Cryptopia is in liquidation, stops all services

M

mlawson71

Cryptopia, the New Zealand based crypto exchange, which was hacked for over 16 million USD back in January, has suspended all services and will be liquidated, the company announced in a statement.

The liquidation will be supervised by the consultancy and audit firm Grant Thornton New Zealand, the local subsidiary of Grant Thornton International.

In January crypto currency investors, who had wallets with Cryptopia lost assets for more then 16 million USD, including more that 3,5 million worth of Ethereum coins after a hacker attack.

In the aftermath of an investigation by the local authorities the exchange resumed operations in March, but faced serious financial problems and had to file for bankruptcy earlier this month.
 
mlawson71 said:
Cryptopia, the New Zealand based crypto exchange, which was hacked for over 16 million USD back in January, has suspended all services and will be liquidated, the company announced in a statement.

The liquidation will be supervised by the consultancy and audit firm Grant Thornton New Zealand, the local subsidiary of Grant Thornton International.

In January crypto currency investors, who had wallets with Cryptopia lost assets for more then 16 million USD, including more that 3,5 million worth of Ethereum coins after a hacker attack.

In the aftermath of an investigation by the local authorities the exchange resumed operations in March, but faced serious financial problems and had to file for bankruptcy earlier this month.
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Trade cryptos through CFDs and you can be sure about money safety. Of course the list of available pairs for trading is short, for example Hotforex offers BTC, ETH, Ripple and Dash but still short without coverage is available as well as no problems with deposit and withdrawals since fx brokers have good regulation. Crypto exchanges are insecure remember that!
 
I was unable to retrieve my coins for months and this. Pissed off. They should not have been in business for not being able to weather 16m$ loss, excuse me? The fact that they are closing their business at the height of another boom is just worthy of criminal in nature. Good thing I put in there what I could afford to lose.
 
pipeguy said:
Hotforex offers BTC, ETH, Ripple and Dash but still short without coverage is available as well as no problems with deposit and withdrawals since fx brokers have good regulation.
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Maybe I'm just overly risk sensitive but a place that is banned in America that offers 1000:1 leverage doesn't seem like a shining example of a "well regulated trustworthy broker".
 
ggelitetrader000 said:
I was unable to retrieve my coins for months and this. Pissed off. They should not have been in business for not being able to weather 16m$ loss, excuse me? The fact that they are closing their business at the height of another boom is just worthy of criminal in nature. Good thing I put in there what I could afford to lose.
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Had you invested in Cryptopia?
 
gaussian said:
Maybe I'm just overly risk sensitive but a place that is banned in America that offers 1000:1 leverage doesn't seem like a shining example of a "well regulated trustworthy broker".
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US hiked tariffs on Chinese imports, blocked Huawei and HikVision does it mean they offer bad products? Bad example? Well it's up to you to decide :) I think we have good example of protectionism in US finance, nothing bad in it. If you are US citizen when you have to oblige, but if no I would take into account all goods and bads before telling making verdict.

Cheers
 
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