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Author Topic: [2019-05-28] Cryptopia Cryptocurrency Holders Get Update from Liquidators  (Read 43 times)
MarinaTrif
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May 28, 2019, 01:11:44 PM
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The popular New Zealand (NZ)-based cryptocurrency exchange Cryptopia was unexpectedly attacked twice by anonymous hackers in January who run away with more than $18 million worth of cryptocurrency from around 80,000 wallet addresses. From the complicated liquidation actions being conducted by Grant Thornton, an update for all account holders was announced.

The press release notes that the exchange has legally filed a petition in the SDNY Bankruptcy Court located in New York, with the aim of recognition of the NZ liquidation in USA. This has to be done so as to protect and care for the digital currency platform from liquidating all the United States accounts on the platform. Cryptopia has further requested for the “urgent interim relief” with the intention of preserve the exchange’s data stored on servers belonging to one of the giant Arizona-based business. The company wants to monitor all of their customers’ data and their account holdings.

https://coinidol.com/cryptopia-cryptocurrency-holders/
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May 28, 2019, 03:42:45 PM
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Fortunately, my account in Crytopia when it was hacked twice was already devoid of any coin or token so I am not a victim of its ultimate demise. Let's just hope that the liquidation can be fair, transparent and will be satisfying to all stakeholders. I am actually sad that a good cryptocurrency exchange failed to survive the greatest test of its resiliency and strength. This is a big reminder to all of us not to fully trust any exchange as they are not actually wallets for our digital assets.

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epidemia
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May 28, 2019, 05:25:04 PM
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I very much doubt that Cryptopia users will receive their foreign exchange assets within a few months. Exchange executives will find reasons to delay or even not return at all. Moreover, many say that databases can be lost, and this is a very bad signal for those who did not manage to bring out the crypt.
I want to wish success to those who kept their savings there!

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May 29, 2019, 03:31:19 AM
 #4

As per the article:

Quote
As Cryptopia tries to preserve the information and fund balances of their users, the exercise of recovering information and ascertaining how best to allocate funds to all affected holders, will more likely take longer – like months. All users and any concerned participant who want to be getting updates are advised to always find them on Thornton NZ and Cryptopia official websites.

Recovering data and paying its account holders is two different things. Yes, it might take them months to fully recovered all the data, but paying them will take years. And maybe there's the questions of data not tallying so there will be a lot of questions that will be raised by account holders here. So it might really take years before everything can be settled.

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