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Author Topic: Cryptopia Cryptocurrency Platform Services and Development  (Read 138777 times)
Larsin
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January 23, 2019, 03:45:11 PM
Last edit: January 23, 2019, 03:57:49 PM by Larsin
 #2501

Who knows what financial reserves the company has? Someone threw the news that it received a million profits a day.I would like to get at least half of my amount, but with such news it becomes quite sad.
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Lind
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January 23, 2019, 05:58:38 PM
 #2502

https://www.reddit.com/r/Cryptopia/comments/aib9ic/on_the_hack/ - Read this.

"After Cryptopia discovered the hack, they watched the funds continue to flow out of their wallets for four more days, seemingly powerless to stop it. As these wallets were not smart contracts, there should have been no technical complications preventing Cryptopia from securing the funds. The only plausible explanation for Cryptopia's inaction is that they no longer had access to their own wallets."

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DADIBLAND
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January 23, 2019, 06:28:01 PM
 #2503

And what about the other currencies
Why they do not allow members to access their accounts
RafalZ
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January 23, 2019, 06:38:55 PM
 #2504

Because probably everything is gone
DenysM
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January 23, 2019, 07:58:46 PM
 #2505

Police making progress in crypto-currency investigation
http://www.police.govt.nz/news/release/police-making-progress-crypto-currency-investigation
I worry that the exchange for more than a week does not give any news/updates. I think that they have some kind of fund and they must return some of the stolen money. Hoping for the best. This is one of the oldest exchanges and I hope he will return.
almightyruler
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January 23, 2019, 09:11:21 PM
 #2506


Wasn't this the same newspaper that sensationally reported that Police "stormed" the offices of Cryptopia?

The stuff.co.nz article says,

"Elementus identified the currencies, their value, and the exchanges where they have been traded. Bitcoins were not involved, with the main cryptocurrencies being ethereum, oyster pearl, and dentacoin"

...however the Elementus article clearly says,

"We have not examined the Bitcoin blockchain or other blockchains"

Sloppy.
Winstar78
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January 23, 2019, 09:33:13 PM
 #2507

looks like according to the terms of service cryptopia's maximum rembursement to an user for cryptopia's faults is $ 5000 (i think NZD)
almightyruler
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January 23, 2019, 09:46:16 PM
 #2508

looks like according to the terms of service cryptopia's maximum rembursement to an user for cryptopia's faults is $ 5000 (i think NZD)

Link? Terms and conditions generally cannot override (local jurisdiction) law, so if it turns out that funds were lost through gross negligence or some other corporate no-no then I doubt these limits would apply. Such a limit sounds more like additional compensation (say, via legal action) rather than a hard limit on customers accessing their own funds?
Winstar78
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January 23, 2019, 10:54:19 PM
 #2509

https://web.archive.org/web/20190113164519/https://www.cryptopia.co.nz/Home/Terms#12

paragraph 12
almightyruler
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January 23, 2019, 11:08:39 PM
 #2510


See 12.1(c)

"Nothing in these Terms is intended to limit any rights or remedies a User may have under the Fair Trading Act 1986 or the Consumer Guarantees Act 1993."

And 18.4(a)

"You agree to use our service in accordance with the law in New Zealand and the applicable law in your jurisdiction. Where any of these Terms does not meet the minimum requirement of the law, those terms and conditions are deemed to be amended to the extent of compliance."

Seems like boilerplate lawyer-speak to me: these are our terms, but some of them 'may' be overridden by law, and it's solely up to you (or perhaps the courts) to determine what is or isn't valid.

Regardless, I doubt that a company could legally limit their liability to repay funds held on behalf of customers. Otherwise, they could just close up shop and keep the difference.
trackers
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January 24, 2019, 01:27:55 AM
 #2511


See 12.1(c)

"Nothing in these Terms is intended to limit any rights or remedies a User may have under the Fair Trading Act 1986 or the Consumer Guarantees Act 1993."

And 18.4(a)

"You agree to use our service in accordance with the law in New Zealand and the applicable law in your jurisdiction. Where any of these Terms does not meet the minimum requirement of the law, those terms and conditions are deemed to be amended to the extent of compliance."

Seems like boilerplate lawyer-speak to me: these are our terms, but some of them 'may' be overridden by law, and it's solely up to you (or perhaps the courts) to determine what is or isn't valid.

Regardless, I doubt that a company could legally limit their liability to repay funds held on behalf of customers. Otherwise, they could just close up shop and keep the difference.


The Acts mentioned are the standard consumer protection acts in New Zealand; those clauses are just saying they cannot contract out of the provisions provided by law (which for these laws in particular is correct)
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January 24, 2019, 07:47:41 AM
 #2512

https://www.stuff.co.nz/business/110099560/police-investigators-call-on-overseas-experts-meet-with-cryptopia-staff

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Winstar78
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January 24, 2019, 09:26:40 AM
 #2513


why post again this wrong article
pinoycash
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January 25, 2019, 01:24:49 AM
 #2514


Since this is not an official media outlet for cryptopia but they are the only media website who has first hand experience on the crime scene. We still need to be thankful someone is providing unbias report directly from the ground.

Timelord2067
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January 25, 2019, 03:36:25 AM
 #2515


Since this is not an official media outlet for Cryptopia but they are the only media website who has first hand experience on the crime scene. We still need to be thankful someone is providing unbiased report directly from the ground.

You're forgetting Radio New Zealand have people on the ground in Christchurch.

Then there's TVNZ https://www.tvnz.co.nz/one-news/new-zealand/nearly-6-million-in-transactions-took-place-early-hours-day-christchurch-cryptocurrency-exchange-cryptopia-suffered-security-breach

and Future Five https://futurefive.co.nz/results?search=cryptopia

...so don't put all your news feeds into the one basket.

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Verdell
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January 25, 2019, 06:41:35 AM
 #2516

If your coins on cryptopia weren't. Hacked will you be allowed too withdraw them and when will you be allowed access your cryptopia account too see what if anything is left
Winstar78
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January 25, 2019, 02:00:02 PM
 #2517

If your coins on cryptopia weren't. Hacked will you be allowed too withdraw them and when will you be allowed access your cryptopia account too see what if anything is left

i would just like to know if cryptopia assessed a loss of 15 or even 30M $, if it can be solvent and continue business or will decide to bankrupt and we all lose.

I think they already know how things will end.
DADIBLAND
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January 25, 2019, 02:20:59 PM
 #2518

If your coins on cryptopia weren't. Hacked will you be allowed too withdraw them and when will you be allowed access your cryptopia account too see what if anything is left

i would just like to know if cryptopia assessed a loss of 15 or even 30M $, if it can be solvent and continue business or will decide to bankrupt and we all lose.

I think they already know how things will end.
We pay for their mistakes
Kamayulka78
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January 25, 2019, 02:48:36 PM
 #2519

I also had funds on the stock exchange! What will happen to our assets? Who has the reference to the telegram?
Winstar78
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January 25, 2019, 03:03:36 PM
 #2520



at this point, when a single IT operator can have access to all the private keys of an exchange, that handle million of dollars, I think any exchange will ever be 100% safe. When the prize is higher than a certain amount, there is no honest man, everyone has his price.

AND, cryptos are barely traceable.
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