Topic: Cryptopia has been in "maintenance" for the last 14 hours! (Read 1609 times)

Maybe i woke up too late  and  this is not the place, but i can't find another one where the claims of account holders are discussed?
( I still not received inviting  to register on the Cryptopia claims portal.)

Most likely because they "understand" that most of the cryptopia creditors are its holders...

A true definition of shitcoin.

Are there any threads on here about exchange ruination resolution? I saw a thing about a Cryptsy payout today, an insulting one, I can't think off the top of my head about any dead exchanges that had a happy ending.

is there a full accounting of the crypto funds posted somewhere? all the numbers i've seen are old and converted to USD. i'm wondering because the hack occurred in january 2019 when BTC was only worth half its current value.

Does this judgement definitively mean people will get a decent portion of what they had there back or is it just the first step?

However, the blockchains of the coins that I had at Cryptopia have already forked to get rid of Cryptopia's holdings/dump...

A "win" for customers?

Website: https://www.stuff.co.nz/business/120913953/cryptopia-account-holders-win-battle-over-assets-worth-140m
Title: Cryptopia account holders win battle over assets worth $140m
Byline and Date: Martin van Beynen and Sam Sherwood - 18:33, Apr 08 2020
Archive link: https://archive.vn/IpDZh

(1/2) Today, 8 April 2020, Justice Gendall delivered his judgement finding firstly, cryptocurrencies are “property” within the definition outlined in s2 of the Companies Act 1993 and secondly, that account holders' cryptocurrency were held on multiple trusts, separated by ...

(2/2) ... individual crypto-asset type. This means that the cryptocurrencies are beneficially owned by the account holders and are not assets of the company. Read the full judgement here: https://bit.ly/3c1tbMx

Article gone.

FORMER CRYPTOPIA DEVELOPER SAYS HACK WAS ‘INSIDE JOB’

https://bitcoinist.com/former-cryptopia-developer-says-hack-was-an-inside-job/

 

Yep, I just took a look at their home page and it definitely looks like shit an exit-scamming exchange would write.  I never used Cryptopia, but I do feel bad for everyone who had coins there.  Unbelievable.  It's stuff like this that makes me really nervous about depositing even small amounts of crypto on an exchange.  This last thing with Binance had me paranoid for about a week while they had deposits and withdrawals suspended.  Binance customers got lucky, I guess.  Cryptopia customers got screwed.

Are they?  This just happened, so isn't the outcome at this point at least a little uncertain?  I would assume that there are a lot of pissed off people who had coins on Cryptopia who might want to take some action, much like the Cryptsy situation (but I'm not even sure what the final outcome was of that one). 

The New Zealand Court has granted a 10 working day extension on the initial Cryptopia Ltd Liquidators report. It is now due on 4 June and will be available on the New Zealand Companies website when it is submitted

Novaexchange has  hidden hosting as whois shows.
I also cannot find an imprint on the website.
Who is the company behind?
Its shady as its totally anonymous but asks users to do KYC.
I prefer KYE(KnowYourExchange) before I sent a satoshi there...

Looks like someone really wants to be the next Cryptopia:

Now I can say that they are scammers.

And they are already off the hook and free to do anything even launch a new exchange if they want to.

Looks like someone really wants to be the next Cryptopia:

Alert!  If listed with Cryptopia, list for free with Nova Exchange before June 1st. Read more on Nova News page: https://novaexchange.com/news/  #Cryptopia #novaexchangev

In the last days it looked as if the btc withdraws were long delayed, so maybe they were running out of coins.
That means, they would maybe not have hold the amount they should hold.
Well after got hacked with 9-20% lost, they did the haircut, so the loss was already socialized.
Most coins were trade disabled, even after they "secured" the wallets.
There was no intention to give more than a few selected coins back,
but they enabled deposit of BTC until the very moment they closed.
Kind of scammy eh?
All users that held coins today will probably see nothing any more, or only a fraction, and that after maybe years.
So why did they file bancrupcy?
After spreading lies about their progress and disinformation about the hack, what shall we believe?
Isnt that extreme unfair to the users? What dead corpses are hidden under cryptopias carpets?

Yesterdays maintenance screen showed: DONT PANIC

Thats pure sarcasm, they even laugh about us stupid users loosing all funds...

OMG, they just released a new update on their Twitter handle and it's definitely NOT a good one:


From the press release:

This is bad - they've not published any single update within the last 20 days!

Cryptopia Limited appoints Grant Thornton as Liquidators - https://www.grantthornton.co.nz/press/press-releases-2019/cryptopia-limited-appoints-grant-thornton-as-liquidators/

The liquidators are focused on securing the assets for the benefit of all stakeholders. While this process and investigations take place, trading on the exchange is suspended.

“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,” says David Ruscoe.

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

Today we have re-enabled the API in another step towards restoring full service.

It seems like the damage is not limited to Ethereum and Ethereum tokens:

https://twitter.com/notsofast/status/1108553195175981056

BTC = 14% Haircut
LTC = 43% Haircut
ETH = 100% Haircut

Cryptopia - my favorite exchange:


I'll surely be using them again once they get back; they're handling the whole situation in a very good manner!

Despite our own issues, as a Christchurch company, our thoughts are with everyone affected by the recent shootings.

Update: We are well aware of market volatility in Crypto, our next phase will be introducing cancel-only mode for users to cancel any positions accordingly before the trade engine is turned back on for trading. We aim to have this on the site in the next few days.

As we work towards full re-launch of the platform, we have now enabled the ability for users to cancel their standing orders. The API is still disabled, so you will need to cancel through the website.

If you want to cancel all orders in one go, this can be done from the account page under the Open Trades section: https://cryptopia.co.nz/Trades

smells like exit scam

The balance is from before hack.
It says nothing about the current status,
anyway cryptopia didnt publish yet how they will handle the losses.

Full Refund?
Distribute the losses to all users?
Leave only the users holding affected coins with the losses?
Create tradeable Dept-Tokens they will change slowly to coins?

Okay, so surprisingly my holding still sitting in exchange. is it same for you guys as well?

hold your horses. they still need to recover from a 10% loss of deposits. and we'll see how much of the user base is willing to stay! surely there will be a run for the exits when withdrawals are opened. i hope they can survive it.

i also saw this post today which is extremely troubling. it's not confirmed (could be totally false) but if true, it indicates a serious bug in cryptopia's automated withdrawal system. that's scary to see right as they are relaunching after a hack!

A new update posted on Cryptopia's official Twitter:


Long Cryptopia, short Binance DEX!

good to hear. the radio silence from cryptopia was starting to feel ominous.

less than 10% hacked---not nearly as bad as i thought. a haircut w/ debt tokens might work out just fine. i wonder if the numbers are in BTC terms or NZD/USD terms. i'm thinking probably fiat.

i wonder how big the exodus will be. something tells me a lot of users will stay. for a lot of these shitcoiners, there's nowhere else to go!

Seems like Cryptopia will be re-launching very soon:

Update: We are continuing to work on assessing the impact incurred as a result of the hack in January. Currently, we have calculated that worst case 9.4% of our total holdings was stolen. Please keep an eye on our page for further updates today.

Update: We are securing each wallet individually to ensure the exchange is fully secure when we resume trading.
We have more updates to come today, please keep an eye on our page.

Update: As a result of the new wallets please immediately refrain from depositing funds into old Cryptopia addresses. We have more updates to come tomorrow, keep an eye on our page.

You know, I thought the same thing about Bitfinex when they lost 120,000 BTC in that 2016 hack. A year later, they were one of the biggest exchanges in the world.

Probably not a great example since Cryptopia was a much crappier exchange, but you get my point. Cryptocurrency traders are gluttons for punishment. They always come back for more.

Who's going to use them even if they reopen? 

No compensation as of now or in near future but it looks more or less formality than actual fund retrieve effort.

It's true and you right pointed out that it's "cliche" that one should not put fund on exchange. But what about those buyer who are in accumulating mode etc. And on another note if every crypto user start avoiding exchange due to this reason then all exchange will dry up with in the week. Being generous here with one week.

Reopening already?!?

Cryptopia might reopen in February, NZ Police says

https://www.newsroom.co.nz/2019/01/30/422537/cryptopia-might-reopen-in-february-nz-police-says

That's quite bad! Did you try to contact CoinExchange regarding that? If the hacker hasn't withdrawn from the exchange yet, CoinExchange might be able to recover some of the funds from that hacker.

Raja_MBZ Don't know what should I make of this new news coming from cryptopia. but one of my holdings already got dump hard in Coinexchange and just for confirmation I have checked Hacker's eth address too lol. hacker already moved fund in exchange.

Reopening already?!?

Cryptopia might reopen in February, NZ Police says

https://www.newsroom.co.nz/2019/01/30/422537/cryptopia-might-reopen-in-february-nz-police-says

Police are working to enable the company to communicate directly with customers, the letter said.

The question I have is:

how many such cases that some hacker stole funds from some exchange and was caught and recovered the funds?

I do not know the statistics, but I know that I do not see every day the news channels say they found the hacker X and recovered the funds of some exchange that was targeted by hackers. following this logic, they may have stolen themselves because they know there are few chances of being caught by the police.

The question I have is:

how many such cases that some hacker stole funds from some exchange and was caught and recovered the funds?

I do not know the statistics, but I know that I do not see every day the news channels say they found the hacker X and recovered the funds of some exchange that was targeted by hackers. following this logic, they may have stolen themselves because they know there are few chances of being caught by the police.

If Cryptopia's management was actually behind this hack, they'd not be cooperating with the police at this time due to fear of being jailed. I still think that Cryptopia's bad security caused this hack, not the Cryptopia's bad intentions.

Cryptopia is hiding behind the announcements of the police.

On top of that one shitty exchange "Mercatox "asking for money to stop hacker to sell stolen funds in their exchange. However, they denied that their representative is involved in this conversation. Still not a good sign.   

https://twitter.com/boxmining/status/1088631767504805889

That implies the thief has full control over all those funds and always has and Cryptopia has none.

I doubt the police cyber-crime division even knows how to secure and sweep wallets.
Lets hope they sweep the remaining un-hacked wallets into a police wallet at least or get the right people to deal with it well assuming that cryptopia has the keys ...

I'm quite sure that there'd not be that many miners sending their Ethereum (a total of 1675 ETH) to Cryptopia. This looks like a fresh sweep by hackers, and literally, shame on police for not taking good care of the remaining un-hacked wallets.

Incompetent police.

The Cryptopia Hack Is Not Over, Another 17K Wallets Drained - Report

https://cryptonews.com/news/the-cryptopia-hack-is-not-over-another-17k-wallets-drained-r-3284.htm

If the hackers have really managed to hack the remaining wallets again, I'd say that it should be New Zealand Police's duty to pay for that. They stopped Cryptopia from providing the updates, and clearly mentioned that:


Incompetent police.

A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.

There should be some info from cryptopia, what had been stolen.
I like to know what of my coins there are gone.
If and how to get access to the funds.
Its understandable they cannot straight reactivate the website if safety is not set up new.
But they should inform about whats now and whats next.

There should be some info from cryptopia, what had been stolen.
I like to know what of my coins there are gone.
If and how to get access to the funds.
Its understandable they cannot straight reactivate the website if safety is not set up new.
But they should inform about whats now and whats next.

Can't imagined how will Cryptopia will deal on these.

Wednesday, 16 January 2019 - 7:30pm
National News
The investigation into the alleged unauthorised transaction of cryptocurrency at the Christchurch company Cryptopia has continued today.
 
The inquiry is still in its very early stages and police are continuing to work with Cryptopia to establish what has happened and how.
 
Police are not yet in a position to say how much cryptocurrency is involved, other than it is a significant amount.
 
A large team, including Canterbury CIB and specialist staff from the police High Tech Crime Unit, have been assigned to the case.
 
There has been a visible police presence at the company’s Colombo Street headquarters throughout the day as police take the steps needed to progress the investigation.
 
While police are unable to go into details about specific steps being taken at this stage, we can say that our focus includes commencing both a forensic digital investigation of the company, and a physical scene examination at the building.
 
We are dealing with a complex situation and we are unable to put a timeframe on how long the investigation may take.
 
We are also aware of speculation in the online community about what might have occurred.  It is too early for us to draw any conclusions and Police will keep an open mind on all possibilities while we gather the information we need. 
 
A priority for police is to identify and, if possible, recover missing funds for Cryptopia customers; however there are likely to be many challenges to achieving this.
 
We would also like to make clear that Cryptopia are cooperating fully with the investigation team and a media report that police ‘stormed’ the building today is entirely incorrect.
 
Anyone with information which could assist the investigation can contact police by email at [email protected] (link sends e-mail).
 
ENDS
 
Issued by Police Media Centre.

Funny how Mr. CZ is using this failure for his product's promotion: