Cryptopia Cryptocurrency Platform Services and Development

[TheCryproMaster]

On top of that these lowlifes at Grant Thornton are treating the customers coins are they're own personal slush fund that they can dip into and pay they're own fees as well as creditor fees.

This is why we need lawyers representing us in the New Zealand courts so these lowlifes at Grant Thornton don't give us back a fraction of what were owed.

Personal slush fund, wtf, what evidence do you have this is happening?

They've stated they're using some of the funds to pays creditors you dumb fuck. Stop even commenting on anything I say you fucking idiot.

I at least have evidence for my claims where as you have zero evidence for anything you say. Like your  zero evidence  claim that this will take years to finish. We all know you work for Cryptopia so get the fuck off this bitcointalk and go fucking jump off a bridge you piece of shit.

Haha so there you have it douchbag here is sitting on the edge of his toilet seat rubbing one out waiting angrily for the return of a tanking shitcoin in the hope it will be done soon. Wake The Fuck Up numbnuts, this is going on for years. YEARS. Your shitcoin will be lower than your sub moron IQ by then.
So chill dude, lose your virginity to a moose, get your penis enlargement surgery, take up anger management classes and live your miserably canuck bisexual cross dressing moose buggering life as best you can.

[JollyGood]

[quote author=Viper1 link=topic=1669443.msg52954196#msg52954196 date=1572662014As far as I know they were hacked and it's being investigated. Beyond that, unless law enforcement finds they did it (the systems would also have to be analyzed to determine if any fraud took place), then I don't see what they would have done to warrant criminal action. Beyond that maybe people could go after them for something like negligence.
[/quote]


Was it thoroughly investigated if they were hacked because of negligence or because of an inside job or is that process still on-going with the Police side-by-side while Grant Thornton do their investigation?

[Viper1]

As far as I know they were hacked and it's being investigated. Beyond that, unless law enforcement finds they did it (the systems would also have to be analyzed to determine if any fraud took place), then I don't see what they would have done to warrant criminal action. Beyond that maybe people could go after them for something like negligence.

Was it thoroughly investigated if they were hacked because of negligence or because of an inside job or is that process still on-going with the Police side-by-side while Grant Thornton do their investigation?

Last I heard it was still be investigated but I don't keep up on it too much. I will say that for anyone performing the investigation (assuming they go to this level), it takes a long time to learn some system, go through all the code, analyze all the data of transactions going back and forth and on and on. So unless there's something blatantly obvious, it can take a long time to find proof of "theft" or fraud of some sort.

[TheCryproMaster]

Got an email from noreply@cryptopia linking to the 25th October update from GT.

Fucking slow bastards.

[JollyGood]

Last I heard it was still be investigated but I don't keep up on it too much. I will say that for anyone performing the investigation (assuming they go to this level), it takes a long time to learn some system, go through all the code, analyze all the data of transactions going back and forth and on and on. So unless there's something blatantly obvious, it can take a long time to find proof of "theft" or fraud of some sort.

Well somebody or some people will get phenomenally wealthy thanks to the theft but what is the general consensus of the victims about it being an inside job?

[Viper1]

Last I heard it was still be investigated but I don't keep up on it too much. I will say that for anyone performing the investigation (assuming they go to this level), it takes a long time to learn some system, go through all the code, analyze all the data of transactions going back and forth and on and on. So unless there's something blatantly obvious, it can take a long time to find proof of "theft" or fraud of some sort.

Well somebody or some people will get phenomenally wealthy thanks to the theft but what is the general consensus of the victims about it being an inside job?

In other instances of actual theft, the perpetrator ran. I haven't heard of these guys running. But who knows. Maybe they're stupid and think no one will be able to figure out how they did it, if they did it. I think it's more likely the system had flaws and someone found a way in. So many of these places were coded etc by "amateurs".

[sisquo2121]

On top of that these lowlifes at Grant Thornton are treating the customers coins are they're own personal slush fund that they can dip into and pay they're own fees as well as creditor fees.

This is why we need lawyers representing us in the New Zealand courts so these lowlifes at Grant Thornton don't give us back a fraction of what were owed.

Personal slush fund, wtf, what evidence do you have this is happening?

They've stated they're using some of the funds to pays creditors you dumb fuck. Stop even commenting on anything I say you fucking idiot.

I at least have evidence for my claims where as you have zero evidence for anything you say. Like your  zero evidence  claim that this will take years to finish. We all know you work for Cryptopia so get the fuck off this bitcointalk and go fucking jump off a bridge you piece of shit.

Haha so there you have it douchbag here is sitting on the edge of his toilet seat rubbing one out waiting angrily for the return of a tanking shitcoin in the hope it will be done soon. Wake The Fuck Up numbnuts, this is going on for years. YEARS. Your shitcoin will be lower than your sub moron IQ by then.
So chill dude, lose your virginity to a moose, get your penis enlargement surgery, take up anger management classes and live your miserably canuck bisexual cross dressing moose buggering life as best you can.

 You fucking slimy lowlife shemale tranny goat fucking scum. I'm 100% straight unlike you whose a filthy shemale.  You're a disgusting tranny low life maggot who keeps wanting my attention.

You have zero proof it will takes years. They have 95% of the coins you dumb mother fucker.  This should be done in one week. Its been dragged out for almost a year.

There is proof of them purposely stalling and using our coins to pay themselves and creditors which is competently illegal. You fucking slime of the earth.

[TheCryproMaster]

'There is proof of them purposely stalling and using our coins to pay themselves and creditors which is competently illegal.'

I will tattoo your sisters face on my ass fly over to canucksville and let you butt ream me no lube if you can produce the tiniest snippet of 'proof' you have this is being done.

What you got bigshot?

[guigui371]

I have called the liquidator, they gave me the email of Russel Moore (he is a national managing partner)

I sent him this :

Hi Russell,

I would like to know if you have emailed the KYC procedure to Cryptopia clients ?

I have not received any email regarding my holdings (unaffected by the hack).

Also, would you be able to let me know if the balance of user unaffected by the hack will be restored in full or not ?


Best regards

I'll update you guys if i get an answer.

If you want to email the guy : 'russell.moore@nz.gt.com'  (public information from the GT website)

I believe i found his mobile phone number once, but i can't find it again.

[dragonvslinux]

Email received today for anyone else not in the know, or "for whom it may concern":

Subject: Cryptopia Limited (in Liquidation) update 25 October 2019

Dear Cryptopia Stakeholder,

You are being emailed as part of the Liquidation of Cryptopia Limited.

The liquidators have applied to the High Court of New Zealand for directions regarding the legal status of customer holdings and the ability to hold Cryptocurrency on trust. The Liquidators have asked the Court to appoint two Queen’s Counsel for these proceedings.

The Court has approved the Queen’s Counsel appointment and service of this order must be effected by the liquidators sending an email with a link to these proceedings for all potential trust beneficiaries and creditors that Cryptopia held email addresses for.

The Court orders and an update from the liquidators can be found at the link below:

https://www.grantthornton.co.nz/update-for-cryptopia-account-holders-25-october-2019/

Please do not reply to this email. This mailbox is not monitored and you will not receive a response.

Since our last update we have made further progress towards securing and preserving Cryptopia crypto-asset holdings for the benefit of those entitled to them. Below is an outline of the progress we have made since our last update on 20 August 2019.

Legal directions

We applied to the High Court of New Zealand for directions and to ask the Court to appoint two Queen’s Counsel.

We are seeking directions regarding the legal status of customers’ holdings and the ability to hold Cryptocurrency on trust.

The Court has approved the Queen’s Counsel appointment. See the link below:

1. Court Orders as to Representation and Service [ 811 kb ]

This should be read in conjunction with the following documents;

2. Notice to Creditors Re Application [ 119 kb ]

3. Originating application with hearing date [ 884 kb ]

4. Affidavit of David Ian Ruscoe [ 4414 kb ]

5. Interlocutory application [ 1811 kb ]

6. Memorandum of counsel [ 740 kb ]

Reconciliation process

Our previous update mentioned the process to determine customer holdings.

We appreciate that customers wonder why it is taking so long for us to determine customer holdings. There are two main reasons for the time and complexity of the process:

Customers did not have individual wallets and it is impossible to determine individual ownership using just the keys in the wallets. While Cryptopia held details of customer holdings and reported these on the Exchange, the crypto-assets themselves were pooled (co-mingled) in coin wallets. As a centralised exchange, customers' trades would occur in the exchange's internal ledger without confirmation on the blockchain.
No detailed reconciliation process between the customer databases and the crypto-assets held in the wallets has ever been completed.
This process is well underway and will still take some time to complete. We are working to reconcile the accounts of over 900,000 customers, many holding multiple crypto-assets, millions of transactions and over 400 different crypto-assets.

We have split the reconciliation process into three main phases:

Securing assets and company data – We have recovered assets from Phoenix and have secured company data.
Wallet environment and customer reconciliation – Due to the January 2019 security compromise it was necessary to rebuild the full wallet environment. This was done to ensure no leftover malicious code from the January hack would corrupt the new environment. This recompiling is not a straightforward process, as over 900 different assets were supported by Cryptopia at one time or another.
Identifying users and repatriation of returns - This phase is at an early stage. A number of legal matters need to be resolved before this phase can progress.

Hacked assets

We continue to work with the New Zealand Police and international authorities as they work to determine the source of the January 2019 hack.

We are not investigating the root cause of the hack. Our obligation is to seek recoveries for stakeholders’ benefit. .We have therefore undertaken work scoping potential actions to trace and or freeze stolen crypto-assets. This is a complex situation with cooperation needed from third parties.

Sale of surplus plant and equipment

We have sold by auction excess desks, computer equipment, furniture and other items that are not required for the continued operations. This is a standard liquidation procedure.

Coin developers meetings

Over the past month we have held a number of webinars with affected coin developers, in order to better engage with the developer community, provide an overview of the liquidation process and allow the developers to raise any issues or concerns they have. So far we have received positive feedback on these sessions and we plan to hold further webinars.

What happens next

While our reconciliation process is progressing well, we still require direction from the New Zealand courts before we can return crypto-assets to customers. The information outlining the legal process included in the last communication is still current and is set out below.

We continue to liaise with our legal advisors about the legal status of crypto-assets, the legal relationship between Cryptopia and its customers, and to determine how crypto-assets could be returned to customers.

We have certain legal requirements and obligations in New Zealand and internationally that liquidators must meet, such as Anti Money Laundering/Know Your Client (AML/KYC) requirements when considering any repayment or return of assets.

The KYC process cannot be avoided, as it is a legal requirement in New Zealand. Before returning crypto-assets we will correspond with customers about how this process will be completed. Please note, customers who have previously completed the KYC process with Cryptopia will still need to go through the process set by us.

Anyone who did not complete KYC while the exchange was open will also be given the opportunity to confirm their identity.

Where to go for updates

We appreciate that you want to be advised of our progress on the Cryptopia liquidation. We will continue to update you as further information comes to hand. Updates can be found on the Grant Thornton New Zealand and Cryptopia websites and their respective social media channels.

The next statutory report is due in early December and we will provide a formal update on the liquidation progress via this report.  

[JanpriX]

Email received today for anyone else not in the know, or "for whom it may concern":
-snip-

-snip-
The KYC process cannot be avoided, as it is a legal requirement in New Zealand. Before returning crypto-assets we will correspond with customers about how this process will be completed. Please note, customers who have previously completed the KYC process with Cryptopia will still need to go through the process set by us.

So this will be a very long process and they will still need to have KYC procedure for those customers who got affected of the hack because of Cryptopia's incompetence. This is kinda frustrating and while I still have coins in their possession, I might just give it up because I don't want to go under the stress of adhering in their "process". Also, those coins are worth nothing now so meh. 

[JollyGood]

Email received today for anyone else not in the know, or "for whom it may concern":
-snip-

-snip-
The KYC process cannot be avoided, as it is a legal requirement in New Zealand. Before returning crypto-assets we will correspond with customers about how this process will be completed. Please note, customers who have previously completed the KYC process with Cryptopia will still need to go through the process set by us.

So this will be a very long process and they will still need to have KYC procedure for those customers who got affected of the hack because of Cryptopia's incompetence. This is kinda frustrating and while I still have coins in their possession, I might just give it up because I don't want to go under the stress of adhering in their "process". Also, those coins are worth nothing now so meh.  

There will be many users that for one reason or another will not want to send their KYC.

They will have said goodbye to their funds twice in that case. The first time when their funds were allegedly stolen and the second when they decided not to send their KYC.

[adaseb]

I am assuming that 99% of their accounts never completed KYC. Maybe 95% with an active balance. I think they were going to start with KYC but they ran into problems and never had time to do it.

So wondering how many people will go thru the KYC to get their coins back. I think I had like $20 in there and rather just let them keep it than go thru the paperwork. However think of how many people had balances between $20-$200. Will it be worth the KYC hassle just to get your funds back. Most people to lower the chance of identify theft will just move on with their life.

Pretty sure the people who had 5 figures or more on the exchange will KYC and wonder when they will get their funds back.

[Timelord2067]

Email received today for anyone else not in the know, or "for whom it may concern":

Have just received my first email from Cryptopia...

 

[FractalUniverse]

So wondering how many people will go thru the KYC to get their coins back. I think I had like $20 in there and rather just let them keep it than go thru the paperwork. However think of how many people had balances between $20-$200. Will it be worth the KYC hassle just to get your funds back. Most people to lower the chance of identify theft will just move on with their life.

its more like KYV [know your victim policy].
Will all the liquidators and people dealing with my id send their ids to me ?

[Indymoney]

Email received today for anyone else not in the know, or "for whom it may concern":

Have just received my first email from Cryptopia...

 

I am waiting for my first email from Cryptopia may be they send me also because I have few ETH in my wallet.

[guigui371]

I am assuming that 99% of their accounts never completed KYC. Maybe 95% with an active balance. I think they were going to start with KYC but they ran into problems and never had time to do it.

So wondering how many people will go thru the KYC to get their coins back. I think I had like $20 in there and rather just let them keep it than go thru the paperwork. However think of how many people had balances between $20-$200. Will it be worth the KYC hassle just to get your funds back. Most people to lower the chance of identify theft will just move on with their life.

Pretty sure the people who had 5 figures or more on the exchange will KYC and wonder when they will get their funds back.

You are welcome :

The liquidator has  (virtually) converted all the holdings in BTC, then into NZD to do this table



Cryptopia has  15 accounts (mainly for "withdrawl fees").


29 accounts (value unknown) are in NORTH KOREA according to IP and to KYC given to cryptopia

[JollyGood]

So wondering how many people will go thru the KYC to get their coins back. I think I had like $20 in there and rather just let them keep it than go thru the paperwork. However think of how many people had balances between $20-$200. Will it be worth the KYC hassle just to get your funds back. Most people to lower the chance of identify theft will just move on with their life.

its more like KYV [know your victim policy].
Will all the liquidators and people dealing with my id send their ids to me ?

You hit the nail on the head. The liquidators will never send their ID to anybody 

The liquidators want to know who traded with Cryptopia granted to release payments (but they also want information for reasons but not disclosed including) to log trading patterns and associate them to the individual.

What will they do with all that information when they get it?

[arielbit]

always remember the liquidators are in this for the money, they are looking for profits like flies to shit  

it is always about the money, just like the founders who quit their jobs before turning this so called "exchange hack"(running away with everyone's money) into a shit show.

why is it so hard for cryptopia to just press the "enable withdrawal button"? same with the liquidators, well it is all in front of everybody..LIQUIDATORS ==> LIQUIDATES YOUR COINS. that's why they are called liquidators LOL, they are running the numbers for MAXIMUM PROFIT.

[Viper1]

why is it so hard for cryptopia to just press the "enable withdrawal button"?

1. There is no cryptopia anymore to push any buttons
2. The government is now involved and they have pesky things like laws and regulations and the like.