Timelord2067
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Activity: 3654
Merit: 2216
💲🏎️💨🚓
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March 21, 2020, 02:16:31 PM |
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What is the current situation with this exchange at the moment? What I read last, everyone who wants to get his active back has to go through the identification process, is that right? and where can you do that? I haven't received any information from exchange so far
The administrators of Cryptopia have been very selective in who they contact while they sort through the mess created by the Cryptopia owners by trading while insolvent. Basically, they want users to prove their identity before they will hand over funds. When that happens and how much of a refund is anyone's guess. |
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No Gods or Kings. Only Bitcoin
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TheCryproMaster
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March 23, 2020, 08:34:07 AM |
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With world events unfolding to dire situations. And now this country in lockdown from Weds for 4 weeks minimum, we have another stretch of delay for the foreseeable.
Time to forget about this till COVID is licked. Enjoy isolation. Stay safe all.
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WickedPigeon
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Activity: 345
Merit: 16
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March 23, 2020, 02:20:41 PM |
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Time to forget about this till COVID is licked. Enjoy isolation. Stay safe all.
You too! nothing to do but go out to my front porch and sing... Sometimes the light's all shinin' on me Other times, I can barely see Lately, it occurs to me What a long, strange trip it's been |
“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
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guigui371
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Activity: 2114
Merit: 1693
C.D.P.E.M
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March 31, 2020, 09:04:31 PM |
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it ain't much but it's honest work
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Timelord2o67
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Activity: 372
Merit: 39
Ditty! £ $ ₹ € ¥ ¢ ≠ ÷ ™
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April 01, 2020, 08:34:00 AM |
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Interesting reading material for the lockdown. I'm guessing any court related updates for the time being will be procedural in nature.
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BubbleButtBabe
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Activity: 30
Merit: 0
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April 05, 2020, 01:13:04 PM |
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Its pretty obvious what Grant Thornton is trying to do. They're trying to claim the database is inaccurate and that the customers can have whatever is left in the wallets.
That means Grant Thornton and the Cryptopia thieves can drain most of the wallets coins and claim the database was off on its calculations. It just gives them room to steal the over 90% of the coins that should still be in the wallets.
We know the database is 100% accurate. It was maintained precisely by the Cryptopia staff. We also know that to calculate how much each coin the users own in the database and comparing it to the coins wallets is very simple.
You would just execute very simple sql commands to specify the total amount that users own for each coin and do a quick comparison with whats left in the wallet. I'm assuming they used a sql database. It could be any database and that database would have its own set of database commands.
This is not Mt Gox which lost 100% of their coins. Cryptopia lost between 5% to 10% of the coins on the site. The judge better see through the nonsense that Grant Thornton is doing and put an end to it fast.
The New Zealand judge is just letting them get away with absolute criminal level behavior. Grant Thornton hasn't contacted any of the developers to make sure the coins binaries are up to date so they can be withdrawn.
They haven't secured the coins to prevent future coins from being hacked and stolen. They've sold some office chairs and computers and charged 1 million for something that can be done by grade school teenagers in a couple days.
We need some experts to explain to the judge and point out all the nonsense Grant Thornton has been up to. The judge needs more than just legal arguments he needs to know exactly how everything works.
Right now he's just getting the wool pulled over his eyes by Grant Thornton. They're just snowballing him him with lies because they know the judge doesn't have a clue about how cryptocurrency works.
Totally agree. Binance captured a HUGE amount of the stolen funds and said they would return them This judge is likely some old fool who has no clue about these theives and scammers activities. Or is on the payroll What a scam. I hope investors are not going to bend over foe grant Thorne and the cryptopia theives. Best to bring in another legal team that will get to the bottom of this even if they want a slice of the recovery. The recaptured funds by binance is where exactly now? Was it 500 btc or more? This grant Thornton piece of shit company are going to drain this pot for themselves and cut the cryptopia crooks and judge in too I expect. Their "fees" are likely exorbitant. |
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TheCryproMaster
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April 05, 2020, 09:28:39 PM |
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You are fucking deluded if you think Binance will in any way return anything back to a pissly little exchange in the middle of nowhere. They don't give a flying fuck.CZ is taking over the crypto world and will rightly tell the liquidators to go fuck themselves knowing they have no jurisdiction to do anything to Binance.
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Fallenkeith75
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Activity: 242
Merit: 10
Hi Crypto Friends :)
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April 06, 2020, 04:29:02 PM |
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You are fucking deluded if you think Binance will in any way return anything back to a pissly little exchange in the middle of nowhere. They don't give a flying fuck.CZ is taking over the crypto world and will rightly tell the liquidators to go fuck themselves knowing they have no jurisdiction to do anything to Binance.
Harsh, but I agree lol. The issue is that with this whole legal mess, it looks like its turning into another mt.gox...so, even though I lost some funds in the exchange i'm not really expecting my money back for a long time. |
Make sure to always backup your crypto seeds and passphrases friends
~If you see this signature, I hope you have a great day today!~
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Fallenkeith75
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Activity: 242
Merit: 10
Hi Crypto Friends :)
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April 06, 2020, 04:32:31 PM |
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We know the database is 100% accurate. It was maintained precisely by the Cryptopia staff.
What you should have then added to that statement was : It was maintained precisely by the Cryptopia staff who, when the wallets were drained of funds, were unable to stop the theft of users' funds over a two week period when multiple thefts occurred and then phoned the police to report that a theft had occurred.They also opened up withdrawals and accepted deposits again, only for the exchange to go offline indefinitely. I kinda want to say it's shady at the very least and it helped perhaps owners and shareholders (this is my speculation btw) to get some of their funds off the exchange, but I don't think there's any proof of it. I had around 0.0033 btc or so left on the exchange for trading and took the rest off during that period. It would be cool to get it back one day, but i'm erring on the side of caution and writing it off for the foreseeable future. I really do hope everyone gets their funds back one day though. |
Make sure to always backup your crypto seeds and passphrases friends
~If you see this signature, I hope you have a great day today!~
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TheCryproMaster
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April 08, 2020, 09:41:06 AM |
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Well I'm dusting off my documents and getting my KYC on.
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Fallenkeith75
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Activity: 242
Merit: 10
Hi Crypto Friends :)
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April 08, 2020, 12:33:05 PM |
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Ah, that's pretty good news tbh! I never did KYC (I still have access to my email address and I remember my login) and I live in the US though, will that affect that? |
Make sure to always backup your crypto seeds and passphrases friends
~If you see this signature, I hope you have a great day today!~
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Bigger By The Day
Newbie
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Activity: 641
Merit: 0
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April 08, 2020, 03:27:43 PM |
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i want my pakcoin PAK BACK ! SCAMERS
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four3200
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Simple solution.
Can you login?
Ok.
[withdraw]
DONE.
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TheCryproMaster
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April 09, 2020, 11:58:55 PM |
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Simple but an impossible scenario now that AML laws in NZ require KYC at a minimum.
I'm glad that's the case. No KYC. Tough shit.
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uki
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Activity: 1358
Merit: 1000
cryptojunk bag holder
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April 16, 2020, 02:14:49 PM |
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Simple but an impossible scenario now that AML laws in NZ require KYC at a minimum.
I'm glad that's the case. No KYC. Tough shit.
As far as I remember (you may double check GT documents to prove it), it was told in the very beginning, that once the court verdict is settled, they will start the KYC procedure and then enable the withdrawals. Meaning, not being previously verified (like myself) does not mean you won't get your coins. The problem that I see, despite this very positive verdict, is that the entire KYC procedure and then withdrawal setup can take endlessly long and there will be no enforcement to speed it up. |
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paramind22
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April 16, 2020, 06:06:34 PM |
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So who is going to maintain 100+ wallets so people can withdraw? Or, are they going to convert it all to BTC and we withdraw that? I think some of the old coins are now inactive.
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erikalui
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Activity: 2632
Merit: 1094
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April 16, 2020, 06:30:59 PM |
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So you just need to get KYC and you can withdraw all your coins right?
Atleast got to hear some good news better than no news at all.
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Timelord2o67
Member
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Activity: 372
Merit: 39
Ditty! £ $ ₹ € ¥ ¢ ≠ ÷ ™
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April 16, 2020, 09:13:27 PM |
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i want my pakcoin PAK BACK ! SCAMERS
You do understand that PAK coin did a reimbursement "swap" and then moved to a new block-chain months ago? I did read something about it a while ago, can't recall the exact details but I'd say there's going to be tears shed by this newbie user with activity 621 and not one merit... |
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sisquo2121
Jr. Member
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Activity: 127
Merit: 5
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April 17, 2020, 12:03:33 AM
Last edit: April 17, 2020, 03:42:40 PM by sisquo2121 |
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The judge should now set a time limit or Grant Thornton will drag this out for a long time. If Grant Thornton doesn't want to return the coins promptly and continues to drag this out then lawsuits and criminal charges are coming. Whats very disturbing is how Cryptopia initially said a maximum of 9% of the coins were stolen. Which means at the worst 9% of the coins were stolen. So somewhere in the range of 5% to 9% of the coins were stolen. Grant Thornton's documents say that somewhere between 9% and 15% were stolen. How did they jump from a maximum of 9% to a maximum of 15%. Grant Thornton and the Cryptopia thieves are continuing to drain the coins wallets and hoping nobody notices it. Some company named Elementus did a detailed report initially on exactly how many and which coins were stolen, so if any more coins are stolen it should be able to be found out about. https://elementus.io/blog/cryptopia-hack-transparency/If it turns out that Cryptopia and Grant Thornton are continuing to steal coins then embezzlement charges will be coming down the pipe for those idiots. They need to secure the wallets, update the binaries for each wallet , which means contacting coins developers and downloading the latest software, and running sql commands for each coin, totaling the amount for each coin in the database, and comparing the amounts to how many coins are in each of the coins wallets. Then finally emailing us with temporary user names and passwords so we can log in, upload kyc, and withdraw the coins. This shouldn't take more than a month to finish. |
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