Cryptopia Cryptocurrency Platform Services and Development

[pinoycash]

covered by what ? either they have insurance or they dont u cant get blood from a stone or are the shareholders liable ? im sure there is some small print that saves them from taking any personal losses.

The company is liable 100% to the creditors, this includes people having coins on the exchange.

I hope that this "everyone takes a 10% haircut" bullshit goes away thats not even possible for most coins on there that are pretty much illiquid dead with no real buy support so that would be a very uneven haircut

This haircut BS is being peddled by users. No one from the exchange has mentioned a haircut (yet). So it's baffling that people are asking for a haircut. Or are trolls sent to get us acquainted with the idea.

If you are not a troll, then it's plain stupid on your part to ask for a haircut. You, as users, should oppose any haircut.

Mind conditioning, I will not accept any Haircut loss to cover any loss of other tokens. Crytopia should be the one to cover their losses.

The read only mode on monday is good development so far but still i am waiting for the day that i can finally withdraw my money and move on from this mess.

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[digit]

Cryptopia afaik has never said anything about haircuts. There are many ways to move forward and be a win-win for everyone.

Who remembers Bitfinex hack? They paid back what they owed with the BFX token and with shares. This is crypto after all, it allows creative solutions that benefit everyone.

[sluppy]

Cryptopia afaik has never said anything about haircuts. There are many ways to move forward and be a win-win for everyone.

Who remembers Bitfinex hack? They paid back what they owed with the BFX token and with shares. This is crypto after all, it allows creative solutions that benefit everyone.

Yes but there is a Huge difference between Bifinex and Cryptopia also how they handled the aftermath so I dont see this was a valid comp.

[sluppy]

covered by what ? either they have insurance or they dont u cant get blood from a stone or are the shareholders liable ? im sure there is some small print that saves them from taking any personal losses.

The company is liable 100% to the creditors, this includes people having coins on the exchange.

The company yes but does the company have enough value to cover the losses. Is cryptopia worth 20 mln after this ?
The shareholders im talking about is the people that own  cryptopia there is a list of them their shares can go to zero but I highly doubt they are running a personal risk.

I hope that this "everyone takes a 10% haircut" bullshit goes away thats not even possible for most coins on there that are pretty much illiquid dead with no real buy support so that would be a very uneven haircut

This haircut BS is being peddled by users. No one from the exchange has mentioned a haircut (yet). So it's baffling that people are asking for a haircut. Or are trolls sent to get us acquainted with the idea.

If you are not a troll, then it's plain stupid on your part to ask for a haircut. You, as users, should oppose any haircut.

Offcourse I oppose the haircut .. im not paying for someone elses incompetence.

[ankit10]

Another update on Twitter: We have transitioned 24% of all wallets to our new secure servers.  Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.
https://twitter.com/Cryptopia_NZ/status/1101275730372059136?s=17

New secure server LoL 😂

[pinoycash]

Another update on Twitter: We have transitioned 24% of all wallets to our new secure servers.  Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.
https://twitter.com/Cryptopia_NZ/status/1101275730372059136?s=17

New secure server LoL 😂

They are seeing the implication of being silent all this time and now they decided to keep everyone in the loop on what they are doing.  Im assuming top coins are being secured first then hopefully they will allow withdrawals on those 24% secured wallet

[xtraelv]

Another update on Twitter: We have transitioned 24% of all wallets to our new secure servers.  Once the read only site is online, we will be keeping users up to date on which wallets have been checked and secured via the coin info page.
https://twitter.com/Cryptopia_NZ/status/1101275730372059136?s=17

New secure server LoL 😂

They are seeing the implication of being silent all this time and now they decided to keep everyone in the loop on what they are doing.  Im assuming top coins are being secured first then hopefully they will allow withdrawals on those 24% secured wallet

They have only had access to their building and servers since the 14th of February - as indicated in their tweet. (A day before what the police announced in their news release) . Before that time they had little information. A lot of the information that was provided was drowned out by other comments.


https://www.police.govt.nz/news/release/police-continue-make-progress-cryptocurrency-investigation

A search and seizure warrant was executed on their premises and server under the Search and Surveillance Act 2012. This would have given the police wide ranging powers of investigation and as the police indicated Cryptopia technical staff fully co-operated and assisted with the forensic investigation. From a police viewpoint they would have ensured they had the maximum legal authority to conduct the investigation due to the value involved (Crimes over $1 million being a serious crime in NZ) and affecting a large number of people. This would have also given them search powers over any servers of third party providers and hosts.

Unofficial thread - announcements regarding the Cryptopia security breach. is a complete list of official announcements by the New Zealand police and Cryptopia on the situation.  It has not been silence but announcements were infrequent.

While their communication probably could have been better they really didn't have much they could talk about.  Now that they have access to their building and servers again . (I'm assuming they got access to all their servers again) they have the ability to assess, secure and re-open. Keep in mind that their administrative staff were on administrative leave and probably knew as much as members of the public.

[Winstar78]

Just a clarification:

I am not saying I want an haircut. The haircut is only better of bankrupcy, in case of cryptopia could not cover losses, in that case moving, for example, a lawsuit to try to squeeze the lacking 10% and resulting to a fund seizure (for all) for years. I am only over thinking or thinking to far future because I've seen all this already happen, not much time ago.

1) cryptopia covers losses <- best option, it HAS to cover if can

2) haircut <- NO if 1) is possible

3) lawsuit to try to obtain 100% <- stupidest option if 2) is possible.

[pinoycash]

Just a clarification:

I am not saying I want an haircut. The haircut is only better of bankrupcy, in case of cryptopia could not cover losses, in that case moving, for example, a lawsuit to try to squeeze the lacking 10% and resulting to a fund seizure (for all) for years. I am only over thinking or thinking to far future because I've seen all this already happen, not much time ago.

1) cryptopia covers losses <- best option, it HAS to cover if can

2) haircut <- NO if 1) is possible

3) lawsuit to try to obtain 100% <- stupidest option if 2) is possible.

Stop pushing the haircut solution, If you really have money on cryptopia you should push them for 100% accountability on the loss funds.

Stop giving them an idea of haircut balance of all users.

[Labrader]

1) cryptopia covers losses <- best option, it HAS to cover if can
2) haircut <- NO if 1) is possible
3) lawsuit to try to obtain 100% <- stupidest option if 2) is possible.

There's a misleading assumption here: that litigation means all assets are frozen an the company is closed. That's not true. Companies are involved in lawsuits all the time and they function just fine. So stop scaring people that they won't see anything if they do not accept a haircut solution. If they do apply a haircut and some aggravated customers decide to sue, the outcome will be decided in court, although it's pretty straight forward what the outcome would be: cover the losses.

You are not applying proper judgement to this situation. While it is true that bankrupting companies and stealing from creditors is an exit method, this method is more successful in countries with corrupt justice systems, where crooked businessmen bribe the judges to declare them not responsible. But as far as I remember New Zealand is a country that enforces rule of law and has a trustworthy justice system so suing a company does not automatically mean the company is bankrupt just because the owner wants so.

[four3200]

"Cryptopia managers are onsite" -Feb 7

[xtraelv]

"Cryptopia managers are onsite" -Feb 7

....and if you had read the rest of the links in my post you would have realized why they were onsite to assist the police. http://www.legislation.govt.nz/act/public/2012/0024/latest/DLM4355803.html

[four3200]

"Cryptopia managers are onsite" -Feb 7

....and if you had read the rest of the links in my post you would have realized why they were onsite to assist the police. http://www.legislation.govt.nz/act/public/2012/0024/latest/DLM4355803.html

It is clear that Cryptopia management had access to servers and understand of what was taken on Jan13-15, police may have arrived and sealed the area off for a day or so, but likely had executives and key techs on-sight at "the scene" the whole time.

From the police statement in Jan, reads that "Cryptopia will reopen before Feb14"; meaning not get access to the building, but open the business for business.  Such a statement would suggest Cryptopia management had been assisting on-site, working with police, but police also working with Cryptopia management on a timely/safe re-opening.

That means a working plan to reopen BY Feb14.
That means securing funds that you have before Feb14.  Which would also give you a complete account audit.

Or at least publish what is lost ON Feb14 not March4.  Since that is what you filed with the police on Jan15.  Yet a month and a half later is still not on any public record.

Cryptopia acting like you all had not a single clue as to what is what and what do we have and not have UNTIL Feb15.

Is an insult.

Read your own tweets.  Read the police tweets.  Your important "guys" were in the loop and in the building long before Feb15.

Also ... you have had scammer Twitter accounts prey on your clients.  Because you can't manage to update the website and post OFFICIAL channels.

Also ... hacked for the 3rd time?  No comment?

[xtraelv]

Also ... hacked for the 3rd time?  No comment?

If someone steals private keys and people keep depositing into the compromised address then that is not getting hacked again. Crypto balances are kept on the blockchain. Once someone has a private key all transfers happen on the blockchain not the wallet.

Claiming that it is "another hack" shows lack of understanding about how public and private keys work.

[pinoycash]

"Cryptopia managers are onsite" -Feb 7

....and if you had read the rest of the links in my post you would have realized why they were onsite to assist the police. http://www.legislation.govt.nz/act/public/2012/0024/latest/DLM4355803.html

It is clear that Cryptopia management had access to servers and understand of what was taken on Jan13-15, police may have arrived and sealed the area off for a day or so, but likely had executives and key techs on-sight at "the scene" the whole time.

From the police statement in Jan, reads that "Cryptopia will reopen before Feb14"; meaning not get access to the building, but open the business for business.  Such a statement would suggest Cryptopia management had been assisting on-site, working with police, but police also working with Cryptopia management on a timely/safe re-opening.

That means a working plan to reopen ON Feb14.
That means securing funds that you have before Feb14.

Or at least publish what is lost ON Feb14 not March4. 

Cryptopia acting like you all had not a single clue as to what is what and what do we have and not have UNTIL Feb15.

Is an insult.

Read your own tweets.  Read the police tweets.  Your important "guys" were in the loop and in the building long before Feb15.

Also ... you have had scammer Twitter accounts prey on your clients.  Because you can't manage to update the website and post OFFICIAL channels.

Also ... hacked for the 3rd time?  No comment?

Lets stop this unnecessary negativity on this thread, Crytopia already provided an update to the extent of loses from hacking incident.

Lets just wait and observe what will happen next week for their read-only opening.

[four3200]

Also ... hacked for the 3rd time?  No comment?

If someone steals private keys and people keep depositing into the compromised address then that is not getting hacked again. Crypto balances are kept on the blockchain. Once someone has a private key all transfers happen on the blockchain not the wallet.

Claiming that it is "another hack" shows lack of understanding about how public and private keys work.

No it shows Cryptopia's lack of understanding about how public communication works.

You have lot's of media reporting hacked for the 3rd time.

Why not communicate DO NOT SEND TO OLD ADDRESSES on homepage JAN 15.
Why not have a press kit for the media on homepage JAN 15.  on March 2?  Nope still nothing.

It shows Cryptopia's lack of understanding about how blockchain works.

You lost the private keys you got hacked for the 3rd time.

Else you would being monitor the addresses and sweeping any deposits that show up.

Either you and the crypto-police-NZ are not doing due diligence.  Monitoring the compromised addie/keys.

Or you don't have a copy.  

There's lot's of blocksplaning needed here.  You've had 6 weeks to get the story ready.

Still waiting.

[almightyruler]

Despite all of this recent promising activity, https://www.cryptopia.co.nz/ has STILL not been updated, showing the same message it did more than a month ago.

[four3200]

@pinoy$$$
PR management consultant for ICO-crypto-trash much?

Re: HYIP 102 - Typical scammers playbook

Steps from the typical scammers playbook

Step 1) Build Relationships of Trust,Gain the trust of the people, the bigger the audience the more backers you'll have. The more backers you have, the more people will trust you....rinse and repeat until you are a "trusted person" or in this case a "trusted admin".

Step 2) Divert and blame, Create a third party diversion. e.g. We can't operate in the US anymore. e.g. our servers went down and we are having issues. Our processor has frozen our account, and there is nothing we can do. The government where we are is restricting our business.. Make sure the blame is on the third party so the trust is not broken that was gained in Step 1. Its all their (the 3rd party's) fault and we are helpless to do anything. Pick a believable target to blame such as a government, payment processor, technology etc..and transfer all blame to the diversion.

Step 3) Reinvent, Announce that the only way the program can continue is if we start a new company, a new program or restrict operations in certain countries (e.g. we can no longer accept US citizens). We can only operate in a certain country now. This allows the person to take the most of the funds away and reset the books so to speak. Typically this is where the admin or trusted individual says we are starting over better and stronger than ever before so we don't have the same mistakes that happened in Step 2(Divert and Blame).

Step 4) The BIG Take, Because everyone really trusts you as the "trusted person" or "trusted admin" they are able to take a large number of people into a new program. Since the first program was paying on time and so well, they think I am not missing out and I will dump in more money this time. Everyone is super excited and hyped that a new launch is occurring that is supposed to solve all the problems. Everyone is super excited because they missed getting in early last time, so this time they want to go ALL In. Large deposits are then made typically into the new program which the scammer wants and has planned for in "The Big Take"...This is where scammers make the most money. They are willing to go through all the steps 1-3 just to get to this "Big Take" step. It's the big haul. Its where people can really get burned badly. This is where you hear stories where people dumped their life savings or retirement money in and got badly burned.

Step 5) The Disappearing Act, you are all too familiar with what this one is..self explanatory.

Where is Cryptopia on step 3 or step 5?

Step 2 transfer all blame to CUSTOMERS, send hacks to Say "Just wait" "you'll love the new haircut"
[Done well Done]

https://www.reddit.com/r/Bitcoin/comments/awj30o/cryptopia_crypto_exchange_lost_94_of_its_holdings/

[xtraelv]

You have lot's of media reporting hacked for the 3rd time.

The media has reported a lot of things. Most of it inaccurate.

As Satoshi once said "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

Why not communicate DO NOT SEND TO OLD ADDRESSES on homepage JAN 15.

Generally the priority with a cybercrime is to preserve the evidence and disconnect from the internet.

When there is an announcement that there has been a security breach / hack people need to be told not to send more crypto because they cannot think of that themselves ?

Are you for real ?

https://web.archive.org/web/20181218153900/https://www.cryptopia.co.nz/Home/RiskStatement
https://web.archive.org/web/20181218153858/https://cryptopia.co.nz/Home/Terms

[pinoycash]

@pinoy$$$
PR management consultant for ICO-crypto-trash much?
[Done well Done]

Check my previous post in this thread, All i want is for them to comeback so i can get my money out of their system.

Do you have any cryptocurrency lock up in your cryptopia account? If none then i don't see your point of being here.