Cryptopia Cryptocurrency Platform Services and Development

[JollyGood]

Well, you have to ask yourself about the function of any administrator/liquidator that has been appointed to collate the assets of any company they are investigating. How many are primarily profit agencies that end up taking a huge amount of the assets to cover their own expenses while they investigate the matter?

After they take the funds for themselves, what remains is distributed (in most cases) unfairly across investors. If Cogito are taking advantage of the current situation it does not mean investors should give in to their offer.

I remember my balance being around $100 to $150 at the time of the hack.

Why would I want to sell that for a questionable token like they are offering that I would only be able to sell for around $5??

I mean, isn't that the math being this?

[paramind22]

Well, you have to ask yourself about the function of any administrator/liquidator that has been appointed to collate the assets of any company they are investigating. How many are primarily profit agencies that end up taking a huge amount of the assets to cover their own expenses while they investigate the matter?

After they take the funds for themselves, what remains is distributed (in most cases) unfairly across investors. If Cogito are taking advantage of the current situation it does not mean investors should give in to their offer.

I remember my balance being around $100 to $150 at the time of the hack.

Why would I want to sell that for a questionable token like they are offering that I would only be able to sell for around $5??

I mean, isn't that the math being this?

The court who appointed such a liquidator should be investigated, subpoenaed, and prosecuted by a higher govenmental authority.  

How about Tom Udall (I lived near a Udall road in West Islip, NY).   Ambassador of the United States to New Zealand/Officeholder

There are no coincidences.  

[Lafu]

There are news from the Liquidators!
https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-5-march-2024/

Here you will find 2 pdf Links:
https://www.grantthornton.co.nz/globalassets/_markets_/nzl/media/ruscoe-v-houchens-distribution-2024-nzhc-419.pdf
https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/f20240301-sealed-orders-for-distribution-of-cryptocurrencies.pdf

[JollyGood]

If I understood parts of the work Grant Thornton have concluded already including travel abroad, it seems every expense they incurred will be paid for by using/selling the assets of Cryptopia. I could be wrong therefore please do correct me but did we ever get to see any balance sheet from Grant Thornton about expenditure?

I am sure it will be shown at the end when they recoup all their money along with fees, salaries and possible interest from Cryptopia assets before releasing the remaining amounts to victims but to see something at this stage would give an idea of how/where/when they spent money knowing Cryptopia victims will pay for it in the end.

The court who appointed such a liquidator should be investigated, subpoenaed, and prosecuted by a higher govenmental authority.  

How about Tom Udall (I lived near a Udall road in West Islip, NY.   Ambassador of the United States to New Zealand/Officeholder

There are no coincidences. 

[Saint-loup]

There are news from the Liquidators!
https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-5-march-2024/

Here you will find 2 pdf Links:
https://www.grantthornton.co.nz/globalassets/_markets_/nzl/media/ruscoe-v-houchens-distribution-2024-nzhc-419.pdf
https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/f20240301-sealed-orders-for-distribution-of-cryptocurrencies.pdf

Unfortunately, as I understand low balance accounts are not entitled to claim their remaining assets, as I understand. What is/will be the threshold for that? Does anyone knows it?

Low Account Balances: Account holders who have an account balance equivalent to or less than the actual or anticipated cost of the trust administration as at the date of any proposed distribution are deemed to have no right to participate in the distribution of cryptocurrencies by the liquidators.

Completing a KYC process will be mandatory but what will happen if you haven't put your real name in your account?

Distribution Process: The Liquidators are permitted to make distributions of cryptocurrency held on trust to account holders, subject to certain conditions including:
the submission of claims before ‘cut-off date’ in line with section 3 of the update found here includes orders that allow for top-up distributions from unclaimed holdings up to 100% of account holdings after some time  
completion of identity verification

I see there is a soft "cut-off date" at the end of June and a "final" one at the end of the year(2024). What does it mean?
They are talking about BTC and DOGE trusts, what is it precisely?
Account holders will have the right to make a kind of appeal if they are not satisfied but who will hold it?

Review Process: If the liquidators reject a claim in whole or in part, these orders set out a process where if an account holder is dissatisfied with the Liquidators’ decision with respect to their claim, the account holder may request a review to determine if the decision should stand.

[Lafu]

Unfortunately, as I understand low balance accounts are not entitled to claim their remaining assets, as I understand. What is/will be the threshold for that? Does anyone knows it?

Here in this link https://www.grantthornton.co.nz/globalassets/_markets_/nzl/media/ruscoe-v-houchens-distribution-2024-nzhc-419.pdf
There is somewhere written as far i understand that at least the Account has to be a value at 20 $ , but i dont know if it is USD or NZD $

Completing a KYC process will be mandatory but what will happen if you haven't put your real name in your account?

Dont know really and you have to ask the Support about that.

I see there is a soft "cut-off date" at the end of June and a "final" one at the end of the year(2024). What does it mean?

I know only the "cut-off date" in december but also its all written down in links how and when.

[examplens]

Completing a KYC process will be mandatory but what will happen if you haven't put your real name in your account?

Dont know really and you have to ask the Support about that.

If I remember correctly, at the beginning it was not mandatory to enter any name there. I guess that's why they can't require that the name entered during registration matches the real name from the KYC process. But everything is possible, as well as the fact that they will look for any reason to refuse KYC.

It would have to be a serious amount to give personal information to a hacked exchange like Cryptopia.

[Lafu]

If I remember correctly, at the beginning it was not mandatory to enter any name there.

Thats true , you have to put your used Account Name in there and your registered email adress from Cryptopia.
But here it was already knowen that if you want your funds back you have to do the KYC process when its time for.

But everything is possible, as well as the fact that they will look for any reason to refuse KYC.
It would have to be a serious amount to give personal information to a hacked exchange like Cryptopia.

For me the KYC procedure was easy and without any problems and it was not rejected.
The Amount is worth it and it looks like that the waiting was also worth it , fingers crossed.

[Saint-loup]

Could you tell us what documents were asked for the KYC procedure precisely?
As I understand the soft cut off date is at the end of this month. According to this, you need to have been "registered" in the claims portal before this date. But it's not clear what registered means precisely.

After the Soft Cut Off Date, any cryptocurrency belonging to account holders who have not registered in the claims portal will be considered "unclaimed holdings". The liquidators will use the unclaimed holdings to pay for the costs of trust administration, in the first instance.

https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-20-february-2024/

[Lafu]

Could you tell us what documents were asked for the KYC procedure precisely?
As I understand the soft cut off date is at the end of this month. According to this, you need to have been "registered" in the claims portal before this date. But it's not clear what registered means precisely.

After the Soft Cut Off Date, any cryptocurrency belonging to account holders who have not registered in the claims portal will be considered "unclaimed holdings". The liquidators will use the unclaimed holdings to pay for the costs of trust administration, in the first instance.

https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-20-february-2024/

For the KYC procedure you need the same as anywhere else , ID Card and that stuff.
At some stage there will be the " Soft Cut Off Date " that means that its not anymore possible to claim your Coins or your Account on the Claims Portal.
If you havnt registered now on the Claims Portal you should be doing that and follow the other steps there.
Registered at the Claims Portal means you give them the email you used at Cryptopia and the Username you have got there.
You have to do this with the speciall Link for you created and sended to your Email you was using on Cryptopia.

Also there was an Update yesterday from the Liquidators:
https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-21-june-2024/

[Saint-loup]

Could you tell us what documents were asked for the KYC procedure precisely?
As I understand the soft cut off date is at the end of this month. According to this, you need to have been "registered" in the claims portal before this date. But it's not clear what registered means precisely.

After the Soft Cut Off Date, any cryptocurrency belonging to account holders who have not registered in the claims portal will be considered "unclaimed holdings". The liquidators will use the unclaimed holdings to pay for the costs of trust administration, in the first instance.

https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-20-february-2024/

For the KYC procedure you need the same as anywhere else , ID Card and that stuff.
At some stage there will be the " Soft Cut Off Date " that means that its not anymore possible to claim your Coins or your Account on the Claims Portal.
If you havnt registered now on the Claims Portal you should be doing that and follow the other steps there.
Registered at the Claims Portal means you give them the email you used at Cryptopia and the Username you have got there.
You have to do this with the speciall Link for you created and sended to your Email you was using on Cryptopia.

Also there was an Update yesterday from the Liquidators:
https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-21-june-2024/

I think I have been misleaded by this picture in the link I quoted above, because from what I understand of their last communication, no "soft cut off date" has been decided and set yet, even less notified. It was just a provisional schedule, that's obviously why they've written "indicative timeline" aside. So I think customers are still fully entitled to register or complete KYC requirements with the liquidators actually.



https://www.grantthornton.co.nz/cryptopia-limited/update-for-cryptopia-claimants-and-stakeholders-20-february-2024/

[Lafu]

Important update and an email from the Liquidators (enter wallet addresses for Bitcoin and Dogecoin)

As of today there is another update in the form of an email from the liquidators which initiates the next step.
Everyone who is eligible and meets the requirements for a payout should have received this email.

Email from Liquidators of Cryptopia:

Dear Cryptopia Account Holder,
We are emailing you to announce the launch of the wallet collection process.
The Liquidation Portal is now able to collect wallet addresses for the interim distribution of Bitcoin (BTC) and Dogecoin (DOGE).
You are receiving this email as you are eligible to participate in the interim distribution.  

We intend to pay out a significant portion of BTC and DOGE to those eligible users.
Eligible users will likely receive an estimated 90% of their total BTC and DOGE holdings greater than $200 NZD in value.
The remaining balance up to 100% of your accepted BTC and DOGE balance along with the other Cryptocurrencies held by you may be included in a future distribution.

The NZD $200 threshold above has been set by the Liquidators at a particular point in time and will not be revalued.
Future distributions will be based on lower thresholds as approved by the Court.

Source : From my Email i got from the Liquidators

If you now log into the Claims Portal you can enter your wallet addresses where you would like to receive your Bitcoin and Dogecoin when the time comes for the payouts to be made.

[JollyGood]

Though this will be welcomed news by those were victims of Cryptopia, there are a couple of things to remember. First, the liquidators have not given a date when any crypto will be returned and that leaves victims still waiting with no real end in sight. Second, unfortunately those that did not want to send KYC to the liquidators will never be able to see any percentage of their stolen funds returned.

This drama has been dragging along for far too long, I hope it ends soon because the Cryptopia victims have suffered enough.

Source : From my Email i got from the Liquidators

If you now log into the Claims Portal you can enter your wallet addresses where you would like to receive your Bitcoin and Dogecoin when the time comes for the payouts to be made.

[paramind22]

Important update and an email from the Liquidators (enter wallet addresses for Bitcoin and Dogecoin)

As of today there is another update in the form of an email from the liquidators which initiates the next step.
Everyone who is eligible and meets the requirements for a payout should have received this email.

Email from Liquidators of Cryptopia:

Dear Cryptopia Account Holder,
We are emailing you to announce the launch of the wallet collection process.
The Liquidation Portal is now able to collect wallet addresses for the interim distribution of Bitcoin (BTC) and Dogecoin (DOGE).
You are receiving this email as you are eligible to participate in the interim distribution.  

We intend to pay out a significant portion of BTC and DOGE to those eligible users.
Eligible users will likely receive an estimated 90% of their total BTC and DOGE holdings greater than $200 NZD in value.
The remaining balance up to 100% of your accepted BTC and DOGE balance along with the other Cryptocurrencies held by you may be included in a future distribution.

The NZD $200 threshold above has been set by the Liquidators at a particular point in time and will not be revalued.
Future distributions will be based on lower thresholds as approved by the Court.

Source : From my Email i got from the Liquidators

If you now log into the Claims Portal you can enter your wallet addresses where you would like to receive your Bitcoin and Dogecoin when the time comes for the payouts to be made.

They are selective who they send emails to.

You got one.  I'm sure many did not.

[monrad]

Though this will be welcomed news by those were victims of Cryptopia, there are a couple of things to remember. First, the liquidators have not given a date when any crypto will be returned and that leaves victims still waiting with no real end in sight. Second, unfortunately those that did not want to send KYC to the liquidators will never be able to see any percentage of their stolen funds returned.

This drama has been dragging along for far too long, I hope it ends soon because the Cryptopia victims have suffered enough.

Source : From my Email i got from the Liquidators

If you now log into the Claims Portal you can enter your wallet addresses where you would like to receive your Bitcoin and Dogecoin when the time comes for the payouts to be made.

I don't think this is true, the distribution phase is exactly that. I've received an email recently asking for my wallet address to deposit DOGE and BTC, they will be returning DOGE and BTC first. I'm pretty sure they'll deposit most of both coins before eoy. And they also said they would be returning the rest during the first half of 2025. I don't know about the other coins like LTC, etc.

[Lafu]

I've received an email recently asking for my wallet address to deposit DOGE and BTC, they will be returning DOGE and BTC first.
I'm pretty sure they'll deposit most of both coins before eoy. And they also said they would be returning the rest during the first half of 2025.
I don't know about the other coins like LTC, etc.

If you readed the Email right and also on the Claims Portal page the first refund will be around 80% of the Amount of Bitcoin and Dogecoin you have in the Balance.
There will be a second payout later (i dont know the date , when this will be happen) and after that more Coins should be refunded to the Users.
But it clearly is written that only Coins will be refunded that have an active Network , so i guess most of the older Shitcoins are dead.
What will be happen with Litecoin i dont know but i think that they will be sorted with all the other Altcoins refund later.

[paramind22]

Just another way of cheating people!  Picking who they can distribute to.  I've been in these threads since they started and I attempted to give KYC to them in fact one time it even went through.  I haven't received an email from them for about a year and a half.

The NZ government should be alerted to this.

[monrad]

Just another way of cheating people!  Picking who they can distribute to.  I've been in these threads since they started and I attempted to give KYC to them in fact one time it even went through.  I haven't received an email from them for about a year and a half.

The NZ government should be alerted to this.

Have you tried using their zendesk support? I've had no issues so far. Every time I opened a ticket, they answered me fairly quickly. Have you checked your spam folder? Their emails ended up in spam folder a couple of times.

[paramind22]

Just another way of cheating people!  Picking who they can distribute to.  I've been in these threads since they started and I attempted to give KYC to them in fact one time it even went through.  I haven't received an email from them for about a year and a half.

The NZ government should be alerted to this.

Have you tried using their zendesk support? I've had no issues so far. Every time I opened a ticket, they answered me fairly quickly. Have you checked your spam folder? Their emails ended up in spam folder a couple of times.

Can you post a link and/or an email address for this?

[monrad]

Just another way of cheating people!  Picking who they can distribute to.  I've been in these threads since they started and I attempted to give KYC to them in fact one time it even went through.  I haven't received an email from them for about a year and a half.

The NZ government should be alerted to this.

Have you tried using their zendesk support? I've had no issues so far. Every time I opened a ticket, they answered me fairly quickly. Have you checked your spam folder? Their emails ended up in spam folder a couple of times.

Can you post a link and/or an email address for this?

https://cryptopia.zendesk.com/