I was surprised to hear this.
but it would be nice to consult with the cryptopia, because I think only they can give the best answer to your complaint and to get your funds back.

This latest tweeted link from cryptopia answers some of the questions:
https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=20d84d54db69778084ed147a3a9619bc

It is going to take months before any decision is made. Not clear if some or most part of customer accounts will be used to settle company debts before paying anything.

Its not a big exchange its just one of the smaller exchange that was running for a long-time. I really dont think that it has an impact in the crypto industry.

the unexpected things are always possible in Crypto field so we cannot say this is only the good thing available in this field we have lots of choices available so we need to make the changes in your mind and another way of the next that is the only possible where available right now.

I guess they were hacked before and now, the news suddenly came ahead from their end that they got liquidated so yes, I don't think they are capable of giving back anything to their users at the moment.

See this - https://www.chepicap.com/en/news/9702/cryptopia-liquidation-everything-we-know-so-far-about-the-shutdown.html

Looks to me to be the best answer so far.

yes it really answer because they need to be more trusted for the investors but right now they will not doing it that is the only bad opinion about this changes otherwise we need to know our mindset to the other direction but still now we have the opportunity to manage it that is the way that our mind will go to move.

There is no news declaring that they were recovering from that tragic loss into the hackers.
They are not trying to help the community to get their money back and just gone. They are irresponsible team members. If your money were there, never expect to get it cause it for sure they don't care to give it back to the owners. 

Not yet but they look shady now! From the beginning of the hack, Cryptopia team did not answer all questions quickly, many people raise their fingers against cryptopia CEO and the team. However, I have no hope anymore, Cryptopia exchange may go to the end, or they just got hack again!

It's what a usual trader do. We leave some balance on an exchange and because we trust the exchange, we are confident leaving them with a good amount which is the wrong practice that should be changed.

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But learning with this incident, next time, leave the balance that you can afford to lose if something unexpected comes to that exchange.

I think they were hacked and don't think they can go back yet as of this moment. Good thing I already cash out my assets from cryptopia and move it to other exchange before hacked has happened.

I am looking away from that, I think I am still ok with Binance and kucoin exchange, they have got all the facilities that I need to make my trade successful, for the security part, I think I can handle that myself because I dint store my fund in any exchanges, and the little fund I have on them is what I use for my trading.

I am so sad that cryptopia is gone that way, it’s just because there are no unity among all exchanges, they would have just rallied round to really save the system, but I guess they will still come back again, it might not be in the name of cryptopia, but I know they will try and raise fund again through ICO or IEO for another exchange. Isn’t that their ways?

Oh well, I think we know that this is coming, specially after the hack, they said they are going back online, unfortunately, it's about time that they acknowledge that they are in the process of liquidation. Everyone has hoping that they will be back, but this is not Binance, they don't have SAFU or enough funds, so I do hope that those who still have some funds can withdraw, but I wouldn't be surprised if it will take a lot of time before someone can get their funds there.

Their exchange was hack and not safe anymore for some users they are able to withdraw their fund. And, find better exchange with good feedback that as a user we are safe to use and trade coins.

Cryptopia is gone i mean hacked almost few months ago i think you didn’t heard this news. Site was shutdown but now recently they try to start newly everything. Exchange is now live i have some coin in wallet and still it’s showing but i cannot withdraw it.          

it was shocking and what happened to them now I haven't been trading there for a long time and I also have a few coins there, if it's true their exchange is hacked so it's not safe anymore I think they will improve as soon as possible hopefully they will come back as soon as possible.

Hey man, why did you quote me when you didn't understand what I clarified in my words to OP?
I didn't adjoin anything with their hack and their current liquidation situation, but just gave it as an example that they are most probably victims (not sure, but it happens) and based on our mentality, we may be taking them wrongly and who knows if they couldn't do anything to help out the traders by being stuck in a situation where they have lost their funds already. How would they try even if they want to?

It is sad for the traders who have funds to the cryptoia because they did not give atleast few days to cashout all of they coins that they have on that exchanges site. I traded there before to sell my coins but I've never tried again so I don't have any news from that site.  So what happens to the coins of the traders? I hope they back them because the coin they have for sure is really worth it even small amount.

They not let you withdraw your coins from exchange? They sent some email before to announce they will close and to withdraw your coins? If not is not good at all that they not inform and also not give some time for people to withdraw coins, they should only stop trade and let people withdraw.

I never expected this s with cryptopia we have seen lots of scams . I have some electroneum as well as other uneffected funds in cryptopia already lost some of ether in hack . Finally I became fool by trusting this exchange . It looks lovely ke clear exit scam.

How they will come back if your having fund in exchange you wouldn’t make this kind of comment . We are here to discuss and find alternative as a investors in cryptopia we are much worried and your easily saying they will improve . There is nothing to improve they have to return investors money.

Since it has already involved liquidator, their coming back is shaky. Anyone that have any token should watch for any opportunity to  withdraw them. It has nor been easy for crypto community over the past 15 months

There will never be a return of Cryptopia because the confidence of investors is now lost forever, and those who still had a coin / token can consider them lost; the only hope, very small, is a partial refund on some Coins, like Bitcoin, but only after many months, after the liquidation and the bankruptcy procedure.

I think that many users of cryptocurrency will not repeat such a mistake and will not fall into the same pit twice.  If the company has declared itself bankrupt, while reserving enough questions for itself, this clearly indicates that you can no longer pay attention to this, even if the situation improves.

This is to be expected because the first ever Crypto exchanges is also gone or shut down. Because of the popularity of the crypto currency, hackers all around the world are making their move to get even a cent from this famous exchanges they're just waiting out there for a single opening when they see one. That's it, Exchanges will either shut down or face bankruptcy.

It seems that you have not read their announcement. The crypto really went bankrupt but the money of traders on exchange is still there and they will refund it to everyone. Don't worry too much, they will be responsible for the amount of investors because they are being controlled by the government.

Right, a lot of people say that. But some traders wouldn't want to transfer their coins every they want to trade. I think dex kind of market will be famous if this thing keep happen. Because in dex, people control their money.

The authorities of New Zealand hold the exchange again for investigation that can take months, based on what i check on cryptopia site. I guess cryptopia is not completely gone but you need to wait.

Good luck to you OP, i hope your coins still fine there. I'm surprised people still want to use cryptopia after the hack.

I heard that the creator or Cryptopia (or some of the main persons there, I'm not sure) is now creating a new exchange. Is that true or just rumors? Did you hear that?

I had little bit of altcoin on the exchange and I can not withdraw it when I have tried. Really it will be very bad if cryptopia shut down their exchange. We seeing many exchange are hacked day by day even binance also hacked few days ago . we should aware of holding crypto on the exchange because as we seen anytime can hack any exchange. So be serious about it .

I also have some altcoins but I cannot even log into the website to see what I had there.
Checking their twitter today >

https://twitter.com/Cryptopia_NZ/status/1131387671161425922

It makes no sense to return funds to traders. It is better to create a new exchange, and then go bankrupt again.

Last news:

cryptopia is a good exchange for me, they provide altcoins that are not available in other large exchanges. and at that time they often experienced problems about the security of their site. until now there is a very fatal problem so that the funds left there have frozen and most likely will not disappear again

Just like Mt Gox, Cryptopia is finally gone and I do not thing there will be a revival moment for it. What is left now is probably litigations to bring its liquidators to book. However, the important bodies in cryptocurrency should do more towards putting up security infrastructures to protect users

Yeah, from what i read
There will be no revival based off what they actually announce
Liquidators are liquidating assets to pays off the customer

But i am still wondering, how would they actually pay back
Based on Fiat on the time the exchange closes? Or the current price of the day?
I doesn't have much coins there but kinda wondering how they gonna deal with it

Luckily I have withdrawn all my assets before the hacking occurs. I did not follow the news, have they made a refund to their user?
because sometimes I see cases about exchange hacking, but it's only their alibi to scam their users

Based on my experience, I can say that they are a good exchange, I never use it regularly but in the times I used it, I never face a single problem.
Only one bad thing I can still remember is that they have a huge withdrawal fee and it's not good if you regularly withdraw.

But then again, nothing is permanent, one site created and the other site is gone, and Cryptopia's journey is just over now.

So, I guess this thread has to be close also.

maybe there is a special reason for cryptopia gone, I think if there isn't a big problem cryptopia will still survive and maybe now it won't close or leave leaving disappointment for the members