• Sat, 25 May 2019, 01:13 PM
  • All times are UTC
  • Edition:
Link copied

Hacked crypto exchange Cryptopia appoints liquidators

Wed, 15 May 2019, 10:59 am UTC

Following the major security breach earlier this year, New Zealand-based crypto exchange Cryptopia is now going into liquidation.

In mid-January, the exchange suffered a security breach which resulted in “significant losses. In a tweet, Whale Alert, a provider of live tracking information of large crypto transactions, said at the time that 19,391 ether (ETH) tokens and around 48 million centrality (CENNZ) tokens were moved from Cryptopia to unknown wallets on January 13.

According to a press release dated May 15, David Ruscoe and Russell Moore from Grant Thornton New Zealand have been appointed as liquidators of Cryptopia.

Grant Thornton said that the highly publicized hack severely impacted the company’s trade and its efforts to return the business to profitability, adding that the appointment of liquidators was in the best interests of customers, staff and other stakeholders.

“We realise Cryptopia’s customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders including management and shareholders, to find the solution that is in the best interests of customers and stakeholders,” Ruscoe said.

Per the announcement, the liquidators will focus on securing the assets for the benefit of all stakeholders. In the meanwhile, Cryptopia has suspended trading on its platform.

“Given the complexities involved we expect the investigation to take months rather than weeks,” Ruscoe added.

Grant Thornton said it will contact all customers and suppliers about its appointment in the next few days. It expects to file an initial report on the New Zealand Companies Office website next week.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,078.42 (+0.99%)
  • Ethereum (ETH) $253.73 (+1.01%)
  • XRP (XRP) $0.390000 (+0.49%)
  • Bitcoin Cash (BCH) $410.12 (-0.94%)
  • Litecoin (LTC) $102.67 (+4.50%)
  • Bitcoin (BTC) $8,078.42 (+0.99%)
May 24, 2019 (Friday)
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
German engineering giant Bosch trials Ethereum blockchain
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
Bank of Russia to review proposal on gold-backed cryptocurrency
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
Robinhood Crypto is now in New York
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
California resident sued for alleged $26M crypto Ponzi scheme
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
Rep. Swalwell accepting bitcoin donations in bid for US presidency
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
Binance CEO CZ seeks compensation for reputational damage from Sequoia
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
Coinstar extends bitcoin buying service to 21 US states
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.