Cryptopia Cryptocurrency Platform Services and Development

[Timelord2067]

Did you see this?

https://twitter.com/eca_foundation?lang=uk

Sure did - a whole five days ago:

Website: https://coinhooked.com/chaincreator-offers-to-buy-cryptopia-with-the-aim-to-refund-cryptopias-trading-community
Title: CHAINCREATOR Offers to buy CRYPTOPIA with the AIM to refund CRYPTOPIA’S trading Community.
Byline and Date:  Coinhooked 31st May 2019
Archive link: https://web.archive.org/web/20190601231315/https://coinhooked.com/chaincreator-offers-to-buy-cryptopia-with-the-aim-to-refund-cryptopias-trading-community

Via TheCryproMaster in this post

Feel free to join us with any online articles about Cryptopia.

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[xtraelv]

Just how do they plan to try step 1 (attempt to reorganise the company to make it profitable)?
They haven't even paid for their server, just how much are they on the red?

They might have gone through the same miscalculation as Nvidia, expanding too much too late in the last bullrun and when the prices dropped, their income was reduced so much that they could not pay for their expanded workforce and servers.
That's what I think.

A liquidator is able to re-organize a company in such a way that it can legally trade again. (If it is insolvent it cannot trade).

The letter was commissioned by the DAPS community so it is just a general outline of what it likely to happen.

I doubt that option 1 is viable. But you never know.

[somebody else]

What is liquidator?

By this link: http://www.businessdictionary.com/definition/liquidator.html

Person appointed by the shareholders or unsecured creditors, or on a court order, to manage the winding up of a firm by selling off its assets. Most countries require a suitably qualified liquidator. On appointment, the liquidator assumes control of the business, collects and auctions off its free (un-pledged) assets in a reasonably short time, pays the unsecured creditors from the proceeds of the sale, and (if any money is left) distributes it among the shareholders in proportion to their shareholdings. In the UK, also called an insolvency practitioner.

Where are  OUR ASSETS (coins) in this definition?

We should have the highest priority in front of any exchange's shareholders!

Do you understand why exchange's biggest owners/shareholders have chosen liquidators?


I wish I am wrong in my understandings.

[somebody else]

By Investopedia: https://www.investopedia.com/terms/l/liquidator.asp

DEFINITION of Liquidator

In the most general sense, a liquidator is a person or entity that liquidates something. More specifically, a liquidator refers to an officer that is specially appointed to wind up the affairs of a company when the company is closing. Assets of a company are sold by the liquidator and the resulting funds are used to pay off the company's debts. The liquidator is legally empowered to act on behalf of the company in various capacities.

BREAKING DOWN Liquidator

A liquidator is a person legally empowered to act on behalf of a company to sell the company's assets prior to the company's closure in order to generate cash to pay off debts. Liquidators are often used when a company goes bankrupt. One of the chief functions of many liquidators is to bring and defend lawsuits. Other actions include collecting outstanding receivables, paying off debts and finishing other corporate termination procedures.

[ethersalvation]

They will give back maximum 30% of the coins. Unfortunately this is how this generally works.

[TheCryproMaster]

They will give back maximum 30% of the coins. Unfortunately this is how this generally works.

Pure FUD.

What are you basing your FUD post on?

[thehun]

Well, the fact that the customer funds are NOT considered company assets to liquidate brings a bit of hope, but to be honest I'm expecting the worst outcome: funds long sold, hacked, keys lost forever... I've already written it off, if in a few years I get something back I'll just donate it all to a good cause

[Neloc75]

I demand my 0.003 btc back so I can buy 2 pizzas and a soda. Get off your booty and return those customer funds cryptopia.

[Timelord2067]

Is anyone here planning to plant a Red Flag in TripleHeXXX's UID and associated Cryptopia thread - I'm surprised neither Lafu or xtraelv have started one given they have said "they have more to loose than most" over Cryptopia being placed into receivership?

[almightyruler]

Is anyone here planning to plant a Red Flag in TripleHeXXX's UID and associated Cryptopia thread - I'm surprised neither Lafu or xtraelv have started one given they have said "they have more to loose than most" over Cryptopia being placed into receivership?

What's a red flag? Do you mean the BCT trust system, or something else?

[Timelord2067]

Is anyone here planning to plant a Red Flag in TripleHeXXX's UID and associated Cryptopia thread - I'm surprised neither Lafu or xtraelv have started one given they have said "they have more to loose than most" over Cryptopia being placed into receivership?

What's a red flag? Do you mean the BCT trust system, or something else?

Oh brother - where have you been for the last 24 hours?  

https://bitcointalk.org/index.php?topic=5153344.0 Trust flags
https://bitcointalk.org/index.php?topic=5153445.0 Request support for Flags here!
https://bitcointalk.org/index.php?topic=5153695.0 LoyceV's Trust Flag viewer

There's well over one hundred that have been created so far.

[RivAngE]

Is anyone here planning to plant a Red Flag in TripleHeXXX's UID and associated Cryptopia thread - I'm surprised neither Lafu or xtraelv have started one given they have said "they have more to loose than most" over Cryptopia being placed into receivership?

What's a red flag? Do you mean the BCT trust system, or something else?

It's something more, it's probably a new system.
Look how it looks on this user: https://bitcointalk.org/index.php?action=profile;u=229601
And there's a red warning in their thread: https://bitcointalk.org/index.php?topic=436467.0

But TripleHeXXX's profile reads "Last Active: January 18, 2018, 02:25:17 AM", and the company is gone, so I don't suppose it matters.
Nonetheless it'd be good to flag them since it's an old account with Full Member rank that could potentially return in the future and look like it's someone trustworthy.

[erikalui]

Well, the fact that the customer funds are NOT considered company assets to liquidate brings a bit of hope, but to be honest I'm expecting the worst outcome: funds long sold, hacked, keys lost forever... I've already written it off, if in a few years I get something back I'll just donate it all to a good cause

Cryptopia has not only not spoken about the hacked funds and haven't allowed users to withdraw the funds that were not hacked too like altcoins so they can't claim that they got hacked too. They clearly stated what funds were lost and the amounts were in BTC and ETH mainly.

[Lafu]

@Timelord2067

Why should we  ? 

Its in Liquidation right now and you know the things of a Liquidation as far crypto isnt seen in NZ as a currency ( But you know this ).
The Liquidation isnt over and nothing new from them so there is no Reason for an Flag because its still open whats happen.


You can do this when the Liquidation is over and funds hasnt paid back , what i hope that will be not happens !

[Timelord2067]

@Timelord2067

Why should we  ? 

Its in Liquidation right now and you know the things of a Liquidation as far crypto isnt seen in NZ as a currency ( But you know this ).
The Liquidation isnt over and nothing new from them so there is no Reason for an Flag because its still open whats happen.

You can do this when the Liquidation is over and funds hasnt paid back , what i hope that will be not happens !

I was simply wondering what your thoughts were on the matter and was hoping to engage you in conversation here so that others to get a feel for the merits or follys of taking such action.

I feel any action should only occur if charges were brought against any employee's of Cryptopia.

I'm glad we agree on at least one thing.

[arielbit]

a liquidation is happening to a LLC (limited liability company)

LIMITED LIABILITY = means cryptopia owners personal assets are out of the issue and safe.

when cryptos in their hands are worth more than the company these owners/crooks can "trim the fat" and declare bankruptcy..a legal way to steal your money.

where will the liquidators will get the money? the bills that wasn't paid by the owners? as if it will magically appear out of nowhere...-->look might as well sell some of these cryptos and pay ourselves.

they accumulated those bills and debts to save their $$ because they will run  it to the ground

ever wondered that these cryptopia defenders here that claimed that are unofficial/volunteers and never been in the cryptopia's site are here still defending? hehe

since everything is already planned..these pricktopians will tell us,->hey just stick to the liquidation/process, it is legal...but they already know the outcome.


just a caution, nicehash might pull off the same stuff....family involve just like cryptopia...putting family in critical spots--you know trust issues hehe

https://www.reddit.com/r/NiceHash/comments/8plitx/what_is_hbit_doo_this_appears_next_to_the_green/

H-Bit is the investor brought on after the Nicehash hack. It is owned by Martin Škorjanc, the father of Matjaž Škorjanc who is the CTO of Nicehash.

[DADIBLAND]

Filtering... a legal way to steal your money.

[four3200]

ever wondered that these cryptopia defenders here that claimed that are unofficial/volunteers and never been in the cryptopia's site are here still defending? hehe

and over at the Tradetoshitty tread

Running Defense for 2 fraudulent exchanges for free at the same time?
"Voluntary" Public Comm Officer    

I have used trade satoshi twice and spoke with one of their mods once.

I don't use them myself so why would I recommend them to others ? I don't recommend them.

What I have said is something I have said on many exchange threads.

Read the terms. Be familiar with the terms.

Registering under a false name is contract fraud. Do you think it is OK to register under a false name ? If so - please say so.

At the moment I'd be reluctant to have funds on any exchange. In this bear market, with numerous 51% attacks, data breaches and wallets hacked -  exchanges are high risk.

Shitcoin alt exchanges are even more high risk than mainstream ones.

"trade satoshi twice"
Yet actively volunteers a great deal of time to constantly defend THIEVES.

[Neloc75]

ded exchange

[TheCryproMaster]

WARNING WARNING Cryptopia user you're in grave danger!!!!

Oh the pain, the pain of it all. Where will my funds end up.