Topic: Cryptopia Cryptocurrency Platform Services and Development - page 24. (Read 173834 times)

There is a lot more going on behind the scenes. There are multiple interested parties (NZ police, NZ courts, liquidators/administrators, shareholders, clients etc) but not all information related to this disaster has been made public.

Why is there no news from the liquidators? The court decision entered into force a long time ago and their property was not returned to the exchange customers. In my opinion, in many (all) jurisdictions, keeping someone else’s property contrary to the consent of the owner is a criminal offense. (After all, two months were enough for the exchange to resume work after hacking and reconciliation of assets, why is it not enough for a simple withdrawal of coins?)
Also, while there is no explanation, how will the token (CLM?) Issued in return for the deducted 14% BTC and 49% LTC be returned? (And, in general, was it legal to write off coins unaffected by a hacker attack without the consent of the owners, because these coins were not exchange assets?)

The next, incomprehensible moment, on what basis have the liquidators already spent a huge amount received from the sale of other people's property (coins of exchange users)? Let the liquidation services be paid by the bankruptcy initiator.
In my opinion, there are a lot of grounds for claims from clients (traders) of the exchange both against the exchange itself and against liquidators, possibly with the initiation of criminal cases.

P.S. I suppose that the court decisions take into account the opinion of the crypto community (perhaps the assistant judge looks at popular places for discussing the topic), it would be nice to be concise (not to fill up the pages with copy-paste from past topics) and less emotional (to refrain from obscene tirades).

Well, it was a mammoth effort collating everything together and linking it in that thread so I give you and the others involved in posting about it full credit.

I wonder how long it will take for people that had funds in Cryptopia to get their money back. Mt.Gox people are still waiting I think lol

I've copied your post on this thread here.  You're welcome to post updates such as this on the other thread. ((Just be mindful it's not a discussion thread - that's what this thread is for))

Stolen ETH on the move again.

https://en.cryptonomist.ch/2020/05/06/funds-stolen-cryptopia-transferred-again/

Would be good if there was a bounty on recovered coins, bounty hunters get a good % of funds recovered.

I appreciate your kind words - I did have some help with the list from the ten pages of posts, so kudos to everyone who has helped gather the information together.

Thank you for the link. That thread has excellent work by yourself Timelord2067

There are links to the NZ Police and various media sites on this page: https://bitcointalksearch.org/topic/cryptopia-online-articles-related-to-hack-theft-of-funds-2022-non-discussion-5097916

Were there ever any criminal investigations that actually led to arrests or to names of people that the police were trying to find?

I don't think binance would have stated they captured that huge amount of btc from the hackers/insiders if they did not intend on returning it.
It would be like them claiming they have just stolen all the cryptopia users funds.

Would be a PR nightmare that would be more damage to them than seeing the btc goes back to its owners.

Reconciliation tooks months to complete, this is stressfull task
My 0.6btc stuck on there, and there still hope we will get back our belongings.
In this very moment enjoy the halving at quarantine

The users and there coin balances are grouped into the same row in the database. What matching are you even talking about. The data is constructed of rows and columns. Each column represents a certain attribute like  USER NAME ..EMAIL ADDRESS..COIN BALANCE.. TIME YOU JOINED.  Each row has the actual values .

We're not living in the caveman ages. We have sql databases for a reason. We can use sql programming languages with them to perform computations quickly. This means constructing a simple sql command to add up how much the users own for each coin in the database, then comparing it with the coins wallets.

This command would be very simple and could be used over and over again for each coin.

We also don't have to manually email everyone. We are not Neanderthals. We have scripting languages that can perform complex tasks like emailing everyone in the database and giving them temporary usernames and password.

We also don't have to manually check the kyc. We have AI systems that use facial recognition software that can compare a pic with a sign you hold to a driver license pic and if they match you pass the kyc.

Nothing has to be done manually. Any computer can perform these tasks very quickly. Stop thinking we live in 1000 BC and we still light fires with stones and drag women around by there locks. This is a very simple operation and Grant Thornton is purposely stalling to try and steal the coins.

All the thieves pretend to be honest. Cryptopia has a bad reputation since ever and flags was rised since first accusation. People don't search for the rates before to join it and you can see how many accusation has been made against cryptopia here in btt forum.
Unfortunetly, this may or will happen with most of the centralised exchanges you know. This becomes a repetitive event that we hear about often.

clever people that protect cryptopia
where did the site go, where is the news?
they are thieves pretending to be honest...

Well of course its been said many times before. This is legal theft at a grand scale and they'll keep fucking us over till all the cash is gone. Who the fuck wouldn't?
They can literally have a meeting lasting an hour, watch porn, measure who has the longest wank stain and bill $5k and not a fucking thing can be done about it. Fuckers hit the jackpot with this one.

I guarantee my first born will be a liquidator.

Well if you really think about it..grand thorn in the ass can declare another hack to the funds just like cryptopia and then another portion of the funds ldown the drain LOL

Or maybe their kind of hack is keep paying themselves for the never ending work of their specialists counting your funds hehe

Even the court has a copy of the database and access to funds, it still need a lot of hard work to identify each user and match it to his balance. This may take months to years.
Case is not yet closed as you with other users don't yet get your coins back. Now with the actual pandemic crisis, process of fund recovery may take much long time than expected.

There should be a court appointed judicial officer that has a copy of the database and a count of how many coins are in each wallet.

This is to make sure Grant Thornton doesn't start tampering with the database or stealing coins out of the wallets. Right now were putting complete trust in a shady liquidator that hasn't done a damn thing in 12 months since they were appointed.

This is to make sure that Grant Thornton emails everyone in the database and if they don't then you should be able to complain to the court appointed judicial officer.

The NZ judge that decided in our favor should then set a strict time limit on how long Grant Thornton has to get the coins back to their rightful owners. Otherwise this will drag out for years and we still won't get back our coins.

The lawyer for the customers that won our case should continue to seek to get these things approved by the court so we can get some definitive time frame of when this thing will wrap up

We won the case, the coins are property, and individual trusts were established. There is zero chance we don't get out coins. Those idiots at Cryptopia and Grant Thornton cannot touch our coins, and if they do they will be put in jail like the scum they are.

Once again comes the topic of trust in Grant Thornton and once again I have to make a clarification: GT is NOT a huge multinational corporation. It is a federation of local consulting firms. So GT NZ is sort of a franchise.
Their website description plainly states:

And yeah, once again I have to point that GT NZ bosses involved in this liquidation are acquaintances of Cryptopia owners. I also need to point out GT NZ does not need to steal anything. They can legally take however much they please as consulting fees. As they already did up until now and surely they will continue to drag on, as fees mount.