The hacked exchange Cryptopia announced its own …

Hacked exchange Cryptopia announced its own liquidation

New Zealand cryptocurrency exchange Cryptopia has suspended trading on its platform and announced the start of a liquidation process. In January, the exchange suffered a hacker attack, the losses from which were measured in millions of US dollars.

Before the official announcement was published, the exchange was unavailable for several hours, and a message was displayed on its website about technical work.

Currently, the Cryptopia homepage states that David Rusco and Russell Moore have been appointed as liquidators..

“Despite management’s efforts to reduce costs and return profitability to the business, a decision was made to appoint liquidators in the interests of customers, employees and other stakeholders,” the announcement says..

The liquidators will collect available assets to satisfy the requests of all participants in the process. They also work with independent experts and authorities to determine the company’s obligations..

“While the liquidation process and the investigation are ongoing, trading on the platform has been stopped. Given the complexities involved, we expect the investigation to be more likely to take months than weeks, ”writes Cryptopia.

The hacked exchange Cryptopia announced its own ...

In what form users will be returned the assets remaining on the exchange is unknown.

During an interview with the local portal Stuff Rusco said: “We understand that Cryptopia customers want to resolve this issue as soon as possible. We will conduct a thorough investigation, we will cooperate with the participants in the process, including the management of the company and its investors, in order to find the most optimal solution for clients and investors “.

Back in mid-April, Cryptopia took steps to restore the full functionality of its platform. Then the ability to deposit / withdraw Bitcoin, Litecoin and Dogecoin was activated. The company also intended to gradually compensate users for losses and for this purpose credited the corresponding volume of debt tokens to their accounts..