Cryptopia Cryptocurrency Platform Services and Development

[BenTheAnonMod]

I'll leave this here because it sums things up pretty well



I like his nickname for FUDtalk better to be honest

[xtraelv]

First, when saying delisting I mean halted trading and deposits. For at least the following coins that happened out of the blue and without prior announcement and without any of these coins suffering even an attack:
GEN, SPACE, SJW

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=3759c7bcdb45e780d7e096888a961976

SPACE and SJW have a known vulnerability that can cause immediate losses. (Undetectable until after the event)
Low network hashrate and many available cheap asics to rent make it a serious problem.
They also have no working, reliable block explorer that I could find.

GEN I couldn't find details about.

[Labrader]

Most of the staff, shareholders, CEFs holders and coin devs that have listed coins are in the same position as the standard members of the exchange. Most of them will have crypto balances on the exchange, investments that are reliant on the exchange and few or no answers. There are many coins that are reliant on the exchange for trading volume.  It is in everyones interest to get this sorted out so everyone can have some answers.

Coincheck took 10 months to re-open. I think Cryptopia deserves more than 9 days back in their premises to provide some answers.

Every good business practice that I know of dictates that, in situation of crisis, you engage with your customers. You reassure them you're doing everything you can. You provide (honest) status updates. This brings confidence to customers and allows them to support you while you overcome the crisis. If that's what you actually intend.

But here we see nothing of this kind. No real communication. No real information about what happened. If you have a channel with the owners or managers, tell them they are doing it very wrong.

[xtraelv]

Every good business practice that I know of dictates that, in situation of crisis, you engage with your customers. You reassure them you're doing everything you can. You provide (honest) status updates. This brings confidence to customers and allows them to support you while you overcome the crisis. If that's what you actually intend.

But here we see nothing of this kind. No real communication. No real information about what happened. If you have a channel with the owners or managers, tell them they are doing it very wrong.

Before paying someone to engage in PR they need to establish whether they can continue trading. Otherwise it is my and your funds they spend on that PR.

[BenTheAnonMod]

No real communication.

In your opinion. As Xtraelv mentioned, they seem to update every 14 days so far so assuming we'd get an update this week or next.

No real information about what happened.

They might not have that information yet, let alone be ready to share it with the general public or if that would even be safe to do.

Personally, I'd rather wait to hear what they have to say than listen to anyone in here... since there are a lot of personal agendas flying around and no facts or proof.

[royalfestus]

Actually they did just that - they suspended trading at the moment of the announcement, that's an effective delisting.

I've lobbied on behalf a couple of coins that were queued to be delisted and got it reversed after fixing the issues that started the delisting process.

The delisting criteria is clearly stated on their website and it is no mystery why coins get delisted.

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=5d7482d2db9e9bc032a664a14a96199f
https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=b8aa010ddb452b80d7e096888a961934

I've had it a number of times where the coin dev was aware of the issue for a long time prior to delisting process starting but did nothing qbout it but messaged me to help them within hours of the markets being paused.  

When the issues were fixed the delisting process was stopped and the paused market resumed trading.

If they could announce such delist they should be able to inform traders and all that might be involve with the coin that the delist has been reconsidered and the process had been suspending. It could deprive alot of people who heard the news and not corrected. It is sometimes disappointing how some project teams behave after listing project. They dont care about a lot of things again after listing, such process could be a corrective measure.

[Labrader]

Before paying someone to engage in PR they need to establish whether they can continue trading. Otherwise it is my and your funds they spend on that PR.

No one needs to be paid. The CEO or the owners should be the ones providing the updates and reassure everyone they are doing everything they can to overcome the situation. If it comes to hiring PR firms, then it means things are dire.

They might not have that information yet, let alone be ready to share it with the general public or if that would even be safe to do.

That's impossible. If police was there, it means there was a complaint filed, therefore something to complain about. Please don't keep insulting our intelligence claiming they (still) don't know what happened.

Personally, I'd rather wait to hear what they have to say than listen to anyone in here... since there are a lot of personal agendas flying around and no facts or proof.

Pressure from the customers is good. It keeps you on your toes and reminds you of your duty to people who have entrusted you with their hard earned money.

[BenTheAnonMod]

Before paying someone to engage in PR they need to establish whether they can continue trading. Otherwise it is my and your funds they spend on that PR.

No one needs to be paid. The CEO or the owners should be the ones providing the updates and reassure everyone they are doing everything they can to overcome the situation. If it comes to hiring PR firms, then it means things are dire.

They might not have that information yet, let alone be ready to share it with the general public or if that would even be safe to do.

That's impossible. If police was there, it means there was a complaint filed, therefore something to complain about. Please don't keep insulting our intelligence claiming they (still) don't know what happened.

Personally, I'd rather wait to hear what they have to say than listen to anyone in here... since there are a lot of personal agendas flying around and no facts or proof.

Pressure from the customers is good. It keeps you on your toes and reminds you of your duty to people who have entrusted you with their hard earned money.

They actually have commented, in the Cryptopia discord that no one in here wants to join...



Digger is the Managing Director of Cryptopia and posted on 01/27/2019

(email in question sent to users) -

"For those who are querying the NZ Police e-mails referred to, they are legitimate and are copied to me by NZ Police. We will respond when we have substantive facts to report when the investigators give us approval. Until then we are tied as the authorities do not want us to make any statements that might by accident exacerbate the situation and cause more damage."

This was posted too on 01/20/2019

"The co-founders, shareholders, executive and the entire Cryptopia Team appreciate the support that is being demonstrated here.

We cannot even consider re-opening the exchange while the investigation is in progress.

To even consider doing so would be totally irresponsible of us as it could likely make the way clear for further attacks and even more damage.

Please have patience and faith. We will continue to update everyone as and when we can. Take no notice of the armchair experts."

Confirming everything we have said so far. So again, I would suggest you get your information from either the Cryptopia Twitter, Facebook or Discord... Thanks

[xtraelv]

No one needs to be paid. The CEO or the owners should be the ones providing the updates and reassure everyone they are doing everything they can to overcome the situation. If it comes to hiring PR firms, then it means things are dire.

Cryptopia is a Limited liability company. (LLC) It has no "owners". It has shareholders and a director.
The shareholders don't run the company or have any say in the management of the company.
If you buy shares in Microsoft can you speak on their behalf ?

So someone will be paid for PR if there is PR.

[psycodad]

First, when saying delisting I mean halted trading and deposits. For at least the following coins that happened out of the blue and without prior announcement and without any of these coins suffering even an attack:
GEN, SPACE, SJW

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=3759c7bcdb45e780d7e096888a961976

SPACE and SJW have a known vulnerability that can cause immediate losses. (Undetectable until after the event)
Low network hashrate and many available cheap asics to rent make it a serious problem.
They also have no working, reliable block explorer that I could find.

GEN I couldn't find details about.

Can you please specify if low hashrate or a known vulnerability was the problem (or both)? With vulnerability are you merely refering to a more conservative max_reorg figure or do you think there is a more serious problem? If so, why can this be shared with the community or the devs when a problem in code is actualy found?

Space Blockexplorer is and has always been here: http://space.midnightminer.net/ , working fine as I can judge from daily use.
SJW Blockexplorer is since roughly a year here: https://sjw.netcraft.ch/ (this has been brought to Cryptopias attention even, also working fine)
GEN was unlisted because it's self-proclaimed dev Hort had an argument with Adam and it got delisted/deactivated same day (only quote of Horts post available: https://bitcointalk.org/index.php?topic=1205536.msg16038573#msg16038573)

Also I asked Lafu about Space removal in a german thread and only got referred to their coin listing policy in general. leaving unanswered if there is a problem in code they are unable to share info about or just the low hashrate that they saw as a danger for double spends in deposits.

[BenTheAnonMod]

First, when saying delisting I mean halted trading and deposits. For at least the following coins that happened out of the blue and without prior announcement and without any of these coins suffering even an attack:
GEN, SPACE, SJW

https://support.cryptopia.co.nz/csm?id=kb_article&sys_id=3759c7bcdb45e780d7e096888a961976

SPACE and SJW have a known vulnerability that can cause immediate losses. (Undetectable until after the event)
Low network hashrate and many available cheap asics to rent make it a serious problem.
They also have no working, reliable block explorer that I could find.

GEN I couldn't find details about.

Can you please specify if low hashrate or a known vulnerability was the problem (or both)? With vulnerability are you merely refering to a more conservative max_reorg figure or do you think there is a more serious problem? If so, why can this be shared with the community or the devs when a problem in code is actualy found?

Space Blockexplorer is and has always been here: http://space.midnightminer.net/ , working fine as I can judge from daily use.
SJW Blockexplorer is since roughly a year here: https://sjw.netcraft.ch/ (this has been brought to Cryptopias attention even, also working fine)
GEN was unlisted because it's self-proclaimed dev Hort had an argument with Adam and it got delisted/deactivated same day (only quote of Horts post available: https://bitcointalk.org/index.php?topic=1205536.msg16038573#msg16038573)

Also I asked Lafu about Space removal in a german thread and only got referred to their coin listing policy in general. leaving unanswered if there is a problem in code they are unable to share info about or just the low hashrate that they saw as a danger for double spends in deposits.

It is actually in the coin listing requirements that Coin devs contact Cryptopia as soon as THEY know there is a vulnerability with their listed coin. It is not Cryptopias job to chase up Coin devs even though they do, All coin devs agree to these requirements along with other conditions when their coin applies for listing and is accepted.

[xtraelv]

Can you please specify if low hashrate or a known vulnerability was the problem (or both)? With vulnerability are you merely refering to a more conservative max_reorg figure or do you think there is a more serious problem? If so, why can this be shared with the community or the devs when a problem in code is actualy found?

Space Blockexplorer is and has always been here: http://space.midnightminer.net/ , working fine as I can judge from daily use.
SJW Blockexplorer is since roughly a year here: https://sjw.netcraft.ch/ (this has been brought to Cryptopias attention even, also working fine)
GEN was unlisted because it's self-proclaimed dev Hort had an argument with Adam and it got delisted/deactivated same day (only quote of Horts post available: https://bitcointalk.org/index.php?topic=1205536.msg16038573#msg16038573)

Also I asked Lafu about Space removal in a german thread and only got referred to their coin listing policy in general. leaving unanswered if there is a problem in code they are unable to share info about or just the low hashrate that they saw as a danger for double spends in deposits.

I've sent you a PM.

[four3200]

Before paying someone to engage in PR they need to establish whether they can continue trading. Otherwise it is my and your funds they spend on that PR.

No one needs to be paid. The CEO or the owners should be the ones providing the updates and reassure everyone they are doing everything they can to overcome the situation. If it comes to hiring PR firms, then it means things are dire.

They might not have that information yet, let alone be ready to share it with the general public or if that would even be safe to do.

That's impossible. If police was there, it means there was a complaint filed, therefore something to complain about. Please don't keep insulting our intelligence claiming they (still) don't know what happened.

Personally, I'd rather wait to hear what they have to say than listen to anyone in here... since there are a lot of personal agendas flying around and no facts or proof.

Pressure from the customers is good. It keeps you on your toes and reminds you of your duty to people who have entrusted you with their hard earned money.

BenTheAnonMod is the paid PR
His mission is insulting our intelligence claiming they (still) don't know what happened. 6 weeks after it happened.
There are no facts or proof.
Except that your coins that you entrusted to Craptopia are POOF GONE
They are no longer yours.  You have no access nor accounting.
No communication, except for the asshats here gaslighting their clients.


Anyone with information which could assist the investigation can contact police by email at crypto@police.govt.nz

An report the fact that honest up right businesses never behave in this manner.
The fact that the delistings were likely means to make BTC by robbing the clients.
And the "unscheduled maintenance" as reported was just that.  Moving out the clients funds with ill intent.
aka Theft from the Inside.

Step 1.  Lock chains for months. Prevent customer access.  Dump on another exchange.  After 2-3 months buy back, pure profit!
Step 2.  Claim double spend attacks on dozens of chains, dump on the markets you control completely.  Freeze them and delist them, pure profit!
Step 3.  Go for broke.  Steal all the coins.  Blame hacker.  All profit!

[xtraelv]

BenTheAnonMod is the paid PR
His mission is insulting our intelligence claiming they (still) don't know what happened. 6 weeks after it happened.
There are no facts or proof that your coins other than you entrusted them to Craptopia and POOF they are no longer yours.

I think he is sitting at home bored (it is 4 am in NZ) watching people attack his friends and family.

If people would say such things about people you care about. Would you say nothing ?

[four3200]

So then he is "family" to the fiduciary?

[BenTheAnonMod]

So then he is "family" to the fiduciary?

Depends on your definition of family, I consider all the mods etc to be family. I think its also hilarious people expecting civilised responses given the responses we received in posting here. Bit hypocritical

"Be nice to us, you [Insert every swear word and insult we've been called so far]"

Hilarious

[four3200]

family like mafia
ignore the trolls, they are just here to shift blame and otherwise misdirect

Anyone with information which could assist the investigation can contact police by email at crypto@police.govt.nz
Tell them INSIDE JOB.

[BenTheAnonMod]

family like mafia
ignore the trolls, they are just here to shift blame and otherwise misdirect

Anyone with information which could assist the investigation can contact police by email at crypto@police.govt.nz
Tell them INSIDE JOB.

I don't think the police asked for your opinion, they asked for information... proof, facts etc.

Again, someone in here pushing their own agenda.

Tell them INSIDE JOB.

Feel free to do exactly that though, I'd love to hear their response.

[Labrader]

Cryptopia is a Limited liability company. (LLC) It has no "owners". It has shareholders and a director.
The shareholders don't run the company or have any say in the management of the company.

So basically there's no one to talk to and obviously no one to blame. No one to blame. Isn't that what you're saying here since you two started doing "damage control"?  

I think he is sitting at home bored (it is 4 am in NZ) watching people attack his friends and family.

Family, that's strange. Tell this family to start taking responsibility, to start telling customers what they intend to do with their money and no one will be "attacking" them. That's bold and presumptuous, calling "attack" people being concerned about their money.

[fmz89]

family like mafia
ignore the trolls, they are just here to shift blame and otherwise misdirect

Anyone with information which could assist the investigation can contact police by email at crypto@police.govt.nz
Tell them INSIDE JOB.

lol "Tell them INSIDE JOB" not like that tell them do you want a chicken