Copy link
Increase text size
Decrease text size
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. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,496.07 (-0.84%)
  • Ethereum (ETH) $234.13 (-1.63%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $247.56 (+1.62%)
  • Bitcoin SV (BSV) $195.52 (+0.36%)
  • Bitcoin (BTC) $9,496.07 (-0.84%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft