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Author Topic: Any updates on Cryptopia???  (Read 359 times)
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October 11, 2019, 08:42:07 AM
 #21

As i was checking in cryptopia website they announced august 20 about  some status about investigation . There is no major concern about investors . I was holding good amount of Crytpo currency in that wallet still i am not sure about i will get my fund back . Any updates can i get my fund back

the update is the same as all those places that get hacked  "They are working with police and yada yada blah blah" our coins are gone.
Sad  no recovery from a hacker in crypto, they cant pay people back, plain and simple
no new updates ive seen, just watch the twitter and such for any changes in next few months, but dont expect much imo

That's why it's best for people to move on since provably there money will not be back since I don't think cryptopia will pay off after there incident, and I truly believe that there's shady happening on there site so no wonder maybe this is there escape plan so that they could delay all things and suddenly execute there smooth exit.

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October 12, 2019, 10:55:48 AM
 #22

As i was checking in cryptopia website they announced august 20 about  some status about investigation . There is no major concern about investors . I was holding good amount of Crytpo currency in that wallet still i am not sure about i will get my fund back . Any updates can i get my fund back

I would strongly suggest that you just forget about the coins that you lost on Cryptopia.

Even a once dominant exchange like Mt Gox essentially was not capable of refunding anyone to this day, let alone some obscure exchange located in NZ. All of the investigations will probably eventually amount to absolutely nothing, and odds are stacked against balance holders on the site.

And even if there were any updates, it probably wouldn't help at all. Owners have moved onto a new project IIRC and I would be surprised with that new exchange project they'll focus any more energy onto solving this current debacle with Cryptopia.

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October 13, 2019, 02:04:13 AM
 #23

I also have some bitcoin and altcoins in Cryptopia but i think this is already close so then our investment there gone because of that scam

Then i learn a lot by this mistake like i move my btc,alts and tokens to hardwallet and trusted wallet already now then some trading site that trusted and popular are still better to use for me but don't give your 100%

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October 13, 2019, 06:25:47 AM
 #24

I also have some bitcoin and altcoins in Cryptopia but i think this is already close so then our investment there gone because of that scam

Then i learn a lot by this mistake like i move my btc,alts and tokens to hardwallet and trusted wallet already now then some trading site that trusted and popular are still better to use for me but don't give your 100%
As far as I know, there’s no new announcement about this exchange. I have also heard from a friend that his funds cannot retrieve it yet, it was gone indeed. Even they have planned to come back I don’t have a confidence in this exchange anymore. Better we must use exchange with good feedback and a reputable one.

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October 13, 2019, 03:48:19 PM
 #25

I also have some bitcoin and altcoins in Cryptopia but i think this is already close so then our investment there gone because of that scam

Then i learn a lot by this mistake like i move my btc,alts and tokens to hardwallet and trusted wallet already now then some trading site that trusted and popular are still better to use for me but don't give your 100%
As far as I know, there’s no new announcement about this exchange. I have also heard from a friend that his funds cannot retrieve it yet, it was gone indeed. Even they have planned to come back I don’t have a confidence in this exchange anymore. Better we must use exchange with good feedback and a reputable one.

So disappointing to hear that cryptopia wasn't able to recover what has been lost on their side. They're not taking liability for the problems happening on their exchange. Luckily I didn't store my funds on them, and if happens a mistake entrusting my asset with their custody, probably I would tend to be hopeless just like the others whose still complaining on their welfare.

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October 15, 2019, 12:47:23 PM
 #26

Grant Thornton, the firm liquidating hacked New Zealand cryptocurrency exchange Cryptopia, has discussed how best to do so with the platform’s developers.

Grant Thorton aims for “collaborative relationship”
According to a leaked email from Grant Thornton originally dated Sept. 23, its executives planned to conduct an online meeting with the developers on Oct. 7. The email reads:

“Given the scale, complexity and unique nature of the Cryptopia situation it is desirable to develop a collaborative relationship with the developer community.”

The move marks the latest step in reimbursing the exchange’s clients, who lost about $4.2 million in total after the hack last January.

In August, preparations were already underway to determine wallet ownership, with the liquidation process facing various hurdles nonetheless.

“A positive message”
According to Grant Thornton, Tuesday’s meeting aimed to explain the liquidation process to the developers and ask for their assistance going forward. The email continues:

“We believe engagement is a vital element to the overall success of the liquidation and a positive message for the crypto community at large.”

Sources: https://cointelegraph.com/news/cryptopia-exchange-liquidator-asks-its-devs-how-to-reimburse-users?utm_source=Telegram&utm_medium=social
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November 22, 2019, 06:30:07 AM
 #27

I am writing this post to update community as New Zealand court approved Queens Counsel Appointment . Once assessing company data with customer wallets and other details . Holders has to go through  KYC even the person completes the KYC earlier need to go through KYC process again . In Early december we might get one more update ( May be positive news for holders) .

Reference for holders : https://www.grantthornton.co.nz/update-for-cryptopia-account-holders-25-October-2019/
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March 17, 2020, 11:41:14 PM
 #28

Hi guys! Any update?
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March 22, 2020, 01:15:42 PM
 #29

First rule when Investing in crypto is never to invest what you can't afford to lose, the second rule is never to leave your coins or tokens on any exchange because they can stop working any time

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March 23, 2020, 06:33:26 PM
 #30

Hi guys! Any update?

Cryptopia won't come again, forget it and move on. Last year they had several hack attacks, Cryptopia wasn't a big exchange so they couldn't make it recover! Every exchange is not funded like Binance, that's why crypto expert always suggests to not hold any coin in exchange, but a hardware wallet and withdraw your funds from exchanges, that's the safest way among all.

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March 24, 2020, 01:41:21 PM
 #31

Cryptopia won't come again, forget it and move on. Last year they had several hack attacks, Cryptopia wasn't a big exchange so they couldn't make it recover! Every exchange is not funded like Binance, that's why crypto expert always suggests to not hold any coin in exchange, but a hardware wallet and withdraw your funds from exchanges, that's the safest way among all.

Agree. I was a user myself for a while, back when they were doing well, especially for a lot of those weird POS coins. I got out before they had problems but ended up losing most of my coins anyway when their wallets went dead and blockchains no longer managed.

I think the era of exchanges being managed by a few individuals is over,,, only a big corporate firm like binance can do CEXs.

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March 25, 2020, 01:40:56 AM
 #32

Cryptopia won't come again, forget it and move on. Last year they had several hack attacks, Cryptopia wasn't a big exchange so they couldn't make it recover! Every exchange is not funded like Binance, that's why crypto expert always suggests to not hold any coin in exchange, but a hardware wallet and withdraw your funds from exchanges, that's the safest way among all.

Agree. I was a user myself for a while, back when they were doing well, especially for a lot of those weird POS coins. I got out before they had problems but ended up losing most of my coins anyway when their wallets went dead and blockchains no longer managed.

I think the era of exchanges being managed by a few individuals is over,,, only a big corporate firm like binance can do CEXs.

ouch that still suck lea but still good because you withdraw before the hackings begun , its like you predicted the hacking it self lol  but you said you lost most of them which means you still managed to sell your other coins for some price  ?  still okay if i were to ask  .

 managing your own exchange by yourself alone is hard but its a good idea to hire some workers or personel to help you do the job  but if its only small then why not ? but exchange like cryptopia isnt really small because they are already making a name back then

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April 02, 2020, 03:20:58 PM
Last edit: April 02, 2020, 03:49:59 PM by fortunecrypto
 #33

Cryptopia won't come again, forget it and move on. Last year they had several hack attacks, Cryptopia wasn't a big exchange so they couldn't make it recover! Every exchange is not funded like Binance, that's why crypto expert always suggests to not hold any coin in exchange, but a hardware wallet and withdraw your funds from exchanges, that's the safest way among all.
We just hope that there will not be  another Cryptopia, now that we have a lot of exchange that we can choose from and it's now on how we choose the right exchange, it's better to only trade on the top exchange in the industry, because they have a reputation to protect and they likely not to get hacked because they have the best security.
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April 07, 2020, 09:18:32 PM
 #34

This might be old but in regards about updates on this Cryptopia issue then the best place to look for is into their social media platforms.

https://twitter.com/Cryptopia_NZ
https://www.facebook.com/cryptopiaexchange/

They do at least have some progress about the case.

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September 20, 2020, 07:56:14 PM
Last edit: September 20, 2020, 08:13:31 PM by BSVfan
 #35

New communication about Cryptopia

Will we be entitled to our respective forks (BCH-BSV-BTT.....)?

Check https://www.grantthornton.co.nz/Update-for-Cryptopia-account-holders-18-September-2020/


The liquidator of the now defunct exchange Cryptopia plans to begin the claims registration process by the end of 2020.
The exchange lost NZD 30 million ($17.85 million) in crypto-money due to hacking in 2019.
The recent court order gave Cryptopia account holders priority over creditors.


Quote
COMPANIES IN RECEIVERSHIP AND LIQUIDATION
Update for Cryptopia account holders 18 September 2020
18 Sep 2020
Since the release of our Third report in June 2020, we have made further progress in the Liquidation and provide an update with an additional set of frequently asked questions.

Our main focus has been working to continue the development of a claims process that achieves the following objectives:

Process    Details
Claims registration   1. Allows the registration of account holders details and to make claims for their account balances
AML/CFT verification   2. Verifies account holders' identities to the necessary AML/CFT standard
Asset transfer   3. Instigates asset transfers to account holders

We expect the claims registration process to be open by the end of the year.

Our next statutory report is due for release December 2020 but we will update stakeholders further in the lead up to the launch of the claims process prior to this.

Frequently Asked Questions:
How do I get my coins back?
As outlined above once we have finalised the claims process the Liquidators will be in touch with coin holders via official channels around registering their claim. Coin holders will need to verify their account and identity through an online claims portal. Until the claims process has been completed the Liquidators cannot begin the repatriation process. Coins will only be returned to those who complete all of the above processes.

When can I get my coins back?
The expectation is the claims process will open by the end of the year with the AML to follow this. Once these two phases are complete, we expect the repatriation process to follow. It is important to note that:

We have to establish a claims process and cannot just open up the Cryptopia exchange: the exchange was hacked prior to the liquidation. With the source of the hack still not identified we cannot open up an exchange that has been compromised
We have to complete the reconciliation process: this includes re-establishing coins in a non-hacked environment and then reconciling coin balances to the customer database. With over 900,000 active customers and up to 900 different coins, this is not a quick process
We will likely need to go back to court to seek further directions in respect of the distribution process including AML requirements. As liquidators, we need to follow the laws in New Zealand and cannot just return coins to account holders without completing appropriate KYC procedures
Do I need to register my claim?
You will need to register your claim, however, at this point, we are not ready to receive account holder claims. We have recently agreed on a claims portal which we hope to launch by the end of 2020. We will advise account holders via registered Cryptopia email and our official channels when we are ready to receive account holder claims.

What does the Court decision mean?
The Court decision means that Cryptocurrency is ‘property’ and coins were held on express trust by Cryptopia. A separate trust exists for each type of cryptocurrency and they are beneficially owned by the account holders so will not form part of the pool of assets available to unsecured creditors.

The next steps now will be completing the reconciliation process to determine total customer holdings and finalising a distribution model for returning coins to beneficial owners. This process is being completed alongside the claims and KYC process mentioned above.

The Court has ruled that you are holding my coins, I demand that you return these to me immediately.
Whilst the Court ruling confirms that Cryptocurrencies were held on express trust, the process of returning these coins cannot begin immediately due to the incomplete reconciliation process, AML concerns, and various other legal guidance needed on numerous matters. The Liquidator has a duty to all beneficiaries of these trusts and so repatriation cannot begin until the reconciliation process is complete and the Liquidators are ready for claims from all beneficiaries.

Are you selling my coins to fund the Liquidation?
The Liquidation is currently being funded with company assets. Allocation of costs of returning account holders assets will be subject to further direction from the Court.

To clarify the account holders’ assets are not recorded in the Receipts and Payments statement, found in the Liquidator’s reports.

Will the return of my coins be in crypto or fiat?
The Court’s directions indicate repatriation of customer holdings is to be in crypto where possible. We will work through this and seek further directions as required.

Will KYC be needed?
The KYC process cannot be avoided, as it is a legal requirement in New Zealand. Before returning crypto-assets we will correspond with customers within this claims process. Please note, customers who have previously completed the KYC process with Cryptopia will still need to go through the process set by us.

Why have you not replied to my email?
There were over 960,000 active account holders of Cryptopia. We cannot reply to individual email queries due to the sheer number of emails we receive and the time it would take to reply to all account holders’ queries. Please refer to the Grant Thornton New Zealand and Cryptopia websites and their respective social media channels for updates.

Can you tell me my account balance or provide a transaction report for taxation purposes?
At this stage, we are not able to confirm the underlying transactions or trade history that make up customer balances and therefore cannot communicate account balances to account holders at this time.

Can anyone else tell me my account balance?
We are the only ones with access to the customer database at the date of Liquidation. No one outside of the Liquidators has access to the customer database, nor should they be communicating any information about balances to account holders.

Anyone outside of the official communication channels pertaining to have access to this information or offering to tell account holders what balances are in their accounts is doing so without the Liquidators authority. Please be wary of any such approaches and note that any communications relating to the Liquidation will come from the official channels such as the Grant Thornton website, or the Grant Thornton and Cryptopia twitter accounts.

Will Cryptopia ask me for further funds?
No, we will not ask you to deposit any further crypto-assets or confirm account holders' details at this stage. The only direct point of contact will be made via the email address you used when you registered on the Cryptopia exchange.

Please take care to ensure that any communications asking you to deposit further funds are not scams.

Why can’t you simply re-open the exchange and allow account holders to withdraw their coins?
We cannot re-open the exchange to return account holders’ coins. The exchange was hacked and the source of the hack is still unknown and is still being investigated by the New Zealand Police. Because of the hack, we have had to re-secure all of the coins in a non-hacked environment prior to undertaking the reconciliation process (which had never been completed before). This is not a quick process but is necessary to ensure that coins are secure and that a further hack does not occur.

Because no detailed reconciliation process between the customer database and the crypto assets held in the exchange’s wallets was ever undertaken, we cannot confirm that account holders' coin balances will match the actual holdings for each coin.

Will trading on Cryptopia resume?
No. The Company is in Liquidation so will not be re-opening for trading. Please do not deposit any funds into historic deposit addresses.

My crypto was not affected by the January hack, why can’t I withdraw them?
Because no detailed reconciliation process between the customer database and the crypto assets held in the exchange’s wallets was ever undertaken, we cannot confirm that account holders' coin balances will match the actual holdings for each coin.

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September 28, 2020, 01:00:11 PM
 #36

I checked their website they have post news about the procedure that's happening to their investigation I think all of your questions will be answered there

JeffBrad12
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October 01, 2020, 11:02:49 PM
 #37

I checked their website they have post news about the procedure that's happening to their investigation I think all of your questions will be answered there
Didn't you see that someone has already posted the procedure about that above you?
The requirements are very strict for users to get back their money.

No exact date has already published before and almost a half of the month and there's no update regarding when will be the date for the users can start to complete the procedure to make sure they can get back their money from there.


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December 08, 2020, 03:46:50 PM
 #38

I am reopening my thread today i have recieved mail from Cryptopia stating to register in their portal had couple of questions to answer i have registered succesfully also i got reference mail . At the end of 2020 it seems some thing good is happening .
If anyone in the forum lost their crypto assets in cryptopia please do register as early as possible .
We got some hope now .
Something is better than Nothing.
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