Ongoing Massive Cryptopia Problems - Time to Take Action!

[MadMac]

We know about the problems with Cryptopia for days, weeks, if not months. They are unable, unwilling or even intentionally hold deposits back from being credited and withdrawals from being processed.

There are hundreds of customer complaints all over the Internet, here, in their forum, in Facebook, in Twitter, in Steemit, you name it. But they can't be bothered. Support requests are simply ignored. There is no support. There is nothing but a black hole. No company address, no Email, no people, no nothing.

If you are a coin developer/provider/community, you should be on highest alert. Do not list your coins on Cryptopia! This poses an extremely high risk for any investor to lose all their funds and coins. We've just seen what happened to Nano/Raiblocks at the Bitgrail fraud.

Cryptopia may just be the next in line. All points into the same direction of failure. 3 Options, either they are insolvent, they got hacked, or they pull an exit scam, or any combination of these.

This can no longer be seen as a minor technical issue that may be resolved in some days. They have clearly shown they are unable and unwilling to fullfil their duties as registered financial service provider, based in New Zealand.

Action needs to be taken now before it is too late and they run!

[jhenfelipe]

We know about the problems with Cryptopia for days, weeks, if not months. They are unable, unwilling or even intentionally hold deposits back from being credited and withdrawals from being processed.

There are hundreds of customer complaints all over the Internet, here, in their forum, in Facebook, in Twitter, in Steemit, you name it. But they can't be bothered. Support requests are simply ignored. There is no support. There is nothing but a black hole. No company address, no Email, no people, no nothing.

I am aware of the problems several users are facing by reading the posts in their Ann Thread and social media accounts. I know how worrisome it is to encounter such as I experienced it in different exchange before, however, the bold part of your statement would still be just an accusation until proven right.

Their support is there, they noted about response delays and wait time of around 20 days. Just like other exchanges, the demand become higher, so it's always better to obey their rules and not flood them. They should have hired more staffs, yes, we don't know if they already did or not, but the decision about that is still theirs (as mentioned in the support page : "Due to continued unprecedented growth we are receiving support tickets faster than we can train new staff to deal with them.").

Their details in whois.com is public :

REGISTRANT CONTACT
Name:Rob Dawson
Street:109 Montreal Street
City:Sydenham
Postal Code:8023
Country:NZ (NEW ZEALAND)
Phone:+64 21 669851
Email:email@cryptopia.co.nz

[MadMac]

Well, there is certainly someone in their office as they continue to list new coins and have staff to delete complaints in their forums.

What they however not do at all is answering support tickets and there is reportedly a backlog of 35 days and more.You an read all this in their Facebook group. It has grown to hundreds of complaints about missing deposits and withdrawals and it's getting more on a daily basis. There is no action at all from Cryptopia and I do not know of a single case, where a case has been resolved to data.

Meaning it is not only an issue of short time overload, funds are intentionally held back and that can only mean one of the 3 mentioned things. Most likely Cryptopia is insolvent and may have been hacked. If they try to pull an exit scam has to be seen.

[pinkflower]

We have no reason to think that they have started exit scamming unless they were hacked or claiming that they were. Were they?

Another "reason" mostly used by exchanges is regulatory pressure, but if it was that, they are now being watched closely by the government and it will be less likely that they will be stealing funds.

Give them time and gather more information. Maybe they didnt pay for their internet connection lol.

[timerland]

The thing that is bothering me is that they seem to not care about resolving old disputes, instead they start listing new coins first.

That is unacceptable. As an exchange you have the responsibility of taking care of customers satisfaction in your exchange, not just listing new coins and making a profit from listing fees as well as trading fees.

I very much suspect that they are insolvent. I don't think that they're exit scamming. That's just my speculation, however.

We can only warn people to not use them, not much else we can do.

[MadMac]

It's confirmed now, they do it intentional and there are no technical issues at all.

I did another withdrawal of a small amount of 1.6 BTX to the same address. This went through. Another withdrawal of 220 BTX is stuck in "processing" for almost a week now. They keep higher balances artificially stuck in either deposits or withdrawals and are collecting the airdropped dividend of 6% every Monday, I have no longer doubts about this. The same is the case for DeepOnion which pay around ~3% in their "airdrop" every Friday. Shame on you, Cryptopia. You are thieves and it is proven now!!!

[timerland]

It's confirmed now, they do it intentional and there are no technical issues at all.

I did another withdrawal of a small amount of 1.6 BTX to the same address. This went through. Another withdrawal of 220 BTX is stuck in "processing" for almost a week now. They keep higher balances artificially stuck in either deposits or withdrawals and are collecting the airdropped dividend of 6% every Monday, I have no longer doubts about this. The same is the case for DeepOnion which pay around ~3% in their "airdrop" every Friday. Shame on you, Cryptopia. You are thieves and it is proven now!!!

Yeah, shame on them. If they can produce a small withdrawal why can't they produce a big one?

Either that they are really undermanned in their security department that processes all the withdrawals, or they are doing this intentionally to screw you over by getting staking/lending/trading profits on your coins. Or even worse, they could be insolvent as I've said.

This is stupid for an exchange to do, they put so much time and effort into making and marketing their exchange & dotcoin, but now it seems to be all crashing down with this volume of complaints. Would be nice to get an explanation from them at least.

[elkalioby]

They are thieves

[Pab]

I dont have any problem with Cryptopia

[MadMac]

I dont have any problem with Cryptopia

There are no problems with Cryptopia, unless you try to deposit or withdraw coins. I thought we mentioned that 

[marvel213]

Same here.  Deposited .57 bitcoins.  Bought 1000 innova coins for masternode.  Tried to withdraw.  stuck at processing over 3 weeks.  No support whatsoever.  Not even an automated response.

Cryptopia delete forum posts about complaints.  People have filed FMA and police reports and still no support from them.  Every week they say they are aware of the problem and fixing problems on their news page.  They have not fixed anything or give support.

People's accounts are getting hijacked where people are missing funds.

Every tweet or facebooks posts people are asking for support.  None is given.

Class action is in order.  Cryptopia is holding millions of dollars.

[MadMac]

I got this reply from Cryptopia after complaining through www.fdrs.org.nz

Everybody should file a complaint there. Bring the heat on them up.

From: Dispute Resolutions <disputeresolutions@cryptopia.co.nz>

Hello,

I can see your ticket is registered in our support system. Your ticket has not been overlooked and will be responded to in our support system where we will make our best attempt to resolve your issue.

We will not treat this Financial Dispute Resolution as a reason to escalate your ticket to be dealt with immediately. There is a large ticket queue and we endeavor to reply to the majority in chronological order. If we prioritized tickets due to formal disputes this could easily result in a large number of ticket holders filing disputes to skip the queue. This is not the purpose of a Financial Dispute Resolution, hence the Financial Dispute Resolution Service stating that they will only become involved with a complaint if you have gone through our internal support process first OR if you have made a complaint and it has been two months with no response.

As we have made clear on our news page we experienced incredibly fast growth in the past few months and support response times suffered due to the challenges associated with this growth. We acknowledge that we need faster support response times and we understand the frustration of users that we can’t deal with all problems immediately. We apologise that you have experienced these issues and are now able to say that our support times are improving due to our focus on significantly increasing resource and attention in this area. Unfortunately a backlog still exists that we are working through, we will get to your ticket as soon as possible.

Regards,

Cryptopia Dispute Resolutions

[marvel213]

I got this reply from Cryptopia after complaining through www.fdrs.org.nz

Everybody should file a complaint there. Bring the heat on them up.

From: Dispute Resolutions <disputeresolutions@cryptopia.co.nz>

Hello,

I can see your ticket is registered in our support system. Your ticket has not been overlooked and will be responded to in our support system where we will make our best attempt to resolve your issue.

We will not treat this Financial Dispute Resolution as a reason to escalate your ticket to be dealt with immediately. There is a large ticket queue and we endeavor to reply to the majority in chronological order. If we prioritized tickets due to formal disputes this could easily result in a large number of ticket holders filing disputes to skip the queue. This is not the purpose of a Financial Dispute Resolution, hence the Financial Dispute Resolution Service stating that they will only become involved with a complaint if you have gone through our internal support process first OR if you have made a complaint and it has been two months with no response.

As we have made clear on our news page we experienced incredibly fast growth in the past few months and support response times suffered due to the challenges associated with this growth. We acknowledge that we need faster support response times and we understand the frustration of users that we can’t deal with all problems immediately. We apologise that you have experienced these issues and are now able to say that our support times are improving due to our focus on significantly increasing resource and attention in this area. Unfortunately a backlog still exists that we are working through, we will get to your ticket as soon as possible.

Regards,

Cryptopia Dispute Resolutions

I did file with FDRS last week but the damages have already been done by Cryptopia.  I'm out nearly half a bitcoin even if FDRS pull through.   Only when government agency is involved these incompetent cryptopia employees respond.  Why?  Because FDRS can file a claim against cryptopia and close them down in New Zealand.

[jpdorn]

They are a registered company in NZ. I think they are really having a bad time w/ their exchange and thats just it:

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/5392901?backurl=%2Fcompanies%2Fapp%2Fui%2Fpages%2Fcompanies%2Fsearch%3Fmode%3Dstandard%26type%3Dentities%26q%3DCryptopia

[marvel213]

They are a registered company in NZ. I think they are really having a bad time w/ their exchange and thats just it:

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/5392901?backurl=%2Fcompanies%2Fapp%2Fui%2Fpages%2Fcompanies%2Fsearch%3Fmode%3Dstandard%26type%3Dentities%26q%3DCryptopia

Not bad enough to list new coins and keep making millions while their employees attack their customers for their negligence.  People who have been affected from Cryptopia should be compensated.  At least pay back what they originally invested into that incompetent exchange.

[MadMac]

BTX and Onions stuck under "processing" got finally canceled after exactly 4 weeks.

Onions withdrawal just went through.
BTX rescued as well.

Never again!

[jpdorn]

BTX and Onions stuck under "processing" got finally canceled after exactly 4 weeks.

Onions withdrawal just went through.
BTX rescued as well.

Never again!

Im also avoiding them until they provide strong evidence that they can handle the actual demand of users and scale properly.