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1  Economy / Exchanges / Re: Cryptopia: Lot of users with issues in withdrawal and deposit on: January 21, 2018, 11:01:02 PM
If it was just a minor problem.  Sure, it happens.  Taking a while to answer support tickets, sure it happens.  

For almost all of the posts in the forums to be about missing deposits, missing withdraws, not limited to any few coins,  it is many many coins.

The problem is when they advise of a 12 day window in responding to tickets, yet numerous people are over 3 weeks and still have not heard anything from their support.  

Not only do they not respond to most people.  If you try to bring it up on their discord channel, you get banned.  

But the absolute worst part that I am reading on their own forums.. Since their server upgrade at Christmas, tickets for withdraws that do not show have been answered and verified by the user.  I have yet to see ANY posts from people from Dec. 26th 2017 to current that has a missing deposit and has either finally gotten a message on their support ticket or has received their coins back.

Furthermore,  this is not the exception to the rule.  It seems to be the new rule,  I am not sure if the owners do not care about the image that they are giving themselves, or if they do not care because of the huge volume of new users that they can afford to skim large deposits from people.  Especially, since they specifically include that even problems caused by them, they cannot be held responsible for.

Except, that might fool many people that are ignorant of consumer financial protection legislation.  Which in New Zealand, where Cryptopia is based in Christchurch, does offer consumer financial securities protection through the Financial Markets Conduct Act 2013.  

Since they fall under the category of operating a value transfer service, and they are registered under New Zealand's Financial Services Registry, and fall under the enforcement of the New Zealand Financial Market's Authority.  

Under part 4, section 28 of the Consumer Guarantees Act of 1993 services supplied by Cryptopia are guaranteed to be done with reasonable care and skill.  Fortunately, for us as customers of Cryptopia we are guaranteed certain consumer protections under New Zealand law since they are a value transfer service.  

They must guarantee certain protections to consumers, whether or not we are citizens, or residents of New Zealand.  Furthermore, they can also incur civil liability due to an omission, which would include not advising your customers that there are problems with deposits after their infrastructure upgrade.  

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