Liquidators of Hacked Cryptopia Exchange Release Report, Note $4.2M Owed to Cred

[Vladdirescu87]

The liquidators of now-defunct New Zealand crypto exchange Cryptopia have released the first report on the state of affairs of the firm, according to the documents published on May 31.

Cryptopia’s recently assigned liquidator, Grant Thornton, has released an estimation statement of the financial state of the firm, reporting that the hacked exchange owes a total of $4.22 million to its creditors.

According to the report, there are 69 unsecured creditor claims totalling $2.439 million, with the liquidators adding that they expect to receive further claims, thus raising the amount.

https://cointelegraph.com/news/liquidators-of-hacked-cryptopia-exchange-release-report-note-42m-owed-to-creditors

[Mux@]

You can follow Cryptopia exchange news on the official website: https://www.cryptopia.co.nz/
All the latest news You will receive from the official source. And a link to the first official report on the Affairs of the Cryptopia exchange there, too. Posting this link here, anyone interested: https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/first-liquidators-report-31-05-2019.pdf
It is better to get the news first hand than from the media.

[chocopapaya]

Tragic, but it was a long time coming.
All of these older exchanges never really updated their business and security models.
Even with so many cases of hacking and instability, they never evolved.
Here's the thing, if you base your exchange after the model set up by Mt. Gox, then you are doomed for failure.

Meanwhile, all the newer exchanges are setting higher standards, mostly set by binance.
More security, more back up plans, transparency, stability.
And of course, dexs that make all of those centralized exchange issues not even exist.

From the beginning, trying to centralize something that is meant to be decentralized just doesn't work.

R.I.P. cryptopia, you were my favorite place to pick up joke coins...where am I going to get my nyancoin and fucktoken now?