Cryptopia Cryptocurrency Platform Services and Development

[xtraelv]

Cryptopia Liquidator files for relief in NY court (so USA creditors recognise the liquidation)

https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/11---order-granting-emergency-motion-for-provisional-relief.pdf



img]https://i.imgur.com/vQwdVaO.png[/img]

[1713577829]

1713577829

[1713577829]

1713577829

[Finger]

[sluppy]

This is hilarious, dumbasses blackmailing a bankrupt company the stupidity of some idiots.

https://twitter.com/CryptoJ0ules/status/1132762617620172801?s=19

I'd be more worried about this wording:

"...but the information they need is hosted on servers run by an Arizona company..."

and

"The liquidators are concerned that if they don't pay the Arizona company, Cryptopia's data could be overwritten or lost."

This implies that Cryptopia don't have a local (or otherwise external) backup of their own data.

if ever there is a bill to be paid that just accumulated for years/months, the exit scam was planned for a long time. because paying bills will be covered by cryptopia users and they rather keep the money.

Just some random Twitter account throwing in the name Bloomberg without source or links  so basicly nothing.

Edit:

Actually found it on the Bloomberg site .. well I guess cryptopia was their only customer because none will ever do business with them again.

[Finger]

[DADIBLAND]

'determining how to make distributions to account holders will take some months at least'
🙄
Allow users to access their own wallets. Extremely simple. Everybody knows you are ignoring this because you are trying to facilitate your client's exit scam with customers' funds.

[Bigger By The Day]

give me my pakcoin back 

you hold all pakcoin

[Finger]

from mid 2018 netcoin 51% attack maintenance shit and others numerous crypto projects rip, cryptsy style profits for exchange centralization. In general thinking, how liquidators will deal about dead blockchains?

[xtraelv]

from mid 2018 netcoin 51% attack maintenance shit and others numerous crypto projects rip, cryptsy style profits for exchange centralization. In general thinking, how liquidators will deal about dead blockchains?

Dead blockchains are not an issue for the liquidator.. Coin networks are run by the coin communities and their developers. If a coin is dead the coin users or the community need to revive the blockchain prior to the distributio n by the liquidators to receive their coins otherwise they will be lost forever.


 I believe the liquidator will seek legal clarification to distribute the crypto.
This is to prevent a legal challenge later by other creditors claiming it was done wrong.

The only fair way that I can see is if the users get their actual coins back which according to the Terms and Conditions are held in trust.

[TheCryproMaster]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

[sisquo2121]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

They never made KYC mandatory you stupid idiot. If they want KYC I'll give it to them now. They can email customers and ask for KYC.

There is zero chance they will be allowed to keep coins because a customer didn't fill out kyc; that is pure theft and they will not only be sued if they try to pull that scam they will face lengthy prison terms.

Why don't you get out of these forums and go hang out with your scamming criminal friends from Cryptopia you human vile scum.

It is quite obvious these scammers are trying to pull of an exit scam. They lost 5% of the coins which is a very small fraction of the coins on the exchange. That should never have been enough to shut down the exchange. They were looking for a way to shut down and steal all the coins.

The hack was an inside job to give them an excuse to shut down and try and come up with any way they can to steal all the coins, which are worth 300 million usd.

They stalled to make us believe  they would be opening back up again to give themselves time to try and pull off their exit scam.

[BTCbtcLOVE]

GIVE PEOPLE ONLY TO SAVE THE SITE TO BE WORKED AND TRADERS, THAT WE CAN MAKE INVESTED MONEY TO HANDLE AND WORK, GIVE UP BUT THIS IS BEFORE THE MOST, THERE ARE MANY PEOPLE HERE FROM 14 JANUARY MANY ON A LOSS !!! ONLY CALL THAT YOU WILL AND PASS THE SITE TO BE TRADED !!!

[almightyruler]

from mid 2018 netcoin 51% attack maintenance shit and others numerous crypto projects rip, cryptsy style profits for exchange centralization. In general thinking, how liquidators will deal about dead blockchains?

Dead blockchains are not an issue for the liquidator.. Coin networks are run by the coin communities and their developers. If a coin is dead the coin users or the community need to revive the blockchain prior to the distributio n by the liquidators to receive their coins otherwise they will be lost forever.

Technically, the blockchain doesn't need to be moving at the time of funds distribution, so long as Cryptopia's liquidator posts a copy of the raw transactions (or someone captures them) so they can be re-broadcast in the future. Valid raw transactions can be broadcast by any peer; the original sending client does not need to remain online.

[erikalui]

I am sure they'll ask every account holder for personal information now and make it even more difficult to claim so that they can say that they tried to make it fair but not give anyone their rightfully owned tokens back. Bankruptcy excuse is a joke.

[TheCryproMaster]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

They never made KYC mandatory you stupid idiot. If they want KYC I'll give it to them now. They can email customers and ask for KYC.

There is zero chance they will be allowed to keep coins because a customer didn't fill out kyc; that is pure theft and they will not only be sued if they try to pull that scam they will face lengthy prison terms.

Why don't you get out of these forums and go hang out with your scamming criminal friends from Cryptopia you human vile scum.

It is quite obvious these scammers are trying to pull of an exit scam. They lost 5% of the coins which is a very small fraction of the coins on the exchange. That should never have been enough to shut down the exchange. They were looking for a way to shut down and steal all the coins.

The hack was an inside job to give them an excuse to shut down and try and come up with any way they can to steal all the coins, which are worth 300 million usd.

They stalled to make us believe  they would be opening back up again to give themselves time to try and pull off their exit scam.

Who pissed in your cornflakes you ranting fuckwit. Why should the liquidators have to waste resources chasing your ass up to give your 10 mydickis2small coin back?

[Timelord2067]

Liquidators for Cryptopia lodge first liquidators' report and insolvency documents with the Companies Register New Zealand. https://bitcointalk.org/index.php?topic=5097916.msg51288003#msg51288003 Creditor's Claim Form is contained in this document.

[sisquo2121]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

They never made KYC mandatory you stupid idiot. If they want KYC I'll give it to them now. They can email customers and ask for KYC.

There is zero chance they will be allowed to keep coins because a customer didn't fill out kyc; that is pure theft and they will not only be sued if they try to pull that scam they will face lengthy prison terms.

Why don't you get out of these forums and go hang out with your scamming criminal friends from Cryptopia you human vile scum.

It is quite obvious these scammers are trying to pull of an exit scam. They lost 5% of the coins which is a very small fraction of the coins on the exchange. That should never have been enough to shut down the exchange. They were looking for a way to shut down and steal all the coins.

The hack was an inside job to give them an excuse to shut down and try and come up with any way they can to steal all the coins, which are worth 300 million usd.

They stalled to make us believe  they would be opening back up again to give themselves time to try and pull off their exit scam.

Who pissed in your cornflakes you ranting fuckwit. Why should the liquidators have to waste resources chasing your ass up to give your 10 mydickis2small coin back?

Nobody has to be chased down you low iq monkey. They have everyones email, usernames and passwords. All they have to do is secure the coins and let people log in to withdraw their coins you imbecile.

Now go finish sucking your mamas saggy titties you little punk.  What the fuck are even talking about wasting resource you piece of shit.

 I have 2000 usd worth of coins in that exchange and I will get the coins back.  Your opinion is meaningless . I'd knock you the fuck out if I saw you punk.

All us customers want is our coins back. Simple as that. Now don't come back here and keep spreading lies and utter imbecilic nonsense. Go play video games in your parents basement .

[xtraelv]

Liquidators for Cryptopia lodge first liquidators' report and insolvency documents with the Companies Register New Zealand. https://bitcointalk.org/index.php?topic=5097916.msg51288003#msg51288003 Creditor's Claim Form is contained in this document.

This is not the Cryptopia Liquidation report. This report refers to Cryptopia NZDT Ltd (7179273) NOT Cryptopia Ltd (5392901)

The report states:

Cryptopia NZDT Limited sole purpose was to produce a cryptocurrency that was tethered to the
New Zealand dollar. This was to allow better access for New Zealand customers who could use New Zealand
dollars to purchase Cryptocurrency. This company never traded its cryptocurrency publicly and as such never
traded.

Unfortunately it means that the NZDT traded on Cryptopia is part of the Cryptopia Ltd debts or funds owning.
 
I hope Cryptopia held the NZ$ exchanged for NZDT in a seperate trust account.



.

EDIT:

The Cryptopia LTD liquidators report is available here: https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/first-liquidators-report-31-05-2019.pdf

According to the liquidators report they classify the Creditors and Customers holdings seperately:






The liquidator should give some guidance as to whether a crypto customer is considered a stakeholder / customer or creditor.
This is something they should address with some urgency.
It is not clear whether customers need to file a creditor form. It is likely that this is still to be determined by the court.
At this stage no deadline has been set for claims.



If you hold BTC or NZDT on Cryptopia the following court order could potentially impact on your claim:



It appears that the order refers to Bitcoin owned by the company (from trading fees) rather than held on behold of customers. But there is the possibility that it has been intermingled with customer held crypto or incorrectly identified as company funds. I do not know whether NZDT raised funds are held separately from other bank balances.



This sentence in the court order does look promising. It means that the court believes that it is likely that the customer funds and company funds should be treated separately.

[TheCryproMaster]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

They never made KYC mandatory you stupid idiot. If they want KYC I'll give it to them now. They can email customers and ask for KYC.

There is zero chance they will be allowed to keep coins because a customer didn't fill out kyc; that is pure theft and they will not only be sued if they try to pull that scam they will face lengthy prison terms.

Why don't you get out of these forums and go hang out with your scamming criminal friends from Cryptopia you human vile scum.

It is quite obvious these scammers are trying to pull of an exit scam. They lost 5% of the coins which is a very small fraction of the coins on the exchange. That should never have been enough to shut down the exchange. They were looking for a way to shut down and steal all the coins.

The hack was an inside job to give them an excuse to shut down and try and come up with any way they can to steal all the coins, which are worth 300 million usd.

They stalled to make us believe  they would be opening back up again to give themselves time to try and pull off their exit scam.

Who pissed in your cornflakes you ranting fuckwit. Why should the liquidators have to waste resources chasing your ass up to give your 10 mydickis2small coin back?

Nobody has to be chased down you low iq monkey. They have everyones email, usernames and passwords. All they have to do is secure the coins and let people log in to withdraw their coins you imbecile.

Now go finish sucking your mamas saggy titties you little punk.  What the fuck are even talking about wasting resource you piece of shit.

 I have 2000 usd worth of coins in that exchange and I will get the coins back.  Your opinion is meaningless . I'd knock you the fuck out if I saw you punk.

All us customers want is our coins back. Simple as that. Now don't come back here and keep spreading lies and utter imbecilic nonsense. Go play video games in your parents basement .

2k on an exchange that was hacked LMFAO you poor sap of a dumb fuck. Now who's spreading the lies? Or really are you that dumb of a fuck that had 2k of funds on a hacked exchange? Good luck with life its going to be a hard one and my sincerest apologies for arguing with you, its clear you're intellectually challenged with clinical retardation. I'd hug you the fuck out if I saw you punk, and give you a lollipop.

Back on topic, with Huobi freezing the stolen ETH is there a chance the liquidators can get this back? That's a massive chunk of funds to receive and kudos to Huobi for taking action and freezing the coins as soon as they were notified.

[Timelord2067]

Full post archived for future reference:

Unfortunately it means that the NZDT traded on Cryptopia is part of the Cryptopia Ltd debts or funds owning.

So it is relevant then?  You do, by your own words admit that?

[sisquo2121]

So whats the story with only paying back the coins to kyc clients? Why not, you not bother with full requirements why should the liquidators waste time trying to track their sorry asses down.

They never made KYC mandatory you stupid idiot. If they want KYC I'll give it to them now. They can email customers and ask for KYC.

There is zero chance they will be allowed to keep coins because a customer didn't fill out kyc; that is pure theft and they will not only be sued if they try to pull that scam they will face lengthy prison terms.

Why don't you get out of these forums and go hang out with your scamming criminal friends from Cryptopia you human vile scum.

It is quite obvious these scammers are trying to pull of an exit scam. They lost 5% of the coins which is a very small fraction of the coins on the exchange. That should never have been enough to shut down the exchange. They were looking for a way to shut down and steal all the coins.

The hack was an inside job to give them an excuse to shut down and try and come up with any way they can to steal all the coins, which are worth 300 million usd.

They stalled to make us believe  they would be opening back up again to give themselves time to try and pull off their exit scam.

Who pissed in your cornflakes you ranting fuckwit. Why should the liquidators have to waste resources chasing your ass up to give your 10 mydickis2small coin back?

Nobody has to be chased down you low iq monkey. They have everyones email, usernames and passwords. All they have to do is secure the coins and let people log in to withdraw their coins you imbecile.

Now go finish sucking your mamas saggy titties you little punk.  What the fuck are even talking about wasting resource you piece of shit.

 I have 2000 usd worth of coins in that exchange and I will get the coins back.  Your opinion is meaningless . I'd knock you the fuck out if I saw you punk.

All us customers want is our coins back. Simple as that. Now don't come back here and keep spreading lies and utter imbecilic nonsense. Go play video games in your parents basement .

2k on an exchange that was hacked LMFAO you poor sap of a dumb fuck. Now who's spreading the lies? Or really are you that dumb of a fuck that had 2k of funds on a hacked exchange? Good luck with life its going to be a hard one and my sincerest apologies for arguing with you, its clear you're intellectually challenged with clinical retardation. I'd hug you the fuck out if I saw you punk, and give you a lollipop.

Back on topic, with Huobi freezing the stolen ETH is there a chance the liquidators can get this back? That's a massive chunk of funds to receive and kudos to Huobi for taking action and freezing the coins as soon as they were notified.

When I had the coins in the exchange it wasn't hacked you mentally deficient monkey. It was working normally.  They were hacked without warning and shut down the exchange. They never opened the coins I had on the site  for trading or for withdrawal you mental midget.

You stupid fucker. I'll curb stomp you you POS. Go play in your parents basement little kid. Let the professionals handle the liquidation