Cryptopia Cryptocurrency Platform Services and Development

[arielbit]

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.

yeah i mean in the past, should have used past tense "was"

yup, cryptopia planned that shit-use the law to lock up the coins for balancing the budget/ledger (their budget)....well it everyone's money in fact LOL

[almightyruler]

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

I wonder if they're simply multiplying the balance of each coin by the last trade value on its market, which would be a dangerous way to calculate total value, considering that there were many obscure coins without much buy support. Any dump (if it could even be traded still) would cause massive slippage. You can't claim 10000 of coin "X" is worth $10000 NZD if the bottom of the book has an order for 9000 @ $0.01 NZD.

[Saint-loup]

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

I wonder if they're simply multiplying the balance of each coin by the last trade value on its market, which would be a dangerous way to calculate total value, considering that there were many obscure coins without much buy support. Any dump (if it could even be traded still) would cause massive slippage. You can't claim 10000 of coin "X" is worth $10000 NZD if the bottom of the book has an order for 9000 @ $0.01 NZD.

I think it's the main point of the case because Cryptoptia was essentially an exchange of shitcoins (living dead coins, scam coins, very low caps coins,...). So does anyone know how the liquidator will sell these coins? If the liquidator won't sell the coins by auction or Over-The-Counter, but through exchanges (DEX, etc) most of the markets will crash and our funds will worth nothing.  

[TheCryproMaster]

Not a chance it will be done in one go, a gradual release to get max benefit. They gonna milk this cow dry to the last cent.

[JollyGood]

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.

Sure it makes sense the liquidators want to maximise their profits. If there was nothing in the pot they would never have taken the job on.

I think the more people refusing to send KYC means the greater the share for liquidators and for those investors that did send their KYC.

[TheCryproMaster]

OK for anyone wanting something to happen any time soon I can say from very personal experience the NZ white collar workforce(so that sisquo dumbass dumbass understands office workers) have officially wound down for the long Xmas break. Its summer here, off to the bachs, beaches and barbeques. Cup day has come and gone, the ladies wore elegant gowns and got drunk and the blokes wore tight fitting suits, loosened them, and got drunk.

Back to work and back into action is end of January.

Merry xmas ya'll, even you sisquo have a great holiday in cold Canada.

 

[2local]

Really like the Marketplace. I have a listing at best cryptocurrency to investment

I was delighted to know how to get cryptocurrency investments in the world of Cryptopia. I also understand the DOT term desposits to earn. And I want more know-how on Investments and a way to earn. And I understand that services availed through Paytopia are also a part of Cryptopia.

[Timelord2067]

Really like the Marketplace. I have a listing at best cryptocurrency to investment

I was delighted to know how to get cryptocurrency investments in the world of Cryptopia. I also understand the DOT term desposits to earn. And I want more know-how on Investments and a way to earn. And I understand that services availed through Paytopia are also a part of Cryptopia.

Are you looking to buy Cryptopia's in house crypto DOT? It's named after Kim Dot Com you know. 

[arielbit]

https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/second-liquidators-report-to-creditors_cryptopia.pdf

Company Crypto-AssetsAs included in the first report on the 29 May 2019 a High Court order was made that Bitcoin being held in the company wallet outside of known client funds, could be converted into fiat currency to help fund the liquidation and the protection and preservation of crypto-assets for the benefit of those entitled to them. These 344 BTC were converted into $4,427,292.

Funds recoveredThe company at the date of liquidation had a balance of $5,022,935sitting in a 3rdparty trust account this was recovered by the Liquidators.

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:

1.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.

2.No detailed reconciliation process between the customer databases and the crypto-assets held in the wallets has ever been completed.

told ya...."vultures" .....follow the money until it's....gone. watch how they milk it dry LOL

675k $ of human labor and still they can't count your coins that already has records in the database in each user accounts.

....specialist my ass.

[psycodad]

...

told ya...."vultures" .....follow the money until it's....gone. watch how they milk it dry LOL

675k $ of human labor and still they can't count your coins that already has records in the database in each user accounts.

....specialist my ass.

So far they have setup everything like the macchiato bar, promoting someone for gender questions (should they arise while counting coins), hookers for afterdinner and so on. Takes time to get the work environment properly set you know. Soon they will start preparing for the big counting of coins...

If you have coins in Cryptopia, better start living healthy so you can see the moment when they tell you nothing is left, all needed for their expenses.

I wonder who is worse, the Cryptopia garage exchange amateurs or the liquidator vultures.

[FractalUniverse]

So far they have setup everything like the macchiato bar, promoting someone for gender questions (should they arise while counting coins), hookers for afterdinner and so on. Takes time to get the work environment properly set you know. Soon they will start preparing for the big counting of coins...

If you have coins in Cryptopia, better start living healthy so you can see the moment when they tell you nothing is left, all needed for their expenses.

I wonder who is worse, the Cryptopia garage exchange amateurs or the liquidator vultures.
[/quote]

and in the meantime they can sell IDs acquired from KYC on dark web to get some supplemental income; like many hyip and various ponzis admins did in the past. new times, old tricks.  

[Timelord2067]

If I'm reading this correctly, there's ten people working on the project having done nearly 1700 hours combined.

1700/10 = 170 hours.

40 hour working week.

170/40 = 4¼ weeks each person (on average) has worked on the project.

Since ? When was it they were appointed ?? March?

[sisquo2121]

Lawsuits need to be filed. This has gone on long enough. When is the class action lawsuit going to start. How do we petition the court to hear the customers side of things.

These lowlife scum are giving a one sided version to court and are trying to claim that the coins are Cryptopias assets and not held in trust.

Everyone knows they are held in trust and are not to be touched. The Cryptopia website says explicitly they are held in trust. The New Zealand laws says they are held in trust yet these scumbags are trying to steal our coins.

[TheCryproMaster]

https://beincrypto.com/cryptopia-liquidators-make-progress-7-million-currently-held-for-repayment/

And from the article -

Nonetheless, as of November 14, 2019, Grant Thornton had $7.16 million in net funds on hand, reduced from $10.9 million since its appointment as liquidators in May, due to a variety of expenses and fees. As such, it appears likely that less than $5 million will be distributed to remaining creditors — seeing some customers lose as much as 75 percent of their funds.

That's fucking shocking considering as the only sensible thing sisq above has said those coins ARE held in trust. Granted most of those coins were utter shit its unbelievable GT can milk this cow dry as long as they want and there is fuck all anyone but GT can do about it. Fuck class action lawsuits what fucking deranged loony wants to throw good money after bad this is a legal heist and we can only sit here holding our nut sacks watching it get bled dry.

Fuck it. Kissing this goodbye and a lesson learnt.

[four3200]

watch how they milk it dry LOL

675k $ of human labor and still they can't count your coins that already has records in the database in each user accounts.

....specialist my ass.

Nearly $1M billed.

No payouts made.

 

or $1M bill and still clueless.


ALL COINS COULD HAVE BEEN REFUNDED FOR $0 nzd.
They just had to ask for help.

[four3200]

Lawsuits need to be filed.  

This is is the results of NZ corp legal and finsec police policy.  

CRIMINAL.

The only response is to black list NZ from cryptospace.
They clearly want and will fuck you with all 5 eyes.

Of all the jurisdictions on the planet avoid the District of New York, and NZ.  Until the end of time.

They are in quarantine.  And can stagnate into the stone age.

[sisquo2121]

These idiots have the exact amount were owed right in the database. They don't have to reconcile anything. All they have to do is secure the wallets and let each person withdraw what they're owed, which is calculated precisely in the database.  

We need a laywer working for the customers interests to explain to the judge that the coins are held in trust; and some experts to testify that this is a simple operation, just secure the coins and let us withdraw the amount were owed recorded in the database.

Even better than that would be to not wait for the courts to decide something and take it into our own hands.

One of the liquidators is David Ruscoe. We should pay that guy a visit with a lead pipe and administer a little street justice to his knee caps.

I've sent him numerous emails and even threatened him with violence. If you want to contact him heres his email

david.ruscoe@nz.gt.com

[Finger]

liquidators to da mo0n without air

[TheCryproMaster]

These idiots have the exact amount were owed right in the database. They don't have to reconcile anything. All they have to do is secure the wallets and let each person withdraw what they're owed, which is calculated precisely in the database.  

We need a laywer working for the customers interests to explain to the judge that the coins are held in trust; and some experts to testify that this is a simple operation, just secure the coins and let us withdraw the amount were owed recorded in the database.

Even better than that would be to not wait for the courts to decide something and take it into our own hands.

One of the liquidators is David Ruscoe. We should pay that guy a visit with a lead pipe and administer a little street justice to his knee caps.

I've sent him numerous emails and even threatened him with violence. If you want to contact him heres his email

david.ruscoe@nz.gt.com

You fucking dumb cock sucking dick shit threatening anyone with violence is wife beating mentality. You suck your mamas titties with that mouth?

Its Christmas. Go find an ugly santa sit on his lap and let him suck off all your anger. Take your lead pipe and shove it up your ass.

[sisquo2121]

These idiots have the exact amount were owed right in the database. They don't have to reconcile anything. All they have to do is secure the wallets and let each person withdraw what they're owed, which is calculated precisely in the database.  

We need a laywer working for the customers interests to explain to the judge that the coins are held in trust; and some experts to testify that this is a simple operation, just secure the coins and let us withdraw the amount were owed recorded in the database.

Even better than that would be to not wait for the courts to decide something and take it into our own hands.

One of the liquidators is David Ruscoe. We should pay that guy a visit with a lead pipe and administer a little street justice to his knee caps.

I've sent him numerous emails and even threatened him with violence. If you want to contact him heres his email

david.ruscoe@nz.gt.com

You fucking dumb cock sucking dick shit threatening anyone with violence is wife beating mentality. You suck your mamas titties with that mouth?

Its Christmas. Go find an ugly santa sit on his lap and let him suck off all your anger. Take your lead pipe and shove it up your ass.

Shut up you fucking new zealand trash. I knew you worked for them you stupid mother fucker. They'll never give us our coins. It's over you stupid low iq dummy. You fucking slime. You just showed everybody who you work for. I'll take an ax to you fucker. Anytime you little dumb fucking cunt . You attention seeking maggot.  If they're going to steal the coins I'll get my moneys worth on you and that david ruscoe.

You mouthy scum. I'm going track you down and stab your eyes with ice picks you worthless dumb slimeball fucking cryptopia employee idiot.