Cryptopia Cryptocurrency Platform Services and Development

[paramind22]

Has anyone had any of their coins returned to them yet?

I got tired after the fourth try with shoddy website interfaces/verification/double verification after I already verified on various of the hack sites to give the refund process much more work as of yet.  


If I'm not mistaken, this theft was done at the start of a bear market and now its ridden out one bull market, we are now in a lull even bear market, to pay us back maybe at the top of the next bull market?  Probably even one more go around.  

Maybe Bitcoin will be 100K then.

[c4s7or]

Neverending drama

[Lafu]

There is now the Liquidators Seventh Report on the State of Affairs of Cryptopia Limited out since yesterday !
You can read find the Report and Update in form of an PDF file on the Liquidators Webpage and also on the link i have written here.
Its nothing special new on this update really but just wanted to let you know about it.

Source : https://www.grantthornton.co.nz/cryptopia-limited/
Source1 : https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/seventh-liquidators-report_cryptopia.pdf
Source2 : https://twitter.com/Cryptopia_NZ/status/1536582334891163648

[cryptopia.victim]

Grant Thornton says they will need sufficient progress in account holders completing stage 2 and they expect more months. When they talk about months they mean years again?
Why should someone still get in touch if they haven't done it in the past 10 months?
I can imagine that they get a lot of money for lending our coins, more than the thieves stolen in 2019.

At a limitation of damage by returning our property before another price drop, they do not seem to be interested.

[JollyGood]

I am disappointed to see this drama is still continuing. How much of the recovered funds have gone directly in to the pockets of Grant Thornton to cover their expenses while they investigate. What will be left for victims? When will victims receive their funds? There is no end in sight, this saga goes on and on.

[paramind22]

There's an old book called Get Rich Quick Wallingford.  It was also a movie.  It's a great read, probably can find it free online. 

The theme of the book is stealing money legally. 

[Daltonik]

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

[nordtyt]

Hello everyone. Cryptoia was really a cool exchange. Soon 4 years, as she is gone.  I am looking for former holders of skeincoin and dimecoin coins. There is also an offer for other speculators, traders of this platform. Write to me personally or here in the branch. I want to discuss options for cooperation to promote a project that was created a year ago and is gradually developing. We will reimburse the holders of skeincoin and dimecoin for the losses on the Cryptopia exchange.

[JollyGood]

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

[Daltonik]

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

The last report of the liquidators is dated June 17, 2022. It contains data from appendix "A" "Receipts and Payments" in total for the period from November 15, 2021 to May 14, 2022 in the column total payments amounted to $2,715,232 if I understand correctly.

https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/seventh-liquidators-report_cryptopia.pdf

[malcovi2]

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

Lucky for those Cryptopia users who are eligible to recoup their money, the government agency involve was faster to process everything compared to Mt.Gox it took a decade before they release a payment schedule.
But still I don't think that funds left is able to cover all the hacked amount and I hope more people are going to learn not to keep all of their assets in centralized exchanges.

[Lafu]

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

You can read that all in there last Report and Update they have done and made already mentioned from Daltonik.
https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/seventh-liquidators-report_cryptopia.pdf

Lucky for those Cryptopia users who are eligible to recoup their money, the government agency involve was faster to process everything compared to Mt.Gox it took a decade before they release a payment schedule.
But still I don't think that funds left is able to cover all the hacked amount and I hope more people are going to learn not to keep all of their assets in centralized exchanges.

The investigation of the Hack and the liquidation are 2 different cases , i guess that we will get more Information about how the will handle the recover from the hack
after the Users have there Coins back maybe , but i dont know really and thats only a speculation from my end.
We will see how it will be coming and maybe there will be coming and Update in the next weeks how are the things .

[Lafu]

Since today there is a new Update out from the Liquidators and the next Stage have started.
Everybody that have completed stage 1 and 2 will be receive an Email.
You can read it here at the Source Links.
Source : https://www.grantthornton.co.nz/insights/update-for-cryptopia-claimants-and-stakeholders-11-november-2022/
Source : https://twitter.com/Cryptopia_NZ/status/1590911938594103296

[TheCryproMaster]

Yep have had the balance email and confirmed all present and correct. Luckily was holding no ETH at the time.

[ovcijisir]

I also recieved e-mail. There are a lot of things you need to agree to receive your funds:

Balance Acceptance Disclaimer
This portal includes access to information about the coin balances (active and delisted coins from the exchange) that Cryptopia Limited (in liquidation), acting via its liquidators, Messrs David Ruscoe and Russell Moore of Grant Thornton New Zealand, (Cryptopia) shows in relation to your Cryptopia account(s).  You will be asked to review the displayed coin balance(s) and either accept or dispute the balance(s).
You acknowledge and agree that:
Cryptopia makes no warranties, guarantees or undertakings as to the accuracy or completeness of the information displayed;
coin balances shown are as per the company records as at the date of the liquidation being 14 May 2019;
the actual amount available to return to you may differ from the displayed coin balance(s), regardless of whether you accept the balance(s), because:
o    any distribution to account holders is subject to court approval;
o    the amount held in the underlying wallet(s) for each coin type may be less than the aggregate of all claims by account holders, with the result that your claim in relation to that coin may be distributedon a pari passu basis;
o    coins may not be able to be realised and distributed if, for example, they are inactive, delisted or have a dead blockchain.
o    the costs and expenses incurred by Cryptopia's liquidators of administering the trust assets including the costs of distributing trust assets to account holders may be deducted from trust assets before distribution; and
o    Cryptopia may amend the balance shown where appropriate on becoming aware of new information, (for example, the recognition of previously unrecorded deposit or withdrawal in the Cryptopia exchange database).
if you decide to dispute your claim balance(s), you must select the Dispute button in the Portal and then provide sufficient supporting information of your view of the value of your claim balance(s) within 20 working days of indicating your dispute.  If you select the Dispute button and do not provide such supporting information within that timeframe, you are deemed to have accepted the claim balance(s) (noting that the actual amount paid to you can differ from the claim balance as described above).  All information you provide must be true, complete and accurate in all respects.

[Blawpaw]

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

It is not just the KYC, they are asking users for old information that they will not be able to access such as the number of X tokens you had at the moment the exchange went down. I hqad about .25 BTC in cryptos overthere and I fear I'll never be seing it again.

[JollyGood]

I feel sorry for every investor that trusted Cryptopia and in turn trusted their owners and founders. Many of them will not make a claim in order to avoid KYC and many of those willing to send KYC will not be able to provide exact amounts they lost when the exchange closed. This is sadly another disastrous piece of news for long suffering investors to read.

The 0.25 BTC or so that you have lost is not a small amount. If will you be able to remember exactly which coins and tokens you held at the time of the collapse what will you do next?

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

It is not just the KYC, they are asking users for old information that they will not be able to access such as the number of X tokens you had at the moment the exchange went down. I hqad about .25 BTC in cryptos overthere and I fear I'll never be seing it again.

[Daltonik]

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

It is not just the KYC, they are asking users for old information that they will not be able to access such as the number of X tokens you had at the moment the exchange went down. I hqad about .25 BTC in cryptos overthere and I fear I'll never be seing it again.

I'm sorry about your loss, yesterday I spoke with a friend who was on cryptopia at the time of the hack and he confirmed that the entire balance of the Doge he had at that time was ~1,000,000 coins he displayed, but he has concerns that liquidators may begin to impose restrictions on citizens of certain countries, yes, not yet, but who he knows what will happen next.

[Lafu]

There was an Update this morning from the Liquidators !

Its nothing big and only the " Ninth Report on the State of Affairs of Cryptopia Limited (in Liquidation) "

Source :
https://www.grantthornton.co.nz/cryptopia-limited/
https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/ninth-liquidators-report_cryptopia.pdf?fbclid=IwAR0gGpqjKAqR40tzPmrOBC8GPb0BuATYDvrwoDr-w16s2ClDf6qT3doOB7o

[JollyGood]

This is the part I found (almost) laughable, they have claimed $460,000 as their fees for this period whatever that might mean. Overall, for the work they have been doing they must have already taken millions of USD$ from the funds that were recovered.

Remuneration Report:
The Liquidators’ remuneration received for the Period, charged at the hourly rates, totalled $459,727 exclusive of GST. This includes time spent carrying out investigations, attempting to secure hacked assets, development and management of the claim’s portal, designing and overseeing an appropriate identity verification process, supervision of the Cryptopia customer support team, development and engagement with specialist Crypto-asset experts and liaising with legal authorities.

In the report they mentioned they have asked authorities in various countries to seize and/or return funds based on them being taken in the alleged 2019 Cryptopia hack therefore the funds recovered could go a long way to helping victims.

There was an Update this morning from the Liquidators !