Topic: Cryptopia Cryptocurrency Platform Services and Development - page 2. (Read 172850 times)

This saga has been dragged out for far too long. At the end of the day, investors have lost money and all they want is to get it back. Some investors will not give their identify for KYC therefore those funds can be recycled back to the recovered funds pot and be used towards those that will give KYC. Instead, all we here is more drama from the liquidators and Courts.

There should be a limit as to how much any liquidator or administrator is allowed to take for themselves because there is not an endless pit of Cryptopia funds. They are still trying to recover funds and the costs associated are simply going to take away a large amount of victims compensations whenever they will be made.

Say goodbye to your funds. First you get scammed by cryptopia, then you get scammed by liquidators and finally, if court accepts this point, you get scammed by NZ judicial system.

Today there was an Update from the Liquidators about the next steps and how the things are !
The whole Information about that you can read in the following Link from the Liquidators.
Source : https://www.grantthornton.co.nz/update-for-cryptopia-claimants-and-stakeholders-17-august-2023/?fbclid=IwAR1KFcresx3dupc1qvFjgdDw63Wzub5YGNRF-N8c15RYbLLCGPf7rA1cf1o

Permitting Cryptopia to take no steps to distribute cryptocurrency to account holders who have an account balance of less than the costs of the trust administration.

Wasnt there some funds frozen from the Cryptopia hack that was tracked to binance or some other exchanges ?
This could that they have written " asked authorities in various countries to seize and/or return funds based on them being taken in the alleged 2019 Cryptopia hack "
But i really dont know that , the only thing i know is that the Investigation is still on going.

In the report they mentioned they have asked authorities in various countries to seize and/or return funds based on them being taken in the alleged 2019 Cryptopia hack therefore the funds recovered could go a long way to helping victims.

There was an Update this morning from the Liquidators !

It is not just the KYC, they are asking users for old information that they will not be able to access such as the number of X tokens you had at the moment the exchange went down. I hqad about .25 BTC in cryptos overthere and I fear I'll never be seing it again.

It is not just the KYC, they are asking users for old information that they will not be able to access such as the number of X tokens you had at the moment the exchange went down. I hqad about .25 BTC in cryptos overthere and I fear I'll never be seing it again.

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Balance Acceptance Disclaimer
This portal includes access to information about the coin balances (active and delisted coins from the exchange) that Cryptopia Limited (in liquidation), acting via its liquidators, Messrs David Ruscoe and Russell Moore of Grant Thornton New Zealand, (Cryptopia) shows in relation to your Cryptopia account(s).  You will be asked to review the displayed coin balance(s) and either accept or dispute the balance(s).
You acknowledge and agree that:
Cryptopia makes no warranties, guarantees or undertakings as to the accuracy or completeness of the information displayed;
coin balances shown are as per the company records as at the date of the liquidation being 14 May 2019;
the actual amount available to return to you may differ from the displayed coin balance(s), regardless of whether you accept the balance(s), because:
o    any distribution to account holders is subject to court approval;
o    the amount held in the underlying wallet(s) for each coin type may be less than the aggregate of all claims by account holders, with the result that your claim in relation to that coin may be distributedon a pari passu basis;
o    coins may not be able to be realised and distributed if, for example, they are inactive, delisted or have a dead blockchain.
o    the costs and expenses incurred by Cryptopia's liquidators of administering the trust assets including the costs of distributing trust assets to account holders may be deducted from trust assets before distribution; and
o    Cryptopia may amend the balance shown where appropriate on becoming aware of new information, (for example, the recognition of previously unrecorded deposit or withdrawal in the Cryptopia exchange database).
if you decide to dispute your claim balance(s), you must select the Dispute button in the Portal and then provide sufficient supporting information of your view of the value of your claim balance(s) within 20 working days of indicating your dispute.  If you select the Dispute button and do not provide such supporting information within that timeframe, you are deemed to have accepted the claim balance(s) (noting that the actual amount paid to you can differ from the claim balance as described above).  All information you provide must be true, complete and accurate in all respects.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Lucky for those Cryptopia users who are eligible to recoup their money, the government agency involve was faster to process everything compared to Mt.Gox it took a decade before they release a payment schedule.
But still I don't think that funds left is able to cover all the hacked amount and I hope more people are going to learn not to keep all of their assets in centralized exchanges.

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.

There were so many users that did not want to give KYC to Grant Thornton therefore their funds will never be returned to them. Having said that they would prefer if those funds were recovered to be distributed between the victims but there are no assurances anything like that will ever happen.

Does anybody know approximately how much of the recovered funds have been taken by Grant Thornton as payments for their services and to cover their expenses while they investigate?

Yes, it seems to me that this will continue for a very long period, users waiting for the return of their crypto assets have nothing left but to go through all the stages step by step and formally until the moment of the agreement, it may take forever, but the reports of the liquidators look beautiful, in five months it will be four years since the hack of the exchange.