Cryptopia Cryptocurrency Platform Services and Development - page 4.

malcovi2

member

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Quote from: Daltonik on August 07, 2022, 04:44:07 AM

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.

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.

Daltonik

legendary

Activity: 2604

Merit: 1504

Quote from: JollyGood on August 22, 2022, 05:40:37 AM

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?

The last report of the liquidators is dated June 17, 2022. It contains data from appendix "A" "Receipts and Payments" in total for the period from November 15, 2021 to May 14, 2022 in the column total payments amounted to $2,715,232 if I understand correctly.

https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/seventh-liquidators-report_cryptopia.pdf

JollyGood

legendary

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Top Crypto Casino

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?

Quote from: Daltonik on August 07, 2022, 04:44:07 AM

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.

nordtyt

full member

Activity: 150

Merit: 100

Hello everyone. Cryptoia was really a cool exchange. Soon 4 years, as she is gone. I am looking for former holders of skeincoin and dimecoin coins. There is also an offer for other speculators, traders of this platform. Write to me personally or here in the branch. I want to discuss options for cooperation to promote a project that was created a year ago and is gradually developing. We will reimburse the holders of skeincoin and dimecoin for the losses on the Cryptopia exchange.

Daltonik

legendary

Activity: 2604

Merit: 1504

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.

paramind22

hero member

Activity: 2730

Merit: 552

There's an old book called Get Rich Quick Wallingford. It was also a movie. It's a great read, probably can find it free online.

The theme of the book is stealing money legally.

JollyGood

legendary

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I am disappointed to see this drama is still continuing. How much of the recovered funds have gone directly in to the pockets of Grant Thornton to cover their expenses while they investigate. What will be left for victims? When will victims receive their funds? There is no end in sight, this saga goes on and on.

cryptopia.victim

newbie

Activity: 6

Merit: 0

Grant Thornton says they will need sufficient progress in account holders completing stage 2 and they expect more months. When they talk about months they mean years again?
Why should someone still get in touch if they haven't done it in the past 10 months?
I can imagine that they get a lot of money for lending our coins, more than the thieves stolen in 2019.

At a limitation of damage by returning our property before another price drop, they do not seem to be interested.

Lafu

legendary

Activity: 3136

Merit: 3213

There is now the Liquidators Seventh Report on the State of Affairs of Cryptopia Limited out since yesterday !
You can read find the Report and Update in form of an PDF file on the Liquidators Webpage and also on the link i have written here.
Its nothing special new on this update really but just wanted to let you know about it.

Source : https://www.grantthornton.co.nz/cryptopia-limited/
Source1 : https://www.grantthornton.co.nz/globalassets/1.-member-firms/new-zealand/pdfs/cryptopia/seventh-liquidators-report_cryptopia.pdf
Source2 : https://twitter.com/Cryptopia_NZ/status/1536582334891163648

c4s7or

hero member

Activity: 535

Merit: 500

Neverending drama

paramind22

hero member

Activity: 2730

Merit: 552

Has anyone had any of their coins returned to them yet?

I got tired after the fourth try with shoddy website interfaces/verification/double verification after I already verified on various of the hack sites to give the refund process much more work as of yet.

If I'm not mistaken, this theft was done at the start of a bear market and now its ridden out one bull market, we are now in a lull even bear market, to pay us back maybe at the top of the next bull market? Probably even one more go around.

Maybe Bitcoin will be 100K then.

Timelord2067

legendary

Activity: 3696

Merit: 2219

💲🏎️💨🚓

Ya don't say:

Armstrong Downes Commercial creditor trying to replace liquidators

https://www.stuff.co.nz/business/industries/128740317/armstrong-downes-commercial-creditor-trying-to-replace-liquidators?utm_source=dlvr.it&utm_medium=twitter - Archive [1a] [1b]

Melanie Carroll15:03, May 24 2022

Quote

A large creditor of failed Wellington construction company Armstrong Downes Commercial is trying to replace the liquidators with someone with “some teeth” to ensure subcontractors get paid.

Armstrong Downes (ADC) shareholders had appointed David Ruscoe and Russell Moore from Grant Thornton as liquidators. However, Lower Hutt developer Kevin Melville, whose High St Holdings 2020 Ltd was a client, said he wanted to replace them with Damien Grant of Waterstone Insolvency as the new liquidator.

“He doesn’t care if people don’t like him, he’s going to go after these guys, and I think that’s the right thing for the subbies, end of story,” Melville said.

“I just want a stronger receiver with some teeth that’s going to bite into Tony [Doile] and Simon [Taylor].”

JollyGood

legendary

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Just a word of warning.... What happened to Cryptopia could happen to any exchange. Nobody at all should be keeping their coins on an exchange unless they are intending to trade them. Other than that they should be held by the owner otherwise you risk losing them - it is that simply.

What happened at Cryptopia should serve as a lesson to us all. Just because an exchange has been around for some time and has almost zero complaints against them does not mean another Cryptsy or Cryptopia will not happen.

Please be careful with you crypto, it is after all investment and money whichever way you look at it.

SamuelPickwick

member

Activity: 72

Merit: 10

Quote from: TheCryproMaster on March 28, 2022, 03:17:34 PM

We have received orders permitting us to convert the equivalent of NZD$5 million Dogecoin (DOGE) into fiat currency to meet the ~~reasonable~~ exhorbitent, cow milking, over the fucking top cost and expenses of and incidental to the protection, preservation, recovery, management, and administration of any Cryptocurrency.

Fixed.

Thank you for fixing the statement. That is much more accurate.

TheCryproMaster

full member

Activity: 410

Merit: 106

We have received orders permitting us to convert the equivalent of NZD$5 million Dogecoin (DOGE) into fiat currency to meet the ~~reasonable~~ exhorbitent, cow milking, over the fucking top cost and expenses of and incidental to the protection, preservation, recovery, management, and administration of any Cryptocurrency.

Fixed.

Daltonik

legendary

Activity: 2604

Merit: 1504

Quote from: Lafu on March 28, 2022, 12:10:28 AM

There is a new Update out from today about the Claims process from the Liquidators !

Literally there are some news about theft from that " Michael Glaser " and that they converted some Doge into fiat for around 5 Million NZD.
You can read the whole article here : https://www.grantthornton.co.nz/insights/update-for-cryptopia-claimants-and-stakeholders-28-march-2022/

The next statutory report should be come in June.

Source : https://www.grantthornton.co.nz/insights/update-for-cryptopia-claimants-and-stakeholders-28-march-2022/

Thank you for the updated information on the ongoing procedure, I wonder what time all this can take if only less than 10% of all cryptopia customers (..... more than 82,000 users in the registration process......However, we are dealing with over 900,000 account holders) are in the process of registering, it should take years.

Lafu

legendary

Activity: 3136

Merit: 3213

There is a new Update out from today about the Claims process from the Liquidators !

Literally there are some news about theft from that " Michael Glaser " and that they converted some Doge into fiat for around 5 Million NZD.
You can read the whole article here : https://www.grantthornton.co.nz/insights/update-for-cryptopia-claimants-and-stakeholders-28-march-2022/

The next statutory report should be come in June.

Source : https://www.grantthornton.co.nz/insights/update-for-cryptopia-claimants-and-stakeholders-28-march-2022/

TheCryproMaster

full member

Activity: 410

Merit: 106

Nope I'm all for naming and shaming those that commit crime. So many people here in NZ get name suppression, and show no remorse when in court. They need to know if they fuck someone over they will be outed as an asshole to all that know them.

Daltonik

legendary

Activity: 2604

Merit: 1504

Quote from: paramind22 on March 19, 2022, 02:20:35 PM

Quote from: Daltonik on March 19, 2022, 07:59:10 AM

Quote from: Lafu on March 18, 2022, 01:51:13 PM

The New Zealand Christchurch District Court has done a decision about the Guy that has stolen the 250k worth of Bitcoin!
Name of former employee is also given out from the Court now , Michael Glaser possible a contractor from Intranel.
You can read the whole Story in the source article.

Source : https://www.stuff.co.nz/national/crime/128094837/former-cryptopia-staffer-gets-home-detention-after-stealing-almost-250k-of-cryptocurrency

Interesting information, it's strange that for the active repentance of Cryptopia employee Michael Glazer, who committed the theft of private keys, the judge went to divulge his name, is this an attempt to intimidate this person in order to prevent him from disclosing some not convenient information, especially since many, as the article says, have already received threats.

You're reading a lot into that. Maybe because most people who create serious crimes are named?

Why would he not be named?

I am for the names of the criminals to be disclosed, but in the case when the process is completed and the victims have received compensation, and the criminal has deserved punishment.

It's just that in this case the process is not complete and the demonstration of the disclosed episode as some kind of progress, especially since he actually confessed to the theft himself, seems to me not very productive, that's all I meant.

paramind22

hero member

Activity: 2730

Merit: 552

Quote from: Daltonik on March 19, 2022, 07:59:10 AM

Quote from: Lafu on March 18, 2022, 01:51:13 PM

The New Zealand Christchurch District Court has done a decision about the Guy that has stolen the 250k worth of Bitcoin!
Name of former employee is also given out from the Court now , Michael Glaser possible a contractor from Intranel.
You can read the whole Story in the source article.

Source : https://www.stuff.co.nz/national/crime/128094837/former-cryptopia-staffer-gets-home-detention-after-stealing-almost-250k-of-cryptocurrency

Interesting information, it's strange that for the active repentance of Cryptopia employee Michael Glazer, who committed the theft of private keys, the judge went to divulge his name, is this an attempt to intimidate this person in order to prevent him from disclosing some not convenient information, especially since many, as the article says, have already received threats.

You're reading a lot into that. Maybe because most people who create serious crimes are named?

Why would he not be named?

Topic: Cryptopia Cryptocurrency Platform Services and Development - page 4. (Read 173717 times)